Monday, July 21, 2008

TECH SHORT, see ya!

Well, after the close AAPL blew out, but posted poor guidance going forward - DUH! Stock is trading down roughly $15 from the close here now, and looks like it wants the other side of $150.THUSDAY of this week I will be unveiling my TOP TEN TECH SHORTS, I suggest you ALL attend. An alert is going out today and tomorrow to sign up. Yes, its going to cost ya, but if you are an investor here, or a trader I STRONGLY urge you to come to the class. It might just save your butt, or make you oogles of money! I have 10 TECH stocks that I believe will drop AT LEAST 50% in the next 12 months. I'll be detailing some ways to play them, and we'll go over them. Before the class giving the actual plays there will be a SHORTING class I'll teach that will show you how to short stocks if you have never done it. Look, folks, you can believe me, or disagree with me, or whatever you want, but the bottom line is - the stock market is going WAY WAY WAY down over the last few years. You want to sit there with some cotton in your ears, I can't stop you, but if you are investing in this market you are gonna get wasted. Trading? Well, now you're talking! We will get many tradeable rallies/bounces, but eventually most will be fades and shorting opps. AXP reported that hings are HORRIBLE and the stock get CRACKED here. Today we called SKF calls, this is the ETF for the financials. We called it when it was roughly $132.50. It's trading at $143ish after hours and looks like $150 could come tomorrow potentially. Whoops, there goes AAPL below $150, ho hum, who knew? You need to trade this market, forget investing, its a very bad idea folks. The market is going DOWN, and you need to be able to protect yourself AND learn to profit as it goes down. Wake up and smell the coffee even if you don't eat breakfast. TECH is the next sector to CRACK completely. All the idols of the analysts are going to get CRUSHED. AAPL is under $150 and headed LOWER. It's time to get with the program and its time for us to start profiting from what we know is going to happen. FNM hit $18.80 today! Are you kidding me? It's going to ZERO. I stick with that call, and I stick with the SKF to $250 short term and $400s longer term. I'm sorry, I hate to be the grim reaper, but last week's rally was nonsense, it couldn't possibly last long. Join me on Thursday in the TOP TEN TECH SHORTS class I'm giving. Price is $149.00 for the class. The shorting pre-class is $29.95. Ok, I said it all, you can email me if you need further info on the classes - waxie@trendfund.com. So, the day was pretty much flat and choppy. Yes, we were down, but all eyes were on AAPL and AXP...whoops, AAPL is now headed to $147s! Jeez louise, they are cracking this I-Pod monger! We chopped around all day. I called some stuff for Options Trader and we had GDP long for a nice pop late day. I got stopped out of my BIDU short, though that thing looks like it wants to lose it as well with GOOG pushing down heavy (and headed MUCH lower long term). CLearly tomorrow we're going to get a HEFTY gap DOWN. DO we bounce? If so, how much? THese are good questions. I suspect we'll get a nice bounce somewhere intraday, but the overall trend remains DOWN and anyone picking bottoms here is gonna get CRACKED long term I believe. AGs worked again, so did oil as people fled the financials and tech. See ya all tomorrow, lets see what shakes and where AAPL finally lands. Wow, this thing going WAY WAY down here, still falling like a ROCK! Sorry, but just cause a company has good products does not make it worth $150 BIL! Take that to the bank and smoke it, or hash it over! RULE! Waxie

4 comments:

Thomas said...

Waxie,

Tiny is talking about the potential for a short-term bounce in the major indexes here. Could possibly be as high as bouncing off the bottoms of their respective declining 200-day emas if resistance at the shorter emas is broken. The last four SKF daily candles all have lower highs and lower lows. Plus, the MACD for SKF is declining, showing continuing weakness. Why the calls on SKF now? Seems early. Rule.

JB said...

Waxie,

Wow what a day? Are you going to be shorting this rally or are you buying into that we have a short term bottom? I don't think that is the case but I like you points of view.

Thanks,
J

Mario D'Agostino said...

wow, skf at $122 on close, Apple bumped back to $162, Bid is shooting up last three days, what's up? Even the $rut hit $717.

Waxie said...

We sold the SKF calls, Thomas, right near the open for a better than 50% profit.

Guys, we're TRADERS, not investors. You get in, you get out. SKF will be $250+ I believe. So? I'll short it tomorrow if I think it's going down. If I wasn't under the weather today we mighta shorted it. Ready tonights blog, I will talk more in depth about this. SKF may see around $115 area, but I don't think it gets much lower than where we are now. I guess it could go to $100, that's possible, but not sure it'll get that low. THis is a BS Bear market bounce. You can go long, dudes. Jut cause LONG TERM you think market is going down, doesn't mean we don't EVER DAY take something long. DOn't become an investor on te short side, that's just as foolish as being one on the longside!