NO DEAL!

Thank goodness! Maybe we can salvage some integrity and democracy. The House rejected the proposed bill of goods they were trying to sell us. This country was founded on principals, and part of those are that the government is supposed to be by the people and for the people. The PEOPLE have spoken loudly and clearly, NO WALL STREET BAILOUT! It is sickening to think that the same people who created this mess, including Paulson and Bernanke, will potentially profit from this bill. People, and rightfully so, are sick and tired of the BS. Sick and tired of the lobbiests, sick and tired of Wall Street fat cats pillaging the economy and their own stocks and investors so that they can profit. What happened today is what should have happened today. And, unfortunately its going to continue to happen. The DOW will be under 5000 when this is over, thats more than 50% left in this mess. It either happens now, or the government continues its nonsense and it happens later and hurts even more Americans. I am SO FREAKIN' SICK of listening to "leaders" who are clueless, who repeat things verbatim as though they are fact. Who tell you that we're near a bottom. Why? Not because its based on anything factual, but because they WISH it would happen. How many so-called experts have trekked onto CNBC over the last few months and said NOW is the time to buy FINANCIALS! Even today they were saying it! Even tonight, right now, Kudlow is saying that MAYBE this is the bottom! Folks, this is NOT the bottom! And, Maria says that this is because of the failed bill. That is NONSENSE! The stock market was down 300 points when everyone thought the bill was a sure thing to pass! Enough of the fear mongering, enough of the false promises, enough of the total BS partisan politics. What does it matter who voted for or against this rubbish? They are completely missing the point! The point is a system failure, throwing more and more money is ridiculous! And, let me tell you this, the absurdity of saving families from foreclosure is just that. I sold my apartment recently and thankfully. Why? Becuase I thought the market was going down. I sold it for roughly 20% less than I could have gotten a few months before. Trust me, thats a freakin' lot of money and its money that I surely could use. Everything is relative, folks and I could not afford the place anymore. And, I didn't want to afford it. So, I downsized because I didn't want to be a slave to my apartment. And, because again, I thought the real estate market would tank even harder. So, I rented, and I'm a lot happier, I don't have to worry about all this nonsense. If people are living above their means, whether they are filthy rich and doing so, or they are poor and doing so, then making an adjustment HELPS THEM in the long run. Making it so people stay in homes they can't afford is NOT doing them a favor! It's absurd the notion that everyone should be bailed out. And, its working AGAINST the markets, all of them and it is tanking the economy a lot worse than it would if the markets were allowed to run their real course! First we heard how it was the dreaded short sellers! Oh, they are scary people, those short sellers! EVIL! Yeah? Well, guess they musta been the reason we fell 777 points today, right? Oh, shoot! Can't blame them! You can't shoot the financials! Trust me, I would have made a million today if I could have! It was free money today if so! I made nicely as it is, but jeez louise were there some easy trades today or what?! OK, now we need this bailout to save the markets! It won't work, water will find its own level no matter what, thats reality. So, the notion that the failed package is now the reason we fell is again utter BS and I am sick of it! Did I tell you I am pissed off? Well, hehe, I am! But I am happy they turned this away. It WILL NOT WORK! IT WILL NOT WORK and IT WILL NOT WORK! The stock market is going down! There is NOTHING that could or should be done! I am just happy that I have helped a lot of people, I think, by pounding it again and again to not invest! Stay in cash, or trade, but investing in this market is INSANE! Now, tomorrow is obviously Tuesday. Do we get turnaround Tuesday? I'm not sure. I think that where we want to concentrate on the techs on the short side. If we do get a nice rally, which I hope we will again begin to look for places to reenter shorts! Also, tomorrow is the day when redemptions are gonna come in and so it could and probably will get even uglier here. IF congress passes a bill, I think it'll provide a squeeze for a short time that we can trade off of, but that's all its going to be. We need to be nimble here, folks, and you need to sign up for Thursday's TOP TEN WAXIE SHORTS. Yes, I believe that the there is a LOT more downside and I believe that the stocks I have are going to STILL be down more than 50% from here! Just like the overall market! OK, that's enough ranting, but it's a good thing the market comes down. Oy, OK, I have to say something else because as I write this these knuckleheads on CNBC saying that look, because the bill didn't pass the market lost 1.4 TRILLION and if they passed it then it would have only cost 700 BILLION! Who books these people? That's INFURIATING! Am I am idiot? Seriously, am I? Becuase I must be, since the market was down 300 points into the bill supposedly passing, its a huge leap to say that if the bill passed we would have rallied! And, that's why we will continue to head lower over the long haul, because as I've taught you all, when a market is reliant on outside forces to drive it higher, it has to fail. Why? Becuase there are only so many outside forces to rely on and when they run out, then the market has to eventually settle in at the level it would be without those forces. And, that place, my dear friends is a LOT LOT lower than where we are now. Lastly, I've said this before and I'll repeat it, I HOPE I AM WRONG! I would much rather the markets, all of them, rallied! I'm a trader, I am confident that I will make myself and help my clients make money either way, but unfortunately I am almost always right about this stuff. Sometimes I feel like I'm in the Dead Zone, hehe. It sucks cause my crystal ball says under 5000 on the DOW and under 1000 on the Nasdaq and today was just a stutter step on the way there. Remember, don't try to catch falling knives cause even if you grab them an inch from the ground, they still slice right through ya! I'll see you guys tomorrow. I hate it that I get to say I told ya so, but I did and I have again and again and again. Thanks for the emails thanking Trendfund.com. That's what we're here for. We're not always right, but we're always passionate and we usually are! TECH death coming soon to a theater near you. SO much for AAPL and RIMM and GOOG and AMZN being the 4 hoursemen. More like the 4 donkeys. Or, 4 bustout stocks. SIGN UP FOR THE SHORT CLASS! Do yourself a favor, I know many of you are worried and scared, take some action to better your position! The class is cheap and at the very least it'll give you some ideas! That, my friends, is worth its weight in gold in this market! GOOG sees $150, you heard it here long ago and you'll keep hearing it. See ya on the other side of 10,000, or turnaround Tuesday! Turnaround or bust Tuesday is what we'll dub it, cause I think we either turn around or test 10,000 more than likely. We shall see soon enough! RULE! Michael "Waxie" Parnss Here is the link to the short class Thursday, sign up NOW! ---- www.trendfund.com/banners/bannerthru.asp?bannerid=991 Sign up NOW! The people have spoken, and the representatives, thankfully, have elections in a few weeks and want to keep their jobs! Maybe the worm is turning, ya never know! RULE