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There will be a rally in here somewhere...
Oil looks weak now, tho...
DUG vs. DIG....
Sell! Sell! Sell!
Phil Grande says the PigMen are at the "point of no return" right now.
He says they are going to try to turn the market on Monday or Tuesday by jamming the banks. Saw hints of that on Friday.
If they are successful, the said you must be fully invested in bank stocks and mining stocks. If the rally is successful, then we could have another big leg up.
However, if the rally fizzles after a few days, then the attempt will have failed and he says well will be busting through the 200-day like butter and the market could be headed back down to 6,500.
Told everybody that if the SPY fails at 125, then everybody must be out of stocks comletely. I fully agree with him.
Yes, my take on the stock markets is that this selloff was just the first break. There will be a rally here soon. The quality of that rally will tell a lot. And when it breaks down, look out below.
"Phil Grande says the PigMen are at the "point of no return" right now."
lol, for those who don't know who Phil Grande is, please take the time to listen to the guy. You may get a better understanding of Robo's "message." Phil Grande embodies ZH attitude towards the "PigMen." Cheers.
A lot of people "say" a lot of things. As well, a lot of charts say a lot of things, too.
My favorite chart right now is here: http://stockcharts.com/freecharts/historical/djia19201940.html
If you look closely, the Great Crash came in 1929 and "ended" when the DOW hit 198 [down from 381]. Of course, the Great Depression was everything that came after that, which included a really nice bounce back to DOW 294 ...at which time, a great many people "said" things: http://www.iraq-war.ru/article/120692 BTW...seems to me that old Calvin got the last word. And here as plotted on a graph of the DOW: http://greatdepression2006.blogspot.com/2007/08/famous-quotes-from-past-revisited.html
That great historical chart chart of the DOW does not overlay or compare well with today's Dow chart [from 2007--2011]...but this is because we spent $7 trillion trying to thwart the inevitable.
Anyway, considering that the $7 trillion is now gone, don't you think the enevitable is next?
you can see how impotent Benny is at floating asset classes with the carnage in the US property sector ...once buyers dry up there's nothing the Fed can do
but don't think this is the 'Big Dipper' for the stock markets (yet)... a correction to S&P 1,200, maybe 1,100 and then another slow painful grind-up through the summer
...2012-14 is when the fireworks really kick off with Credit Crunch II ...even bigger than CCI because of the $7 Trillion added to the furnace since
Your official Wall Street weekend news update: The stock market has gotten cheaper since 2009 and we're giving stocks away. This is an opportunity to get rich quick to make up for all your losses and your low self-esteem. Amaze your friends! Impress people at cocktail parties!
So here's the plan: First, get money. We don't care how you do it. Second, give us all the money. Third, get rich quick.
Why are we sharing these secrets with you? Because we already got so rich we want to share the joy and become teachers. Also we were such cut throat thieves, liars and con artists before, now we want to do some good to make up for it.
Phase I: Collect Underpants
Phase II: ?
Phase III: Profit!
A last gasp effort to draw in bag holders, in this, the mother of all sucker rallies.
Shortin' it to the dips buyers
Remember what uncle Warren said: If everyone sells I buy...but don"t do the opposite. Don't argue, just don't
Sounds like Goldman wants to do some work on your Backend.
That kidder, using octal again...here's the conversion to decimal...808/648.
QE3 is the rally back into USTs by letting the equity markets and commodities go. It is already underway. The banks buy. Everyone else follows. Yields drop. The deficit is funded. Was that the deal with the devil that POMO presented to the Primary dealers? Thou shalt not have any down days trading. But one day, I will come to ask a favor. A mix between Mel Brooks and the Godfather.
Maybe the housing market improves. Probably not, even with a 2.5% 10yr yield. Maybe so, you never know. The USD rallies in all of this. No more printing, equities down, commodities down, dollars are destroyed. It gets deflationary. Panic.
Wash, rinse, repeat. If you think this is either the end or the beginning, you are mistaken. It is a repetition of what has recently passed. Take advantage of it. At any rate, buckle up.
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