Thursday, November 20, 2008

BOOYAH'S PLAN...

OK, I had to comment on his STUPID 8 point plan. My gawd, the guy is always wrong, and keeps spewing nonsense as though its reality. If we did the things he keeps saying we should it would completely bankrupt us. COMPLETELY BANKRUPT THE UNITED STATES OF AMERICA! Don't think it can happen? You're wrong. It WILL happen unless the government ceases and desists from the approach they have embarked on. The notion that more intervention is going to save us is ludicrous. The more they do, the lower the market goes, and the worse the economy has gotten. Advocating more of the same on steriods will crush the economy even further and the markets. What people don't get is that the market is still VASTLY OVERPRICED! You can not artificially pump up the market and hold it up. Any plan will do nothing but incite stupid squeeze rallies that eventually get sold into. It will allow the RICH to get richer. Don't think so? Again, I repeat, where did the $25 BIL that WE gave Citibank go already? They gave it to them what, like 2 weeks ago. Where is it? So, Booyah the knucklehead wants to give out TRILLIONS and that's the answer? Unreal. It's amazing that CNBC makes this guy some type of hero, when he's a JOKE, a total JOKE. I don't have an 8 point plan, I'm clearly not that smart, I don't know how to RUIN the United States, sorry. I know, I'm getting loopy, but you would to if you had to listen to these knuckleheads for 8 hours a day, 5 days a week! My gawd, its horribleeeee! Hehe. Futures are WAY up here overnight, should be an interesting day Friday. I said we'd hit 7500 and we did, from here? Not sure, folks, not sure. We should get a decent bounce soon, probably news driven, but again, just not sure we can go very far. I guess with the right news we could go 1000 to 1500 pts which is obviously a huge move, but ultimately we've been getting typical bear market rallies where we'd get all the gains in a few days or a week and then roll back over. We're simply not going to get back to S & P 1200, I'm sorry, as much as I would love us to. But, I could be wrong, it does happen and I hope I am! The higher we go, the better. It's ok, we got out of most of our puts and shorts Thursday, so rally away, baby, rally away! I hope they get GS back to $75, that'd be a free money short in my view. It's gonna be hard to get any real lasting rally for a LONG time. So, I stick to the plan, which is to continue to short rallies and trade bounces. BOoyah, baby, booyah! Friday should be VERY interesting and VERY volatile. GOod trading model would be a nice gap up, fade it, go red, get margin calls and then get end of day rally heavy. We'll see soon enough! DOW futures (YM) are up 160s pts as I write this on no news. Gawd bless! hehe! Booyah must be calling another bottom! RULE!

8 comments:

FACTOR R said...

Waxie we all need to send email to President Obama and say waxie should be the master of our economy
and they still talking about what we should buy !!!wow

apelofsky said...

They have a plan, i.e. to go completely under Government control. What better way to destroy our system then eliminate the stock market.

Arnold

Solfest said...

Read Atlas Shrugged, we are living the book right now.

Glenjammin said...

Cramer is an idiot. The only part of his plan that even remotely made sense is the infrastructure plan. If the govt. is intent on throwing money around they should create jobs by building infrastructure. At least they would have some new roads and bridges to show for all the money they spend.

djpl8 said...

You have been dead on. Just finished your first book. I would subscribe to your service, but I have a good trading plan from Gary Williams. When this rally turns over I'm buying puts on the QQQQ's and GOOG. God bless you Waxie, it is about time someone will give people the truth.

tokyo_yoyo said...

Actualy, I respect "Booyah" for offering his thoughts, just as I do yours. Today,
he was dead on about Ultra ETFs....Here's the Yoyo Plan: Send Iraq a bill for bailing out their Shite hole. Make sure we add retirement, health insurance, death benefits, on and on etc., for our soldiers. Don't forget the 90% stake ownership either. Start there, then complain about our own bank,insurance and auto industry bailouts. Send the check to the United States of America for the biggest FREE bailout in history.

steveo said...

Waxie,first time responding to you so bare with me.Let me first start by thanking you as you have been a great help to me personally but more importantly your guidance has been a great help with how I approach the decisions I make with my clients accounts.I have been running money for 18 years and have paid for alot of advise and you hands down have the best feel for this business that I have seen!
However,I do take issue with a call you made about oil going to 200 or 250 right before one of the greatest crashes for oil I have ever seen.I know you warned to be careful for a correction to 100 than 80 but not this!You still may feel it hits that target but when you make predictions like that I think it holds more merit when you use a predicted timeframe as well.I apologize to you right now if this is not what you said but I don't think you saw oil at 40 or 50before it hit 200!
I feel very strongly that your forecast of dow 4500 to 5000 is a
strong possibility and I hope it does as I am positioned very well for it but dow 2500 sounds like oil at 200.Just alittle feedback(too long of course)but keep up the great work I love what your doing! On a lighter note One trader
I know asked what are they going to call the new company if GS merges with C " Sachs in the City"

Erik28 said...

Waxie,

If you had to go into suspended animation for 6 months, and only have 1 stock to pick short. Which is your favorite?

GOOG, GS, GME, TM, AMED, FSLR

?

Thanks in advance