This video shows exactly why I don't listen to a word that CNBC says.
They are always so wrong it is funny.
Thursday, March 5, 2009
Wednesday, March 4, 2009
rebound?
Today we had a small rebound. However, the main thing to remember is the market is still looking very week and we have not seen the kind of fear and irrational selling that usually marks a tradeable bottom. Yes, the market is oversold. But there is no law that says oversold can't become more oversold.
Short Term: Bullish
Intermediate Term: Bearish
Long Term: Bearish
Short Term: Bullish
Intermediate Term: Bearish
Long Term: Bearish
Tuesday, March 3, 2009
Good Video
This video was made in the fall of 2007. Not a bad prediction right?
Right now the futures are up about 50 points on the Dow. If we don't have a strong intraday rebound today it is VERY bearish for the markets and I expect continued downside to around 650 on the S&P short term until see some real panic.
Have a good day.
Right now the futures are up about 50 points on the Dow. If we don't have a strong intraday rebound today it is VERY bearish for the markets and I expect continued downside to around 650 on the S&P short term until see some real panic.
Have a good day.
Monday, March 2, 2009
close to temporary bottom......
Here is just one of my charts showing that we are close to a temporary bottom.
Remember this is temporary. Which is why my short term trading signal is bullish.
Remember this is temporary. Which is why my short term trading signal is bullish.
Wow, market is moving right where predicted.....
To anyone reading this blog......I hope you listened to me and sold your shares when I clearly told you to. This market is bad. It is only going to get worse. However, on the bright side, I do expect the market to move higher in the short term, up to a week. This should provide an opportunity for you to unload your shares before it is to late. With the move down last week and today we have basically confirmed my suspicions that the S&P will bottom somewhere in the 400s and the Dow somewhere near 4000.
This is going to be/already is the first depression this country has seen since the 1930s. If you don't believe it you are really, really wrong and need to have your head examined. Some people say....."well it is time to buy because stocks are cheap". NO!! Stocks are not cheap. If you value the stock market on a P/E basis the market would have to fall to around 515 on the S&P just for stocks to be as cheap as they were during the 1974 recession. We need to fall to nearly 350 on the S&P to get as cheap as the Great Depression. So, when so and so tells you on CNBC, CNN, or Fox News that it is time to buy stocks, don't listen. They are just flat out wrong.
Here is an update of the carnage:
Short Term: Bullish
Intermediate Term: Bearish
Long Term: Bearish
"Blaming speculators as a response to financial crises goes back at least to the Greeks. It's almost always the wrong response."
-Larry Summers
This is going to be/already is the first depression this country has seen since the 1930s. If you don't believe it you are really, really wrong and need to have your head examined. Some people say....."well it is time to buy because stocks are cheap". NO!! Stocks are not cheap. If you value the stock market on a P/E basis the market would have to fall to around 515 on the S&P just for stocks to be as cheap as they were during the 1974 recession. We need to fall to nearly 350 on the S&P to get as cheap as the Great Depression. So, when so and so tells you on CNBC, CNN, or Fox News that it is time to buy stocks, don't listen. They are just flat out wrong.
Here is an update of the carnage:
Short Term: Bullish
Intermediate Term: Bearish
Long Term: Bearish
"Blaming speculators as a response to financial crises goes back at least to the Greeks. It's almost always the wrong response."
-Larry Summers
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