Hey gang I will be writing an extensive email this weekend about the markets and how to tell your friends and family how to survive what I think is coming. Awesome day for me personally while the market is crushed.
If you are not on my special email list please send me an email by tomorrow night so you can receive the thoughts by email.
Marketjedi@gmail.com
How you like the open plays FAZ long, SPG short, WFC short and PALM short.
Got some more coming !!!
MARKETJEDI- Only winners
Friday, February 27, 2009
DOW 6000s???
GDP is down 6.2% and they said we weren't going into a recession. Folks here come much much lower prices in the market dont be crazy buy and hold is all over, all over.
Citibank essentially being nationalized this morning, who next? BAC.
We been saying all of this over a year ago right on this blog.
Citibank essentially being nationalized this morning, who next? BAC.
We been saying all of this over a year ago right on this blog.
Thursday, February 26, 2009
Market Notes
Today was terrible day for the bulls. They gap us up and thought they would get some more upside and bam the sold us off. I for one was totally blindsided by the move as technically it looked bullish but they just could not end the selling of the bears. Man today was surely one of those days for the books, it was that crazy.
Next week is March and I think March will be one of those special months. I thing we hit a low much lower than the November lows in March and scare out many, I know I sound like a broken record but that's what I see.
The banks were the best performers on my list today, how crazy is that but they are thinking the administration is goign to pull something magical out of the hat. Let me tell you there is NO PLAN, if there was one we would have heard of it already. I am still short STT and WFC in the banking sectors and staying that way. The fact is the banking industry on a whole is making ZERO profits and it will be like that for a long time so why buy those stocks.
Lets rock
MARKETJEDI
Next week is March and I think March will be one of those special months. I thing we hit a low much lower than the November lows in March and scare out many, I know I sound like a broken record but that's what I see.
The banks were the best performers on my list today, how crazy is that but they are thinking the administration is goign to pull something magical out of the hat. Let me tell you there is NO PLAN, if there was one we would have heard of it already. I am still short STT and WFC in the banking sectors and staying that way. The fact is the banking industry on a whole is making ZERO profits and it will be like that for a long time so why buy those stocks.
Lets rock
MARKETJEDI
Goldman Target
Goldman Sachs just initiated a S&P target of 650 5 minutes ago. I guess the big guys are now bearish
Wednesday, February 25, 2009
Scary Thought
Many of you know how I feel about the markets and the intervention of the FED and government to slow the fall of the markets. It would be great if they had their hands off and let us have a huge sell off at higher prices and I would almost have guaranteed that we would not have seen these prices here. Well since we did have intervention all we get are pops which are then sold into prolonging the inevitable.
I have been talking to many traders who have years experience or me and most are saying the same thing: March will mark some huge sell off where we can work higher in the intermediate term.
As of today I have a possible low towards the end of next week from my analysis but one trader who I admire very much told me today that his analysis is telling him a significant low will be in mid March. Only thing I can deduce from our talks today is that sometime in March we will get a sell off which will get us below those November 2008 lows solidly.
Some first numbers I have are 716-718 area on the S&P then 680. I hope we are both wrong but it was so striking that we use totally different methods and came to the same conclusion.
For us traders it doesn't matter where the market goes as long as we are on for the ride. I am keeping my shorts here no matter what and if we rally I will surely add.
MARKETJEDI
I have been talking to many traders who have years experience or me and most are saying the same thing: March will mark some huge sell off where we can work higher in the intermediate term.
As of today I have a possible low towards the end of next week from my analysis but one trader who I admire very much told me today that his analysis is telling him a significant low will be in mid March. Only thing I can deduce from our talks today is that sometime in March we will get a sell off which will get us below those November 2008 lows solidly.
Some first numbers I have are 716-718 area on the S&P then 680. I hope we are both wrong but it was so striking that we use totally different methods and came to the same conclusion.
For us traders it doesn't matter where the market goes as long as we are on for the ride. I am keeping my shorts here no matter what and if we rally I will surely add.
MARKETJEDI
WOW- No follow through
We just can't muster up two up days geez. I dont know what else to tell you folks who wont listen. Well I think we get a decent flush out early March and get a tradeable rally. There is a good shot this scenario works out and flush out the last weak bulls.
Now the question as usual is how far we bounce when that happens I have no clue but I will be playing it, whichever way it goes.
Still short STT, PALM, SUPG and WFC here and Not covering, why should I.
MARKETJEDI
Now the question as usual is how far we bounce when that happens I have no clue but I will be playing it, whichever way it goes.
Still short STT, PALM, SUPG and WFC here and Not covering, why should I.
MARKETJEDI
Subscribe to:
Posts (Atom)
