Happy New Year!
(taken from Xtrends) Thank you for the composition.
Just as our government leaders didn't see what was coming then, they certainly do not see what is coming now.
Fasten your seat belts and welcome to 2010.
11/01/2009 "Ticket to Ride"
Now that was some ride! We gave you the ticket. We hope you rode it down and cashed in. We did!
The market has rolled over as expected. The Obama bounce of 2009 is over.
While we all appreciate the attempt of the government to save us from ourselves, once again their programs won't work.
GDP at 3.5% is all smoke and mirrors due to government induced capital. This will be the highest GDP report for sometime.
Each extra cash for clunkers sale cost $24,000 to the taxpayer. http://www.edmunds.com/help/about/press/159446/article.html.
The first time buyers home allowance has now buried new homeowners into their own money pit. Taxpayers are on the hook and the new home has depreciated like a new Chrysler mini-van being driven off the lot.
The only salvation of the economy is business, not government. We could just have a bunch of services like the post office and Amtrak but eventually someone has to pay for it.
While the market should rally this week to once again fool the masses into buying more garbage stocks, it is only setting up the next massive sell-off.
The S & P could make a lower low Monday but either way will most likely rally back to the 1060 - 1075 level at which will provide one of the best long term shorting opportunities of a lifetime.
Stay tuned.
10/25/2009
This market won't die! Yet!
Covered most all short-term short positions Friday. Hedged long term shorts with short term Nov SPY calls and Short sales of Nov GS puts. Look to re-enter all short positions this week or at least by next week.
The longer this market goes up, the worse the fall will be.
If the market can rally into the end of the month, we should see multiple non-confirmations and trade-able divergences.
Covered most all short-term short positions Friday. Hedged long term shorts with short term Nov SPY calls and Short sales of Nov GS puts. Look to re-enter all short positions this week or at least by next week.
The longer this market goes up, the worse the fall will be.
If the market can rally into the end of the month, we should see multiple non-confirmations and trade-able divergences.
October 21, 2009
Responding to criticism that the Obama administration's $787 billion in stimulus spending hasn't done enough to boost employment, House Speaker Nancy Pelosi told CNBC Wednesday that the recovery package passed in January has created or saved one million jobs, and without it, the economy would be in much worse shape.
AP
Nancy Pelosi
She did say, however, that more needs to be done.
"It's not enough to say we saved jobs, and we haven't created enough," she said.
As a result, the administration is considering short-term initiatives to help businesses boost hiring, such as a $3,000 tax credit for adding new employees, Pelosi said.
It has discussed extending health benefits from COBRA, so that people who have lost their jobs "have some relief," she said.
The government's multi-billion investments in health care and energy are also designed to create more jobs, she said.
"And we thought Rick Wagoner of GM was incompetent...God Help Us All!!!!"
The Top is Here!
10/15/2009
Been a while since the last post. If you call a top too early, you are simply wrong. The best line learned from Cramer is "diversification is the only free lunch."
While I've continued to cry SELL! It has been too early. (i.e. wrong). Hedging my short positions with call options has kept an early call from being a drastic call. Diversify, hedge, whatever, it means the same and works. Always be protected.
However, by tomorrow afternoon, all hedges will be lifted and diversification thrown to the wind. (I will use stops of course).
Google did blow out the numbers and should take this market over 1100 S & P. 1107 should be hard resistance. 1125 is my stop. I am giving a lot of leeway for the stop.
The market is tired and leadership waning. (GS, IBM).
Without going into the fundamental reasons why banking and the economy suffers with high unemployment, etc, etc, etc...or post technical charts, I'll merely say SELL!!!!
Welcome to the Great Bear Market of 2010, 2011.
Been a while since the last post. If you call a top too early, you are simply wrong. The best line learned from Cramer is "diversification is the only free lunch."
While I've continued to cry SELL! It has been too early. (i.e. wrong). Hedging my short positions with call options has kept an early call from being a drastic call. Diversify, hedge, whatever, it means the same and works. Always be protected.
However, by tomorrow afternoon, all hedges will be lifted and diversification thrown to the wind. (I will use stops of course).
Google did blow out the numbers and should take this market over 1100 S & P. 1107 should be hard resistance. 1125 is my stop. I am giving a lot of leeway for the stop.
The market is tired and leadership waning. (GS, IBM).
Without going into the fundamental reasons why banking and the economy suffers with high unemployment, etc, etc, etc...or post technical charts, I'll merely say SELL!!!!
Welcome to the Great Bear Market of 2010, 2011.
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