What the heck is happening? ahahahhahaha. I know!!! We have a bunch of idiots in charge. Where is the cinderella ( Goldilocks) economy Larry Kudlow? Where are the bull stocks Cramer?? I dont see them, maybe they are trading on some exchange only they have access to HAHAHHA. What a SCAM.
Can you imagine our legislators are trying to sue the Saudis. That is so unreal, which court are the going to. Look if I am running a business I have no obligation only to sell to one customer and on top of that at a cheaper price. American politicians are a bunch of Morons. Maybe they will read my blog and have the FBI on me but then I will ask them in their faces "Isn't this a DEMOCRACY" I can say and criticize anything or anyone in a DEMOCRACY. Oh no I hear them knocking at my door right now, what a bunch of idiots.
Most of you wont want to hear my true thoughts on where we will be so I wont spill it out and bore or upset you, but will continue to call the market as I see it.
Alittle story of something that happened to me last night. Last night I saw one of my neighbors and he said "hey guy everyday when I see Oil prices I think of you", I said really. He recalled to me that I told him early last year when Oil was @$49 that it would goto $105, I laughed. He then asked me how can he profits now. I said hey I told you twice last year buy some USO because Oil is going to $100 he laughed at me, maybe he thought I was a nut :)). Now he want to open an account and play Oil, good luck to him as I am not a gambler even though I know Oil will go high. He asked me why was oil so high and since I had told him in February last year that Oil would double he wanted to hear what I had to say. Not to break his heart I said I dont know, I just know it wont go back to $50. He then said emphatically! what happened to the Oil we went for in IRAQ. I said not me you went for Oil. I said it is KARMA!, if that's why the US went into IRAQ, this is what should happen. No one gains by doing bad things and bad things only lead to bad things multipled.
What totally cracked me up after I said I dont know why oil is so high. He said we should just attack Canada !!! I said WHAT!!! What has Canada done to America? He said they are selling their Oil to China and not us. I was almost on my floor dying in laughter when I got in my house but then I said to myself, hmmm this is how American politicians think, let us take countries stuff because the earth belongs to America. How stupid are people!!!!!!!!!!!!!!!!!!!!!!
Well I hope he doesn't read my blog:::::::))))))).
Oh well.
I am looking for a pullback in Oil here
Thursday, May 22, 2008
Wednesday, May 21, 2008
OK FOLKS! Here is the Deal
Ok folks here is the deal. We are going to have to deal with higher oil prices and there is nothing we can do about it anytime soon. Ethanol is CRAP, solar is CRAP, only true way to get out of this is nuclear, wind and water energy.
The market here is not doomed yet. I dont believe this is the leg down to the March lows. I think there is a good chance we bounce tomorrow into friday. If we do open down and work our way lower tomorrow I would be looking for a reversal in the afternoon. Wall street wont slam us into a holiday that wouldn't be patriotic of Wall Street.
I think June/ July going to be tough. I would not be surprised if we go higher after a bounce here and that would be the last bounce we see in awhile. When we bounce we will get the nice set ups one last time on GS, FNM, C, SKF and the others. Watch for tech to go much lower after this bounce. My money will be on AAPL and RIMM to go much much lower after this bounce. AAPL can see $135/140 over the summer easily. I want to stay light here as I believe there will be a shake out soon that will rock the financial markets and lead us much lower.
I personally dont know of anyone who thinks they are in a better position today than three years ago and that has me nervous about the markets. Yes we have never had a down year in the markets in an election year but this might be the first. Don't worry!!! if we decide not to crash and burn before the election and ramp up higher we can always go that way but right now I would prefer to be light and cautious.
FNM will get to $30 on this next bounce and I will short that down for the ride this time hard. Citibank I dont think it will bounce too hard as it seem to already be dead but we will see
soon enough.
Remember ONLY WINNERS HERE!!!
Hmmm told you my target on Oil was $138 let's see if we get there before FRIDAY!!!!!!!!!!!!
The market here is not doomed yet. I dont believe this is the leg down to the March lows. I think there is a good chance we bounce tomorrow into friday. If we do open down and work our way lower tomorrow I would be looking for a reversal in the afternoon. Wall street wont slam us into a holiday that wouldn't be patriotic of Wall Street.
I think June/ July going to be tough. I would not be surprised if we go higher after a bounce here and that would be the last bounce we see in awhile. When we bounce we will get the nice set ups one last time on GS, FNM, C, SKF and the others. Watch for tech to go much lower after this bounce. My money will be on AAPL and RIMM to go much much lower after this bounce. AAPL can see $135/140 over the summer easily. I want to stay light here as I believe there will be a shake out soon that will rock the financial markets and lead us much lower.
I personally dont know of anyone who thinks they are in a better position today than three years ago and that has me nervous about the markets. Yes we have never had a down year in the markets in an election year but this might be the first. Don't worry!!! if we decide not to crash and burn before the election and ramp up higher we can always go that way but right now I would prefer to be light and cautious.
FNM will get to $30 on this next bounce and I will short that down for the ride this time hard. Citibank I dont think it will bounce too hard as it seem to already be dead but we will see
soon enough.
Remember ONLY WINNERS HERE!!!
Hmmm told you my target on Oil was $138 let's see if we get there before FRIDAY!!!!!!!!!!!!
FED minutes
Fed minutes signal no more interest rate cuts as inflation is on the rise. I wrote about this last week and it doesn't take a genius to see this in our daily lives.
TWM is sweet here very sweet. Let's see how we do towards the close.
BLOG ON FIRE!!!!!!
TWM is sweet here very sweet. Let's see how we do towards the close.
BLOG ON FIRE!!!!!!
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