Wednesday, September 10, 2008

1000 point down day, coming SOON!

I'm beat, folks, but wanted to write SOMETHING!

We are going to get that 1000 point down day shortly I believe. This market is on the verge of busting to the July lows and less!

We are kicking butt, and rockin'!

See ya on the other side

Waxie

7 comments:

jpa said...

Hello WAXI: on 8/20 a bought 2 PUTs of LEH strike $15 and it went down a little to $13 then UP on the news of possible investment from Asian Banks to $17 so I was loosing but hang in there... on 9/10 it drop to $7 so I was 141% in profit... then the next day 9/11 there is no bid:0/ask:0 and price is my original investment... THAT REALLY SUCKS!!!

suri said...

Are you out of your freaking bald mind?

thomas said...

Waxie,

Why is the news that Lehman is looking for a buyer so great? This is why the market was up today? Pathetic. Kind of like a dead man looking for a dancing partner. Whoopie! Plus, the Fed is trashing the dollar and our future by running its printing presses 24x7 with bailout mania. Why isn't gold $2000 instead of $760? None of it makes any sense.

thomas said...

Waxie,

What's up with this market. Lehman is dying on the vine and the market has a very good day because they're looking for somebody to buy them out? This is good news? The Fed is bailing everybody that comes a callin' because they don't want the whole house of cards they created to collapse, and the market surges when they announce another "rescue." Why is gold $760 when it should be around $2,000 with all this mess? What's going on here?

Waxie said...

JPA, call your broker, you are misinformed. They can't just evaporate your contracts, hehe!

Suri, I've been called worse, but you can mark it down, we will have 1000 pt down day in the not too distant future.

LEH news is that more than likely they go to zero, just like BSC and probably just like MER after LEH.

It's not good, but the market is not logical.

beach2788 said...

Thomas, good questions, does not make sense, I think manipuilation for options week, also 9/11 someone (govt mybe) throws money in the market to make things look good.

jpa said...

You were right, great WAXI... what happened with my LEH puts was that they(Fidelity) changed the name of the option but the window with the pre-readyTOsell order does not get updated...Robert Hsu Editor, China Strategy speculates that China is out to lost much if US economy collapse, and would invest to save its best market?