Monday, November 17, 2008
THE SIMPLE REASON WHY WE CAN'T FIND A TRUE BOTTOM FOR A LONG LONG TIME...
VERY brief reason, I have to go catch my daughter at Karate, sorry! Nice day for us, by the way! ROCKING! CNBC just said that COF, STI, RF all got money under the TARP, all got BILLIONS, which is absurd in and of itself. Why haven't we and why won't we reach a REAL bottom for a long time? Because every stock the government has "helped" gets cracked. I mentioned AXP being the latest, yet DUMB investors and traders just bid up COF as though this was GOOD NEWS! I mean, how many times do you have to get beat the crap out of before you say "I GIVE UP!". Look at today, they tried to bounce us and squeeze us (very tough day) and in the end they were cracked - AGAIN! Who is buying this market here other than suicidal maniacs? I think we bounce this week at some point more than likely, so I am not trading heavy here (though I am HEAVY in GS puts as I think it sees $50 or less SOON!) but I mean, you have to be insane to buy stocks here for an investment. INSANE. OK, I have to go, go short COF and ring the register! Kidding...kinda sorta! WHEEEE! RULE! TARP funds = FREE MONEY SHORTS! Thank you HANK! Waxie
Subscribe to:
Post Comments (Atom)
5 comments:
About the DOW going to 5000, I was looking at the rolling ticker tape today, and noticing top companies nearing single digits ,DOW at 8200, if the DOW were to get to 5000, then these top companies would be at $5-$11 a share, they will get so cheap even a mailman can buy a 1000 shares of Microsoft on a whim. Therefore I do not see how the DOW can get to 5000 level, because hedge funds , and/or fund mgt money would move in. There is a ton of money off the table now, the fund mgrs can easily access $700mil any day they want to buy.
Dude, I am so sure DOW will be south of 5000 that its scary. What is a top company? Just remember that at one time stocks like - EMC, INTC, MSFT, CMGI, YHOO, EBAY, C, MS, MER, BAC, LEH, BSC, etc, etc,etc were "TOP" stocks. DOW 5000 is a layup. We'll more likely see 2500. As far as all these fund managers with all this money, its total BS. It's the same BS they kept feeding naive investors from 2000 to 2003 when the average fund was down over 60%. If you think we can't go to 5000 I suggest strongly you start buying TODAY to avoid the big rush to buy since we must be at a bottom. :)
So when will be the best time to short or put option such like COF, STI, RF?
hey waxie:
3% mortgages administered by the government... whooo scary!
there's this hyperactive lowest common denominator quality at work at all these different levels: citizen, corporate, institutions and government, and in all the various markets and somehow, it needs a serious timeout. Some great father figure needs to kick all these fools to the curb and let them figure out how to make a living on something other than hot air driven scamming. This 700 billion tarp program is a joke. They spent the first half in the blink of an eye, and the second half will try to be spent half a dozen times before it's over.
There's a picture of Paulson on the nytimes, noon 11/18. He's in his coping mode. Bernanke is sitting beside him. Over the last year or so, Ben's expression has gone from naked panic to a kind of bleak and desperate resignation.
Agreed, I do not know how much capital, fund mgrs still have access to. Maybe its in Treasury notes, but the money has to be somewhere, as the last person to sell has the cash from the buyer. I would think also FED has increased the money supply. Maybe new leader sectors will rise in the next year or two, energy and infrstructure, and healthcare sectors.
Post a Comment