Thoughts for this week

Well I am going to be watching tonight how Asia and Europe opens but I think we need to get a flush out here period. I don't like to be biased over a weekend but I have a feeling they will try and flush us since it was in the cards on friday but the rescue team came in to save the day. One thing that might trigger the selling is hedge fund redemptions which might be heavy as I have been reading.
Dow I personally think if we get a flush 'SHOULD' see 7380, that's the number I will be watching to poke some longs or if I am short to cover moving down to that number. The fact is the earnings numbers aren't helping and the news of Obama's lead widening don't help the wall street big guys who would more likely sell on a Obama victory.
Let's see how Europe opens and I might be up late to watch the opening to see where our futures are as I might short it overnight if we are up significantly.
Remember this week we have the FED meeting and their is talk of lowered rates but what's the sense it wont help.

Staying light here

I am staying light here because although I believe the market is going much lower medium term I think we will get a huge rally soon. I dont want to be adding fresh shorts here as this kind of move is usually some type of climatic move and if you just putting on fresh shorts you will get killed if we get a massive rally. Stay nimble and stay cash, it is just one day.


Marketjedi

Funny

How is SNDK doing? Said that one would be below $10 hehehe.
How is RIMM doing? my #1 short for the next 12 month a couple months ago is down more than 60%.
How is APPLE doing? My target of $75 coming very very soon.
How is GOOGLE doing? Already touch my $311 target and think in the next 12 months will be $200 if not less.
How is Citibank doing?? Going to my first $10 then $7.50. Ultimately Citibank will be a $3 stock.


BLOG IS JUST ON FIRE!!!!!!!!!!!!!!!

Thoughts

Would love us to get a flush out because this will set up a nice bounce in a few days. This needed to be done weeks ago and as usual THEY try to stop the natural forces of the market.

This could be a historic day and week to come.


MARKETJEDI

FUTURES LOCK LIMIT DOWN

Yep folks it is 7:30 am and the futures are locked limit down. We could be in for a very nasty opening and as I have said many many times before dont listen to these idiots the market is going much lower. The lows of two weeks ago will go at the open if the first remain locked limit down but this could be the day we get a huge flush out to build some kind of base from , we will see soon enough.


MARKETJEDI

TRADE CALL UPDATE- QCOM PUTS (AAO WI)

Out here @$11.60, another double options play.

QCOM looks like it can go much lower but I am taking profits here.


ONLY WINNERS HERE PERIOD

They just dont want us higher

They just dont want us higher. This morning we gapped down then turned around and went positive over 200 points.
It is obvious that the lows set two weeks ago will be tested maybe even early next week. Things just look weak although I still think we will get bounce that lasts more than one day. I dont want to set new shorts here on stocks/options I rather play it in the futures as I think a bounce when it comes might be vicious.
Let's see we end the day, it is currently 1:pm and lunch time is nothing to judge from.

GOOGLE and APPLE could save us this earnings season, maybe Microsoft does.