As planned, we are running into the Mark to Market news, which was clearly called here.
I think this is as close to a perfect sell the news situation as I can remember. Having said that, there are no sure things in life, or the markets and IF they come up with some crazy scheme then who knows, perhaps the market rallies harder. I just don't see it at the moment, but I certainly can be wrong, my friends!
I would look to unload your longs BEFORE the news. We may pop on it depending on what is said, and if so that is where I'd be looking to short. So, watch the news and see what shakes. Make sure you set stops if so.
A more detailed plan of action will be sent to paying clients!
In the meantime, Booyah says we go much higher, so that makes me all the more confident! Hehe.
Mark to market is necessary, this is another attempt by the government to try to control the markets, it is a DANGEROUS precedent to set and I am very concerned that we are just continuing on a path to destruction of the dollar, the economy and the stock market. It's funny, listen to Booyahhead and he will say that the government is the reason we are still in a Bear market. What a reject, jeez louise, if it wasn't for the HOPE the government shoves in everyone's face, the DOW would be under 5000 RIGHT NOW. I obviously can't prove that, but this market runs into every government control news and then sells off. That's been a VERY strong trend. You want to buck it? Yeah, ok, good luck, the great thing about trends is, when you are wrong once you don't immediately play the trend again, you wait to see if it works again. I've made MILLIONS off government intervention news plays at this point in the last few months, one time (maybe today) I'll be wrong and I'll lose, but I ain't losing millions, I can assure you of that! And, thats why our clients pay us the big Ka-chingos, cause we can have a game plan for everything. YOU need to sign up and try the chat room, our Ninja Service or something lesser. It's time!
In the meantime, that's my story and I'm sticking to it. I got my MRI results back, eh, not too bad, only 1 herniated disk, 2 buldging disks, 2 contusions, all in the back, and 3 buldging disks in my neck, and a pinched neck nerve. No biggie, I'm tough! I'll be out doing physical therapy alot the next few weeks and hopefully good as new after that. What can ya do? It coulda been a lot worse, so I am VERY grateful!
Stay tuned, the fun is about to begin!