BLOOD IN THE STREETS

Seem like there was blood in the streets today but we haven't seen nothing yet in my opinion. I believe we will be south of DOW 10000 very very soon. You can't say you haven't been WARN but this market when all is said and done will be much much lower, today''s trading is testament of that. While I do believe we will get a bounce here and there because of the optimistic nature of most it wont last long. I expect any good bounce to climax and head south harder.
Don't throw away you money folks this market is in an prolong downtrend and wont reach new highs andtime soon. You must understand nothing goes in a straight line and we will get bounces but they will all fail miserably. Saying that, I expect some of the large banks to suffer major losses and go under (YES BANKRUPT) when this is all over. The Tech sector where everyone is hiding will crack and high flyers like BIDU and FSLR will see double digits once again.
The deal here is to short the bounces. That's the key period!!!!
On the horizon I will be adding alot of new stuff to the blog but as it is my aim to keep it simple as possible for the average joe, I still want more readers to have more options in trading. Soon to come will be alot more information and strategies on futures trading and how to profit from managed futures, so stay tuned.

Hope you are all profiting from the wonderful calls here because they have been unbelievable. One of our futures account is up 30% since last thursday, yes 30% in a week, just awesome.

MARKETJEDI

Serious Supports broken

Some serious supports have broken here in the market. Dont be LONG. Nothing if you not a skilled trader.
Serious damage is being done and if the bull give up the battle we can flush down hard.
I am still waiting for a 800-1000 point day down. :)

Trade Update:IPI

Still holding 1/4 shares of IPI with a $60 stop to lock in $10 profit... SWEET!!!!!!



ONLY WINNERS HERE.

DOWN we go!!!!!!!

Well heard the warning here first. Now we heading south in a big way. Where in C, where is MER, where is MS, where is SKF, where are the agro stocks, where is FNM.

You been reading this blog you would have 100% winners. No beating around the bush.


ONLY WINNERS HERE.

Market CRUSHED here

We are below the March lows people. Where is Cramer?? Where is the mad money traders??? Where are these people????
A bunch of morons!! This is too easy, really I am not bragging. Economy is going down and they wan tot buy, oh really what would I buy NOTHING. All the overseas investors in Citibank @$26 are dead here. Oh they are the smart money I am just a lonely trader..

GO MARKETJEDI!!!!!!!!!!!!!!

Goldman downgrade Citibank to SELL

Goldman saying to short or SELL Citibank, wow they are very late to this party. We been short Citibank since $26. Take that Goldman.

MARKETJEDI RULES.

After the FED

FED did what we expected, NOTHING. The FED is in a tight spot, on one side, they are facing an inflationary climate and on the other side the FED is dealing with an ever weakening economy. Where do we go from here? well the day after the FED announcement is usually an up day but that didn't happen on the last FED announcement. What I would personally love to see here is a tradeable bottom of some kind to push us into earnings, if we don't get a tradeable bottom in here in a few days we are doomed to go much lower. My longer term target are still the same DOW 9000, S&P 1050, Russell 450 and I will stick by these target over the next few quarters but these are my ultimate targets for those indices. Speaking of targets I am now increasing my target on Oil based on stuff I am readings and have come up with a conservative target of $225. I think this target will be achieved within 24 months!!!!!!
RIMM reported after the close and wow! it is being cracked. One more evidence NOT to listen to Jim Cramer who has been telling people to buy the stock before earnings. They missed EPS and lowering targets and I think this stock will see south of $100 before September. Alot of people think tech is immune from a weak economy BUT nothing is immune from economic weakness. Do you believe parents will be giving their kids money to buy ipods and imacs when gas is $9 at the pump, heck no, let's be real here people.
In an downturn people will only spend on necessities and even this time people might not never be spending on that as their net worth is vanishing with a lower stock market and falling house prices. One stock I think is a decent play short is WHR (Whirpool). The continued weakness in housing makes this a perfect stock for the shorts. Yes it might be late to the game on this one since it was as high as $90 two months ago but really if it bounces how far can it really go.
Lets see tomorrow what they come out and do here. Next week is July and usually carries a bullish tone into that holiday, so lets see what happens.
Hmm Anyone notice we are now at 11811 on the DOW!!!!!!!!!! We are slowly sinking! Everyone got excited at 13000 in May and I said dont be fooled. Who is the fool now???

MARKETJEDI