My shorts of the year.

FAZ (or SKF, if you like) and RIMM were my shorts of the year for 2009. RIMM looks like it can go much lower from here but I called it last year @ 123 short and hold for 2009 short, I am just updating on it.
FAZ I believe can still get a double so if you still in stay in, if you not in dont play it here . You must NEVER chase plays but if you do, that's your call not mine.
Anyways I now hear more coming out saying we going to go lower and this is a sign we might bounce soon because the smart money is already short and making the mula, so keep your stops on and you will be ok.

If and when we get alittle bounce I have a rocker of a trade but lets see when we bounce how far they carry us. We ended 3 points above the target I had for today on the lower side and that means we will test it in the next two days. Everything looks weak and I do mean everything any buying is so obvious is fast money shorts or weak shorts, it is not real buying.
Lets see if we can open higher tomorrow and maybe challenge 805-811 early, that level I would say is a great short. If you gap down I might look for a gap fill and then an attack of that 805 area. We will see soon enough

This whole thing is a JOKE!

Told you Gm now needs $30 Billion. You have got to be kidding. I said it months ago dont have the automakers it is throwing away money but folks you have to face the facts. It is better for them to fail than giving then $100 Billion which they will burn anyways and then we have nothing. It is better we make them fail just like the banks and use that money for stuff that will WORK.
Financials, automakers are just like coal and telephone companies of the 80s, DEAD, dying industries that must revamp. We can't continue like this and expect them to be any better.
Folks you can't spend and solve problems. Problems are solve my systematically address the issues and dealing with risk and future development.
This is all going to end VERY VERY bad for everyone. EVERYONE.

ROCKING

Enough said!!!!!!!!!!!!!!!!!
Market crushed our plays are monster winners

WFC : winner
STT: winner
PALM: winner.

All on the short side. That's where the money is folks- you buying you are giving away your money period!!!



MARKETJEDI

There we go

Well folks looking like we going to break to the downside even before the market opens.
This might get very ugly!!!!!!!!!!!!!!!!!!!!!!!

But who cares we are short - rack up the profits.
Watch 783.50

Huge gap down

Starting the 8:30 time frame here with a huge gap down- Looks like the DOW might open down around 200 points. Here we come November lows, man oh man, this market is so sick but who cares just play the short side and rack up the profits.

MARKETJEDI

Tuesday

Tomorrow tuesday watch for 829 on the ES to see if we can muster up a rally to there. 829 right now is important level right now as it stands but should be the point of control for the rest of week.
Lets see if the bulls can take us there or we just grind down.

Trade Idea/Call:STT

STT- Looks like a short to me here. I would play it out though especially if you play options.
The $30 May puts seem like a fair enough risk reward last traded @ $7.

We are in a tight coil here on the markets and will break soon. Just one of those times to sit back and wait for the market to tip its hands. We can go either way.


MARKETJEDI