Don't kill me because I am telling the truth and it is not good. The fact of the story is the economy is walking on one leg, it is NOT MY FAULT.
Wachovia who I have been saying for over a year along with WAMU, Citibank etc are in some serious trouble and honestly run by a bunch of morons. Wachovia just reported a record $23.9 Billion loss the most ever by a lender in the U.S. I said it a couple months ago if Citibank took over Wachovia that stock would be worth $1, nothing more those too banks are so sick and they don't know it because they don't have proper management in place to analyze and implement a vision to adapt to changes in the marketplace.
Right now the market is DEAD. We will be in a trading range till be break significantly lower as the market in my opinion is VASTLY overpriced. I have one suggestion to my readers. Don't buy stocks because the days of buy and hold are OVER. I am not saying we go straight to 5000 on the DOW but long term the market will be much much lower and that's a fact. Only thing you should be buying is ultrashort ETF's and trade positions when we do get bounces.
My Fib's timeline projection is predicting that this Bears market should last to a minimum next year November, so if you are long or own mutual funds based long, you will be in alot of pain for another year.
SNDK PUTS ARE NICE!!!!
QCOM PUTS ARE NICE!!!!!
ONLY WINNERS HERE PERIOD!!
MARKETJEDI.
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