Oil and Market

Has anyone noticed that Oil has been falling but the markets have been falling too?
I think short term Oil could test the $100 level and a matter of fact if it hits $102 it will be sub $100. Oil as many like Cramer has said is holding this market down NOT. the market has serious troubles and it is not Oil !!!!!

We are gapping down this morning on the Home Depot disappointed earnings, let see if we can get a turn around tuesday

I am not the only financial bear

http://biz.yahoo.com/rb/080819/usa_banks_crisis.html

Thoughts

Well I will go again here and say FNM and FRE going to $2, yep folks aint going to go up AT ALL. Call me the bear man or the doom and gloom but from what I have been hearing it is bad in bank and mortgage land.
I have one for you guys to watch- LEHMAN brothers it is going down folks. I would not be surprised if that one goes to $5 and the mighty GS will go to $135, so mark it down.
Anyways folks TECH is about to fall. I think we will get a sell off in tech before end of September so some of the September puts on the high flyers might be good to dip your feet in.
I personally think you have to be insane to buy any stock in the market right now except the ultrashorts. Yes we will get bounces but they wont last. I still have first open target for the Russell @600 before the year is over and 350 in the next 18 months and I will stick to that call and I always.
I have a trade call tomorrow for you all. It is a SEPT put on a stock I think has much lower prices.

MARKETJEDI

FNM

Wow FNM is now $7 there is no saving that one.

FNM going to $2 for sure.

Rolling Over

We are rolling over early this morning. Tested the overnight lows before 10 am is not good

This week-

This week should be very interesting. I am done with my vacationing and ready to roll here so get ready for alot of TRADE CALLS if they set up. Presently I am unsure where we can go near term but longer term I say prices will be lower. Oil is at support here and who knows what they will do but longer term Oil will be higher that's all I know.
Looking at the daily charts of the DOW, S&P and nasdaq we are forming wedges and that suggest that this uptrend is running on fumes and 'SHOULD' roll over soon, we will see soon enough.
There is no doubt we can go higher here but the wedges put me on pause. I would look for a break down before I go all out on going lower here but lets wait and see what tomorrow will bring.
One idea here I have is BIDU. I think BIDU could be $275 in a jiffy and if that breaks $220 would be my next target.

Get ready because I am back!!!!!!!!!!!!!!!!!!

MARKETJEDI.!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Oil and GOLD

Two very important commodities to watch. Lets see if Oil hits that $109.80 level but if it fails to hold watch for lower prices possibly $100.
Gold watch $720 as first major support