GE

Didn't even notice GE hit our $9 target. It is below $9 in fact. I am telling you this here and now all financials will be single digits when all is said and done

Borrowed Time

Action here in the market doesn't surprise me because I felt for the last two years we would get a meaningful correction in the markets. When I first analyzed it two years ago I concluded we would at least hit the 2002 lows made after 9-11. We are below that right now on the DOW but as most of you know the S&P is the better barometer of the markets.
I have no clue what they are going to do here! Today every single sector in the S&P was down, that's just terrible and I bet many will come out and say today was capitulation of some type but I have no clue. All I am willing to do is short the spikes on the financials and play the market intraday. Any gap up is free money short and the way we are looking right here I thing the next level will surely be 714-718 on the S&P. Do we get there tomorrow?? possible but it should be a good buy if we do but again you have to watch all your signals because the market is weak as a rat.

Wonder if they bounce us and call this a double bottom? We will see soon enough

MARKETJEDI

Nov Lows

Wow 20 minutes to go and looks like the market pulled a muscle. Come to me market I have some steriods for you, it is called you going lower because that's where you should be :)
Well tomorrow could be a nice set up if we gap down below the Nov lows and get some deep selling then move up back, that would be a good very good setup indeed.

SUB 7000

Sub 7000 just around the corner

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!!!!!