DOW 10K

We are just above the 10k level again. I think next week we get a early bounce then crash and burn. Who know just a guess

Job Numbers-

We just got a reading of 6.1% unemployment. There is a possibility that we could see a number approaching 7.5%-8% when all is said and done.

TRADE CALL UPDATES: RIMM, GS

RIMM getting killed before the open on the weak job numbers. Down below the magic $105 so should be great for the puts.
GS is now in the money on the short $5. I think we can get some more so let this one ride here.


ONLY WINNERS HERE !!!!!!!



MARKETJEDI

Job Numbers

WOW they sucked- Unemployment rate is at the highest level in 5 years. Geez what a crapping economic environment we are in. What went wrong since 2000 where we had a surplus and record employment. Oh well I know and you know !!!

Oh well. indices wont have much upside with all these bad data. We are oversold so I would expect a bounce but all bounces should be shorted

Bank of America News

Bank of America news is not good. There is going to be heavy investigation into this and possible lawsuits from investors through BAC.

Bank of America

The New York attorney General has subpoena 8 Bank of America executives in Auction Rate security Probe.

Again dont trust the big guys.


They are all scumbags


MARKETJEDI

Rumors

Rumors are mounting after the market close that some huge hedge funds are in trouble and are trying to unwind positions as they are closing. Another problem is the banks in Europe are saying their housing debt problems are more problematic than they originally thought.
Lets see what happens in the next few sessions. I think we are just at the bringing of the bad news, Bear Sterns was the warning shot in the sky and now the real unraveling will begin soon.
Commodities are cracked and tech looks like it is just starting to roll over. There will be no where to hide soon and if you dont want to play on the short side I am sorry to say you are just foolish.

The bump up in the bank stocks was just that a bump. I think they will be in a world of hurt soon very soon. We haven't seen anything yet.

MARKETJEDI