I think we will get a TRADEABLE bounce here soon. If we do S&P target will be 1385. Why I just think just a tradeable bounce? because I think that's all we will get for now.
I will be closely watching those financials next week to see what they saw about their earnings.
Remember next week is options expiration..
Thursday, June 12, 2008
BEAR Market Trading
For those who dont believe in the bear market scenario we are in, the market is trading as such. Today we saw a huge push up got sold off. In bear market rallies are sold into, classic set up. Also the bear market wont end till the big winners also get sold. So we are no where near a bottom till we see selling in the Ags and Oil stock. Then we will capitulate with a deep flush and then rebuild on a strong base.
Proof Wall Street ANAL-yst are IDIOTS
Some analyst from Morgan Stanley just upgraded the financial sector. Now we get this news out of LEH -- EXCElLENT call NOT!!!!!
Listen to these idiots you lose money - I keep on tell you but hey I guess who am I :)
Listen to these idiots you lose money - I keep on tell you but hey I guess who am I :)
LEH Firing
It is my view that more is about to unfold on this news on the firing of the top 2 at LEH. I would not be surprised if LEH has to go raise more money or the firm ends up illiquid. There is no doubt in my mind LEH might not exist in a few years if not earlier.
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