Monday, October 27, 2008

TURN OUT THE LIGHTS...

The party's been over for a while, now. It's scary at this point watching the same knuckleheads keep saying the same knucklehead things and the market does the same thing day after day. Yes, we are closer to a bottom! Of course you idiots! The market keeps going lower, ROFLMAO! Yes, you right for sure! DOW 8000 is closer to a bottom than DOW 9000. When we are at DOW 5000 we'll be even closer! UNREAL! Even guys who are smart and should know better like Art Cashen, they are all wishful thinking the market, as though its going to work. HELLO! HELLO! The market isn't going to zero, but it isn't going to get a 3 month rally either! It's not happening, sorry, folks! And, its NEVER EVER NEVER coming back! Sorry, you can wait 500 years and it's not going to new highs on the current S & P stocks! It's NEVER coming back. GE will never EVER NEVER see $40 again. MSFT isn't ever NEVER EVER seeing $35 again. It's just not happening. And, thats one of the problem, the notion that the market has to come back over time. NO, that's wrong and I will continue to say that until I am blue in my face! And, I'm going to put my money where my mouth is, I think I am finally ready to start the Hedge Fund. I've gotten many emails asking me to do so, so I'm going to relent I believe and do so. I'm tired of watching these idiots lead people like Lambs to slaughter! So-called experts who know NOTHING other than to say "nows not the time to sell, you should be adding, we are!" Yeah? How are you doing with that strategy? Working for ya? No, of course not, you are killing people and you will kill your clients when we are DOW 4500, which we will be unfortunately. So, we'll see, I mean, I could lose money, there aren't any guarantees at all in the market, maybe I'll smoke people, too. But, one thing I am sure of, it won't be because I am only buying stocks that I think have no shot to go up. That I am quite sure of. My new book, Rule Your Freakin' Retirement, will be the 1st book ever that I am aware of to teach trading techniques and recommend you NOT be invested much in the market. Blaspheme? No, its smart. When this is over unfortunately people are going to lose EVERYTHING and many many people won't be able to retire, its very sad. We have blindly trusted the system and the institutions that were created merely to be self serving, and now they are feeding people the BS that its not the time to sell. Let me be clear, now IS 1000000% the time to SELL! Sell while you still have something left, folks, cause I believe you won't have much if you hold for long. I'll see ya at the BEAR HUNTING CLASS tomorrow! If you haven't signed up, you need to do so NOW! Email - sally@trendfund.com and she'll set you right up! RULE!

7 comments:

Rich said...

Hi Waxie,

You have said on several occasions in your blog that the market will never go back to new highs. Would you care to explain in more detail why it won't? No, I'm not posting this as an argument, I have no idea if it will eventually go back to new highs or not...and as trader I don't really care. I'm just curious to know why you think it won't.

Thanks!

Sunil said...

Waxi,

I can see why you are so negative on the markets and we will probably see 4500 in the next 12 months. But as a trader, we would also like to know more short term outlook on oversold bounce. Do you think we are getting near that right now? If yes, how much rally would you expect? Thanks.

Waxie said...

rich
if you look at the 2000 to 2003 bear market you will see that we emerged from it with new leadership. while the indexes might recover, the individual stocks that are leaders now will likely not be part of that move. I don't think it'll happen anyway, but if we assume it will then it'll be with new momentum stocks.

sunil
market should bounce here into Wed. FOMC. I think any rallies will be sold into until at least 2009. So, I would trade rallies but I would not go to bed with them, so to speak!

Rich said...

Thanks for the follow-up Waxie.

beach2788 said...

When the FED lowers to 1%, then intrinsically stocks become more of a buy, becasue the return on treasury notes and bonds will be too low. You can't beat the market when the FED throws this much money at it @1% rate, the money will come back in.

Just too many dollars circulating.

Ming said...

Looks like we are going to have a tradeable rally. What's your idea?

Ricky said...

Money has been thrown at the market plenty. There's no lack of money. Just a lack of trust. Lowering rates places more band-aids on top of the already useless bail-out plans, discount window etc. Sorry but i don't concur rates at 1% makes stocks a buy.