My gawd, I've seen enough, and it's enough to make me puke all over myself, all kinds of chunks of colorful stuff. Like a rainbow, only disgusting!
They will Nationalize the banking system as I've discussed here and all over the place many times now. Unfortunately it'll be after throwing 10 TRILLION into the gutter. As usual our powers that be are way behind the curve and figure things out well after anyone with 1/2 a brain has figured it out.
Berkshire Hathway hit our 1st target of 2500 today. Once it loses that level it should see 2000 pretty fast. Any bounce on this stock is a short, period. When it goes bankrupt you'll know the only person in the world who made that call. You still have 2500 points to make on it, so go to it! Yeah, yeah, I know, I know, I'm a looney, I keep getting the same dumb enough from one of my non-fans saying "12,000 before 5000!"
Ah-huh, sure thing toots! As always, it doesn't matter anyway, just keep trading. I sold all my GOLD futures today around 980. I think it'll pull in here, but even if it doesn't who cares, I basically rode it from 870 to 980, that's a nice enough move for my tastes.
So, the question now is, when do we get a meaningful bounce. I can't honestly tell ya, but I think a real one won't come til we get crushed below 7000 at least. Then perhaps we can get a bounce, depending on the news of the day. The REAL bounce will come when the government actually does Nationalize the banks. I think that will help the markets in a big way, even though that bounce won't last either more than likely. Perception is everything and the perception will be, when that happens, that the bad sector is now a non-issue, so we can move forward. So, that's where I'd be looking to buy some stocks for a nice long trade. For now I stay short if its anything more than a day, and longs are merely an intraday trade.
Did you see the insurance stocks? Wow, they are CRACKED. I think SPG and VNO, hence SRS long, have a lot more downside. I can see SPG bankrupt as well, they run a lot of malls and they are hurting, plus they have a heavy debt load. Any stock like that in the $30s is tasty to the short side, ya know?
It's time for those of you on the sidelines to move off the sidelines and start trading like champs. I'm already up about $1 MIL on the year and it's not even March! I don't want to get my hubris going cause I can get my teeth kicked in by the market (I'm supersticious, fyi), but this market really is raining money and it's time for YOU to cash in! So, get off the sidelines and start racking up! EVERYTHING we do is working in this market. Obviously there's never any guarantees, but facts are facts and many of our clients are KICKING MARKET BOOTY! SO, wake up and smell the WAXIE! Sign up NOW!
Ninja or Options Trader,either will do. We are rocking - ALL!
Stimulus package is a total washout, all these programs will go down in history as the worst ideas we've ever had economically. I'm laying 10 to 1 odds that Obama doesn't get reelected in 4 years. All that promise unfortunately is washed down the tube because of the horrible choices he's made for his economic "team" a bunch of lame-o's, to say the least. A crying shame. It's hard watching our country laid to waste by know-nothing politicians.
I read today that Zimbawe is printing up $100 TRILLION bank notes now, their worth? $30 US!
They have 98% inflation a day.
You know what? Don't laugh, we've being led down a very similar road, my friends. It is very scary indeed.
On that happy note - RULE!
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