Folks we are going down a slippery road economically and the leaders have no clue what they are doing. Geithner I don't trust him! here you have someone who is nominated to run the treasury but he can't even get his taxes right, hmm sound like me going to the repair shop for repairs on my car and the mechanic is never there because his car is never working.
I find it so hilarious that 3 persons who were vetted have tax problems, all these people who should be paying their taxes find their ways around it and hassle the little guy to pay his. Wall Street make billions when times are good and just keep it to themselves but when times are bad they want your tax money to help them out. Where is my job when everything is great on Wall Street? I mean why wont people talk out about the injustice that is happening. STOP taking political side and see the truth and have some morals about yourselves and your fellow human beings.
The world has become a selfish place and I hope this economic downturn change the minds of some of those who are so selfish to realize that we live in a world and not in a group with our socio-economic friends!!! Every action has reactions and consequencies, stop blaming others and pointing fingers. If everyone points fingers at each other about problems, when the heck do we start solving the problems. We are so quick to judge people for the bad and never for the good they do. No one on this earth is perfect! stop using one bad decision and override 99 good things someone has done, that's just crazy.
I see they are crucifying Phelps, for what!!!!!!! Ok he smoked an illegal drug ONCE to my knowledge and it was caught on tape. Ok did anyone remember what this athlete did just months ago? the ratings NBC got, the joy of his victories, the accomplishments of he and his coach not to mention his single monther who never gave up on him. I mean when will society stop the crap!!! You can't judge someone for one bad thing when they have done 1000 good. That's the problem with the politics and big businesses in America, too quick to judge and paint a bad brush on someone because it sells and the have their agendas plus it bring the airheaded followers in droves, to talk crap they have no idea about.
This is a sick world but I still hope that one day things will be different. Just really upsets me that people are loosing their jobs, starving, etc and politicians are playing political games with us. I hope when it is time for judgement they can answer to the higher powers.
Makes me sick.
Anyways- Keep on rocking. I am here to only speak the truth.
MARKETJEDI
Thursday, February 5, 2009
Action
Today action although positive leaves me on the fence. Right now we are coiling waiting on the 865 on the upside to confirm an uptrend or a break of 810 to trade us lower. Whichever way it breaks it 'SHOULD' break hard. Right now it is just a waiting game to see which way we tip our hand.
MARKETJEDI
MARKETJEDI
Action
Rumor is Market to Market account might be suspended. This is viewed as positive and the banks can write off more and take the hit all at once.
Pretty good idea but it is too late to make any substantial impact. Again if we rally on this rumor, it will be a buy the rumor sell the news scenario.
MARKETJEDI
Pretty good idea but it is too late to make any substantial impact. Again if we rally on this rumor, it will be a buy the rumor sell the news scenario.
MARKETJEDI
Action
Action is non eventful today- I am still under heavy paperwork here so forgive me for being off the postings this week.
Banks are dead here for sure especially with new talk about BAC, we might be in a rough patch here for a long time with the financials. Please folks dont buy bank stocks or if you own them sell them before they goto $1. I say it once said it twice I personally think any bank stock over $20 is a short and I think most will be single digits in the near future.
The market is coiling and that means a break out is coming very soon, the only question is which way.
Banks are dead here for sure especially with new talk about BAC, we might be in a rough patch here for a long time with the financials. Please folks dont buy bank stocks or if you own them sell them before they goto $1. I say it once said it twice I personally think any bank stock over $20 is a short and I think most will be single digits in the near future.
The market is coiling and that means a break out is coming very soon, the only question is which way.
Wednesday, February 4, 2009
Amazing
Amazing how we went to 849.50 on the 850 target and just sold off. Man oh man we are so weak inside here the bounces just not holding for anything.
THIS IS ONE DEAD MARKET.
We will soon be trading in the 6000 area on the DOW
THIS IS ONE DEAD MARKET.
We will soon be trading in the 6000 area on the DOW
Guess I was right!!
Guess I was right with taking off those shorts yesterday- Market getting some lift here into that 850 area. I think this will make way to alittle more confidence for the bulls short term.
Some facts
Some facts about the market here-
1) 2008 we lost all the market gains of the last seven years.
2) 2009 starting off worse than 2008
3) Buy and hold died in 2007.
4) S&P traders believe we are heading lower, most saying 6000 on the DOW this year.
5) Hedge funds being outperformed by commodity funds
6) ETFs will be the main market trading vehicles in 5 years, rather than individual stocks.
7) Liquidity is quickly becoming a problem with less participants in the equity markets.
1) 2008 we lost all the market gains of the last seven years.
2) 2009 starting off worse than 2008
3) Buy and hold died in 2007.
4) S&P traders believe we are heading lower, most saying 6000 on the DOW this year.
5) Hedge funds being outperformed by commodity funds
6) ETFs will be the main market trading vehicles in 5 years, rather than individual stocks.
7) Liquidity is quickly becoming a problem with less participants in the equity markets.
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