Very Important level

Very important level lower on the S&P 716-718. I have no idea what will we do when we get there but it will be significant.

Don't try to catch falling knives

Folks I have no ideas where the bottom is in on this market nor do I care. WHY? I don't buy and hold stocks as most of you know and why should I? I make money whether the market goes up or down so to me it makes no difference if we are at DOW 12400 or DOW 5000 all I want to know is that I am on the right side of the trade, which is obviously the short side.
I have been bashed many times because I was calling for DOW 7000 area when we were at DOW 12000, now where are those folks, hmm they must be dollar cost averaging their accounts to ZERO :) I feel we will definitely see DOW 5000 THIS YEAR!!!!!
Last week was awesome if you took last weekend blog plays. STT short was a 10% profit winner as of the close and went as high as 18%, PALM short is a 12% profit at friday's close and the big winner was WFC short which was a 59% gainer in 4 days as of friday's close and almost a 90% if you took it the week before when I had it as a trade. All that on a week when the market was cracked open to new lows our calls were all profitable once again.
Story here is don't fight the trend! why would you want to buy stocks? make no sense in the world NONE. I think somewhere below 7000 when we see that 6700-6800 area we will get a bounce BUT the question is how much of a bounce. Believe me I would love to see a massive rally so I could get short in a huge way because it wont last but we have to play what is right in front of us here and now and not guess.
This week I am neutral, friday we put in a hammer and if it stands we could get a few days of upside BUT who knows in this crazy market.
ANYONE watching my long term plays, FAZ long and SPG short given out last month, they are totally on fire.

Keep reading and profiting

MARKETJEDI

WFC and STT

What a call on those two-

Nice knowing you two stocks BYE BYE!!!!!

Friday-Options Expiration

Today is options expiration for February. Make sure if you own any february options you sell them today or you will have to convert them to stock by your broker.
You must sell your Options before they expire!!!!

I wont be doing anything today because my track record is not good on options expiration days due to the manipulation of prices.

Have a great day and weekend-


MARKETJEDI

DOW at November Lows

We are here folks- TOLD YOU!!!
Where is Cramer and the 1000 other analysts who said November was the lows. No shot in hell. Don't be in denial and buy stocks. SHORT at will or you got to be in commodities that will be the next market for the fast money.


BYE BYE MARKET- Hope you have fun in the 6000s

GE

Exactly a month ago January 23rd I said GE would trade to $9 in a year well it happened in one month. Folks nothing saving this market from lower prices. The market is going to do what it is going to do, just like water it is going to find its true level.

Another winning call!!!!!!

How is our WFC,STT and PALM shorts doing?
Anyone notice my 401k play of the year today? FAZ.


ONLY WINNERS

MARKETJEDI-

WOW

Slow death- tighten up those stops- None of the trades should lose from here they are up HUGE !!!!!!!!!!!!!!!!!!!