Today during the hearings for this RIDICULOUS nonsense bailout of dead companies we hda the first signs of discention when there were protestors heard. Perhaps they will do what they should and let them fail, the same way they should have let the banks fail. I will make this prediction right here and right now - at least 50% of ALL banks will be NATIONALIZED within the next 12 to 18 months. In fact, probably all of them will be. I've said similar things in the past, but I want to be succinct. Nearly every bank is DONE. The crazy thing is that that sector is WORTHLESS. Let me tell you something, this is what I call a CRACK market. Look at the energy sector, the prize sector to a TON of fund managers who keep trying to bottom pick it. Oil may fall to $20, people have no idea, they think "oh, that's great!" Yeah, it is, consumers will benefit from that for sure, but we are in a DEPRESSION, not a recession! I am so tired of hearing about recessions, let's call this what it is. For months everyone asked "so, are we in a recession?" Then they get a stupid report that says "yeah, the recession started in December 2007!" Duh, wow, that's amazing, who knew? OK, fine, but now the notion is that we at some point will come out of the recession and you want to be positioned for when that happens. Folks, I hate to be the grim reaper of REALITY, but we aren't coming out of this, we are in a DEPRESSION that will last for several years. The notion that we are anywhere near a place where anyone should be buying a single share of stock. I guess you can buy SKF, DUG, etc. which are Ultra SHORT ETFs, I would approve of that! Today was a nice day, we traded long side early after the gap down and the gap worked well, then we bought FAZ (3 x's short the financials) and shorted MA and rocked on the short side. This is a total TRADERS market, and that's all. Investors are going to be very upset when they realize that they should have sold, that there is NO SHOT we are EVER going back to highs. Yes, I said it - we will NEVER see DOW 14,000 again. We will never see Nasdaq 5000 again. If you think we will, you're on crack with the market. It's not happening. DOW has a better shot of seeing 500 then it does of seeing 14,000. Nasdaq will see below 500, so that's a given, and it has a better shot of that then seeing 2500 again. Even that is unlikely EVER. And, before you say "but last night you said we had seen the bottom for 2008, and I do believe that that is likely, but like I've said that there's no way I would buy stocks long for more than a trade short term. You couldn't pay me enough to do that. The market is and remains and will remain VASTLY overpriced until its under 5000 and even then we'll have to see. And, its NEVER COMING BACK, so don't think it is. As always, I hope I'm wrong, I would love us to rally hard, get to 12,000! That'd be so awesome! It's not going to happen, but it would be great to get emails saying how horrible I am, hardy har har! Since we trade we really love the market to move both up and down, and the higher we go, the lower we can go and vice versa, and that's why you are a SUCKER if you invest. S - U - C - K - E - R. The best from today's hearing was when they asked the CEO's of the "Big (SMALL) 3 automakers" how they got their and how they plan on getting back, and they all explained how they drove and how they had to wake up early to drive back and drive til midnight! Wow, that's SO HORRIBLE! My gawd! I feel SO bad for them! Poor poor bastards! Wow, they really sacrificed for the good of the country! Wow, I am so touched by this, you have NO idea! ANd, I'm serious guys and gals, I really am, I'm not being sarcastic, I am so moved by their gestures and their empathy with the "common" folks like us! Even better? The ads they AGAIN spend MILLIONS on in the papers to promote their BS quest for our money. "If you can bail out Wall Street, you should bail out Main Street!" Really? Oh, yeah, right, I get it, because they stole our money once they should steal it again! Thing is, the only thing about the banking system is that that really does impact everyone. The automakers? Please, you can sugarcoat it all you want, it does NOT impact MOST people in this country and it certainly isn't TOO BIG TO FAIL! All they say is the same BS "this would be a catastrophe!" Yeah, sure it would. I don't get how people are so dumb. So, the reason why they "can't" allow them to go bankrupt is that people won't buy cars from a bankrupt company, it'll ruin confidence in the financing!. Really? HOw come Chrysler went bankrupt and came out of it OK back in the '70s? Even better, RIGHT NOW who has confidence in GM or F? RIGHT NOW who is buying their cars? RIGHT NOW this is total nonsense. They 100% can and should be allowed to go bankrupt. That is the only real solution that won't lead to chaos. And, they have these absurd ideas that "oh, we'll take $1 salaries!" Great, you know what, I'll run my business for FREE! Just let me make $100 MIL for a year and I'll take $1 salary! What a joke, they really think the American people are idiots. They must. It's pure insanity. Yes, they are sacrificing so much! And, oh, the unions, wow, what a sacrifice they are making! Too big to fail? Yeah, ok, how much weight do I need to gain to be "too big to fail"? If I gain like 50 pounds, am I too big to fail then? Can I apply for $37 BILLION with a B? Hell, I'll take $370,000 to gain 50 pounds! For $37 MIL I'll gain 150 and for $37 BIL I will become the fattest man on earth! I WILL BE TOO BIG TO FAIL!!!
I hope we rally to 10,000. Please please please. FREE MONEY short, it'll be raining money on us. I am like the government these days - I AM PRINTING MONEY! I feel like every day I am getting repaid for having to watch booyahhead and all these other knuckleheads talk about how this or that will happen and the market will go up! As you know by now, the fact that the market can't go up on it's own is the #1 issue and the #1 reason that its TOAST long term. You can only be on a respirator for so long, at some point they have to take you off and when they do chances are, the market is DEAD. So says the GRIM REAPER they call - WAXIE! RULE baby, rule! We're starting several initiatives; Worldseriesoftrading.com, The Short Trader, and we have the January Effects which you all know about. We sold 1/2 our CY today for a HUGE gainer! Nice and sweet, babies, nice and sweet! Let's see what shakes from here! It's time to RULE THE FREAKIN' MARKETS WITH US!