THE SKY IS FALLING, THE SKY IS FALLING!
Well, ok, maybe not...yet. But, as I stated and have pounded the table with you AGAIN AND AGAIN AND AGAIN for MONTH AFTER MONTH AFTER MONTH, this market is headed LOWER! You can not invest in this market, it is financial SUICIDE in my opinion!
I want to make one point which as you know has annoyed me to no end lately, we keep hearing people TWIST facts into pretzels and the spit them out as reality! As I've said, the IDIOTIC bill that they passed today had NOTHING to do with the market going up or down! NOTHING, ZILTCH, NADA, NUNCA, ZIPPO! It was insulting to our intelligence to ram that down our throats as a fear mongering way to try to sway people to vote for it! The stock market is going MUCH MUCH lower, it doesn't matter what bill they pass unless they pass one where the government really decides to nationalize the ENTIRE market! That's what they should do, just pay 3 X's the share price of each stock that it'll go up! Otherwise it's NONSENSE! This was the biggest CON EVER! In the history of this country there has never been such an out and out CON JOB! It's appalling. So, ok, since even congress was saying "see, if we vote no the market will go down!" and since they passed this LUDICROUS bill, then when do they come out and say "oh, gee, we passed it and the market is at MULTI YEAR LOWS anyway! So, they passed it and the market went DOWN! Frankly, its absolutely stuptifying to me that we elect people who are this ridiculously ridiculous! This bill does NOTHING for main street - NOTHING. They keep billing it as such, but its a LIE. A complete and utter LIE! Period, end of story. It doesn't create any jobs, it doesn't create a SINGLE job! Not one, unless you count some rich dudes who use this to make themselves even richer. It's sickening, truly sickening. OK, so I've railed enough, right? WRONG! Those of you who know me for years know I speak my mind, I can't help it, but until this bill I've refrained from really tearing into anyone or anything. I'm opinionated but I am here to help you guys with the market and such, not to tear into anyone. But this impacts us ALL and we're ALL in this together. You may or may not agree with my arguements but the facts speak for themselves. The notion that this was going to solve the problems that the very people who proposed this DUMB bill helped create was and is and remains patently absurd. Now, you know my obligatory thought - I HOPE I'M WRONG! I really do. I do not want to be right about this stuff, please please, let the market go up 2500 pts from here! Let this bill work and free up the credit markets! The problem is, I think thats hoping against reality and I don't get paid a lot of money to HOPE. I get paid to deal, or at least try to deal in REALITY! I suggest you all do as well. In my opinion, the only thing that's REALLY happening (the rest is HOPE) is that the people who created these issues, these monster problems are being BAILED OUT! That's it,folks. That's reality. Mark to market, buying WORTHLESS distressed assets, and trust me, they are WORTHLESS, what and whom does it help? You? Me? Our families? Nope, not at all. This notion that these assets have much if ANY value is absurd. Did you see Bill Gross today on CNBC? He spun a pretty different tune today about these assets. Up til now the party line has been that the government doing this was going to create MORE value for them. That's HOGWASH. It's nonsense, and now these people are saying it, now that this IDIOTIC socialistic and downright ATROCIOUS bill has passed you'll see people say "oh, well, I never said it would work! BUT, we had to do something!"
This is a travesty and it makes me sick. I am sure the forefathers of our country are rolling over in their graves, watching the belief systems that we were founded on and that they fought for, are being decimated by rash judgement, and an out and out SCAMMING of the American people. Now, look, the market will bounce, and when it does it'll bounce heavily and then they will all say "we've bottomed" and I will continue to tell you all that it hasn't, that we are headed MUCH MUCH lower and that if you wish to surive this market and this economic disaster, you must be cash rich and pick your spots. This market is a VERY good trading market, look at today, we went up 300 and then we sold the news, which I said we would. A nearly 500 point range is a GREAT trading market. A GREAT trading market and an obscenely POOR investing market. Tiny and I talked tonight about it, this market is trading like its about to fall off a cliff folks. I've never read or seen a market like this and it is, most assuredly, teetering on the edge. If it falls, baby, look out below. This bill is a travesty for democracy and the abuse that was heaped upon us to get it passed is, at least in my lifetime, unprecedented. And, the pom poms that were out leading up to this, what do they say now? Now that the market didn't just rally, now that we are sitting at multi-year lows? Now that we watched the AG sector get completely destroyed. Now what? Watch the solars, they are next to go, and the financials that have been so strong, they sold off on the news. Again, its unlikely we won't get a HUGE rally soon, we're vastly oversold, but as I've been saying, the market remains VASTLY VASTLY VASTLY overvalued and thus any rally should and must be sold into. We will trade it long and swing it short cause baby, thats the market and if you want to make money in the market you gotta go with the flow dudes and dudesses, go with the flow! Have a great weekend, let's smoke 'em next week! I hope you aren't investing, Monday we're either gonna get a bounce or you might have a very VERY big headache. We shall see what we shall see, but this time Chicken Little just might be right...it's funny (one last thing), every pundit walks onto TV and says that the market is a buy unless the sky is falling, right? But they all said the sky was GOING to fall if this bill wasn't passed. Think about it. I hope the sky doesn't fall, but if it does then the best thing you can do is NOT be a sitting duck. Investing in this market makes you a sitting duck in my humble opinion. I hope I don't offend too many, I am here to help you guys and gals, that's my intention. It's sad to me as an American, to watch us get hoodwinked, which is what I believe happened here. Yes, something needed to be done - create REAL jobs and growth organically - but not to bail out the cancerous system that helped create it. AND< irony is, it's not going to work, its going to make it worse in my opinion. Happy New Year to all and to all a good night! Relax, next week is gonna be a doozy and I intend to ROCK IT! RULE! BTW, has anyone seen the Beer Guy? :) WAXIEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE
*For those of you who missed yesterday's TOP TEN SHORTS class and LIST, you can still get in, there's still time! You can sign up for it and get the archived WHOLE CLASS! Email me @ - email@example.com and I'll forward you to Sally who will get you signed up. The class archived is the same price as regular, but seriously its time for ALL of you to get it! Don't get caught in this mess, learn from our success! RULE!