Monday, November 03, 2008

ELECTION CENTRAL!

If I hear one more time how an O'Bama victory is "priced into the market" I'll puke. Plain and simple. We tried to rally today but got rebuffed. GS as I said, weak as all hell, and to me looks headed straight to below $50 in the not too distant future. It's funny, the reasons I hear people who own it now say they do is because they think GS will "figure it out". That's brilliant! The reason to own a $90 stock is because you think they will figure it out! There is NO SHOT IN HELL that GS is on its own anything above $20 a year from now. You can mark it down and send me a hate mail or laugh at me if I'm wrong, but unless they merge with someone or get bought out, mark it, we're at sub-$20 within 12 months from today. In fact, I think it goes there before year end! But, I wouldn't bet on that one, though I guess I have since i own over 100 puts on the dang thing! Yes, another good day for the Waxie Express! Ka-chingo! Chat room is really racking up. We had some very nice plays today, and I expect more of the same tomorrow. I told Tiny today, that knock on wood, this is a sick easy market. I mean, I hate to say that cause it might anger the trading gawds, but jeez louise, I haven't seen anything like this since 1999 and in some ways this is even better because much of the volatility is very predictable. Key is to take those small losses and obviously capture the big gains! Tomorrow is a total crapshoot, I think just fade the moves all day, we should be all over the map, but probably in a fairly tight range, so scalpers day more than likely, or not. I honestly have no clue, how could I? Even Im not that good! hehe! I would watch the solars for trades, they may have another day in them, and then if O'Bama wins and they gap up, short at will is my take on a sell the news situation. We shall see! RULE! Waxie

1 comment:

mark said...

Waxie,

I gotta tell you again that your blogs are the greatest. You call it like it is and I really appreciate that, plus I usually get a good laugh with your humor too! Please keep up the great service you guys provide. Trendfund has made me some serious money over the years and your top ten shorts lists really kicked butt. Please keep the great calls coming. Thanks again!