Well what would we really do if gas reaches $8-10 per gallon. It is a possibility we must think about as gas if now almost $4.50. Last week one long time investor in Oil, said we could reach $500 a barrel in 4-5 years and I am starting to believe that this is definitely an energy crisis happening.
I think Oil could reach $300 a barrel easily, yes easier than it going back to $75. The trend is definitely up and if we closely look at all the bullish factors, they far out number the bearish ones.
On to the market. We are shot here!! People seem to be giving up on the market and facing the reality slowly that the financials are DEAD. LEH looks like it wants to goto $10 in the finality of it all, Citibank has a chance to goto $10 too. I have been singing on Citibank for awhile that it should be a teenager stock from it was $27 and now it is firmly there. Citibank closed at $18.55 yesterday and I think we have just started to see serious selling in this name.
We look like we going to get a nice gap down which is the opposite of what I would ideally want. Therefore I will bracket the first hour to see where we want to go. Hard to say where we go before the FED announcement and I expect today after lunch into tomorrow announcement to be very low volume.
Tuesday, June 24, 2008
Monday, June 23, 2008
Don't listen to Cramer
http://www.elitetrader.com/vb/showthread.php?threadid=129917
Posted on youtube. The proof is here, he is a total idiot.
Posted on youtube. The proof is here, he is a total idiot.
Financials just no love
Been singing the same tune for months but financials are DEAD money for awhile. They all going much lower. GS couldn't even get a decent bounce off it earnings and that one is going to $145 then $130 before elections for sure, so write it down.
Market seem to be waiting on the FED 2 day meeting starting tomorrow and volume is reflecting it today. We should get a sweet trend day this week to make this week profitable but as of now we are in wait and see mode.
Market seem to be waiting on the FED 2 day meeting starting tomorrow and volume is reflecting it today. We should get a sweet trend day this week to make this week profitable but as of now we are in wait and see mode.
Sunday, June 22, 2008
Stock to watch
Not an official call here but MEE seem to be in a bullish pattern. A break of the recent highs should send this one to $100. I am kind of cautious right here as I want to see what happens the first 2 days of this week trading. I wonder if the bulls are totally gone or they will try again here.
Citibank cutting Jobs
Citibank will be cutting over 10% of its worldwide employees most in the in investment banking group.
One of my favorite shorts this year as you all know. Lets see how it react to this news tomorrow
One of my favorite shorts this year as you all know. Lets see how it react to this news tomorrow
Last week of the quarter
This market is bad very bad.There are only a few small places to have your money. We will see continued high gas prices, food prices, and inflation.
There are a few ways to look at this. You could see it as a bad thing. Or, you could see it as opportunity. You see, in life, trends always go much further and last longer than everyone thinks. Look at housing recently. Way way up, and then way way down. Look at the NASDAQ bubble before that. Look at gold from $250/oz to $1000/oz. Typically, things don't change until thinks peak out, or bottom out. Not in the markets, but with everything. Even social issues. Everything goes to the brink and back again.
Such as it's going to be with government, the education system, everything. Things won't really change, until citizens start taking part in the running of society again. PTA's with re-form. Political rallies will be common place events. Things won't really change until citizens stop living in a fantasy world of entitlement.
Things may get worse before they get better. Dow 10,000? Maybe. More 'socialism for the rich' bailouts? Maybe. Bank Nationalization? Maybe. C'mon don't laugh. It happened in England with Northern Rock, and both the Bank of England and Federal Reserve are private banks owned in part by the Rothschilds, Morgans, Rockefellers, etc.
This is my socio-economic point of view of the world. Until everyone knows what money is, the "business cycle" will continually be up and down and up and down making people rich or poor over and over. Once a gold standard is back, income tax will be gone and so will inflation and the business cycle.
There are a few ways to look at this. You could see it as a bad thing. Or, you could see it as opportunity. You see, in life, trends always go much further and last longer than everyone thinks. Look at housing recently. Way way up, and then way way down. Look at the NASDAQ bubble before that. Look at gold from $250/oz to $1000/oz. Typically, things don't change until thinks peak out, or bottom out. Not in the markets, but with everything. Even social issues. Everything goes to the brink and back again.
Such as it's going to be with government, the education system, everything. Things won't really change, until citizens start taking part in the running of society again. PTA's with re-form. Political rallies will be common place events. Things won't really change until citizens stop living in a fantasy world of entitlement.
Things may get worse before they get better. Dow 10,000? Maybe. More 'socialism for the rich' bailouts? Maybe. Bank Nationalization? Maybe. C'mon don't laugh. It happened in England with Northern Rock, and both the Bank of England and Federal Reserve are private banks owned in part by the Rothschilds, Morgans, Rockefellers, etc.
This is my socio-economic point of view of the world. Until everyone knows what money is, the "business cycle" will continually be up and down and up and down making people rich or poor over and over. Once a gold standard is back, income tax will be gone and so will inflation and the business cycle.
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