BYE BYE Market nice knowing you. WARNED you not to buy the 900 point up day last week as it is a fact that the biggest point gainer days are in BEAR markets. Don't be stubborn and listen to the idiots on TV and at your brokerage firm telling you to dollar cost average and hold for the long run.
It aint going to work!!! it is all wishful thinking. I am up 15% since yesterday while the market is down over 900 points on the DOW. DON'T listen to these scammers they are the same ones who told us to buy stocks while their upper level management was selling with both hands and walking away with huge bonuses.
Time to wise up.
MARKETJEDI
Wednesday, October 22, 2008
TRADE CALL UPDATE: QCOM PUTS
OK they are bidding $9.10 here but I am holding for a double so I am looking for more
Dont Kill the MESSENGER.
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.
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.
Tuesday, October 21, 2008
Just no legs.
Just no legs in the market it seems today. I am back full time tomorrow and will see if we have some set ups going on. I have literally just been playing futures for the first hour of the last 3 days and doing some personal stuff so sorry if the blog is light.
QCOM seem like it wants much lower, I am targeting those options as a double as my target right now and SNDK looks like it will be good too. Man oh man just no helping the credit markets, the FED just said this morning they will be buying commercial paper too facilitating over 540 BILLION to unfreeze this market too. I just dont understand why the banks are just not doing anything? I can tell you what it is the banking business is DEAD, BROKEN and obviously run by a bunch of morons and them not the FED will be the main cause of this prolong recession.
MARKETJEDI
QCOM seem like it wants much lower, I am targeting those options as a double as my target right now and SNDK looks like it will be good too. Man oh man just no helping the credit markets, the FED just said this morning they will be buying commercial paper too facilitating over 540 BILLION to unfreeze this market too. I just dont understand why the banks are just not doing anything? I can tell you what it is the banking business is DEAD, BROKEN and obviously run by a bunch of morons and them not the FED will be the main cause of this prolong recession.
MARKETJEDI
Thoughts for today
I will be in and out today as I have some personal stuff to do. The market seem to be gapping down but I would look for a buy opt using the first hour highs as entry. Yesterdays rally was on light volume so bulls need to step up efforts if we are to trend higher.
Monday, October 20, 2008
Nice day
Nice day for the markets. I have been out all day so I dont have any views on the day. I just noticed SNDK missed earnings and the stock is down, good for our put January play, which I hope it will be a double but we will wait and see.
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