After the FED

FED did what we expected, NOTHING. The FED is in a tight spot, on one side, they are facing an inflationary climate and on the other side the FED is dealing with an ever weakening economy. Where do we go from here? well the day after the FED announcement is usually an up day but that didn't happen on the last FED announcement. What I would personally love to see here is a tradeable bottom of some kind to push us into earnings, if we don't get a tradeable bottom in here in a few days we are doomed to go much lower. My longer term target are still the same DOW 9000, S&P 1050, Russell 450 and I will stick by these target over the next few quarters but these are my ultimate targets for those indices. Speaking of targets I am now increasing my target on Oil based on stuff I am readings and have come up with a conservative target of $225. I think this target will be achieved within 24 months!!!!!!
RIMM reported after the close and wow! it is being cracked. One more evidence NOT to listen to Jim Cramer who has been telling people to buy the stock before earnings. They missed EPS and lowering targets and I think this stock will see south of $100 before September. Alot of people think tech is immune from a weak economy BUT nothing is immune from economic weakness. Do you believe parents will be giving their kids money to buy ipods and imacs when gas is $9 at the pump, heck no, let's be real here people.
In an downturn people will only spend on necessities and even this time people might not never be spending on that as their net worth is vanishing with a lower stock market and falling house prices. One stock I think is a decent play short is WHR (Whirpool). The continued weakness in housing makes this a perfect stock for the shorts. Yes it might be late to the game on this one since it was as high as $90 two months ago but really if it bounces how far can it really go.
Lets see tomorrow what they come out and do here. Next week is July and usually carries a bullish tone into that holiday, so lets see what happens.
Hmm Anyone notice we are now at 11811 on the DOW!!!!!!!!!! We are slowly sinking! Everyone got excited at 13000 in May and I said dont be fooled. Who is the fool now???

MARKETJEDI