Saturday, August 8, 2009

The 999 retest!

Where's the worldwide depression?

Where is it Mr. Roubini?

Where are the "sub-par" equity returns Mr Gross?

Anyone remember this? Real Depression photos? That we were supposedly going into? That Wall Street was selling, because they were shorting?

Remember USA Today and their poll of 1,011 adults who said that we were in a depression already?

Remember that story?

Now we know that Goldman is bullish, and they have been buying since the Government gave them their buying marching orders, but don't we remember Jan Hatzius saying this back in March?

“The potential for an economic implosion and subsequent world recession is huge and could surpass the biggest financial crash in history of that of the Great Depression.”

Wasn't there another agenda at work?

Now today, Obama is saying that the recession is now over--because Bernanke and him saved the world from the depression!

Now what's happening with the media stocks? CBS is now 11 and NYT is at 8-- both numbers were touted here at 4 at least, when the media was shoveling this sh*t down our mouths!

The next Fashion of the Times will be to be bullish!!!

After all, didn't we hear how the Times was going to close the Globe, and then sell it after they got concessions from the workers?
Now the Times doesn't even want to sell it!

But the real point of this post is this:

How is it possible that this market is now just going to sputter out and die up here?

Isn't my 1040 S&P target now looking a little light? Well give me a break. I gave that before we moved 50%.

But that target is light, especially since we're heading to 1440 on the S&P by June!

Yes, by June. Because we're ending this year over 1100!

And now the biggest mistake that investors make is assuming that the 666 lows, were real prices. They were fantasy, and once-in-a-lifetime prices and the only retest of 666, is what we already had, when it was turned upside down.

Yes, that's right, 999.

999 was the retest.

Why wouldn't it be? Hasn't the world of the shorts already been turned upside down?

Why would it be any different here?

So now look for more bulls coming out of the woodwork! And if you see the job that the bears did on this market, by driving it down, what do you think will be the job that the bulls do on the bears when we jam things up?

So now you can look to 999 as the new floor. And if that's the floor, where then are we going?

How about higher!!

I'm heading out to Vegas, for a little relaxation at the tables--and also because of the Harry Reid clean energy conference--but speaking of Vegas---what happened to those stocks?

And why is MGM still under 9? 22 is where that number is going. And how about LVS? What happened to those complete idiots that sold it at 9.05 a week ago? And WYNN? Didn't that number ramp?

Anyone want to know where those guys shorting the casinos are now hanging out? They're still shorting the drillers while the analysts pimp them down!

Because they think in a world upside down you don't need to drill to get oil!


Anonymous said...

yea thats funny! ROFL-MOFL!
so 999 was the retest and now we are going to "rally" back to 666!

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