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Wednesday, January 6, 2010

The double dip bet sucks!


Back in May, I said there was ZERO chance of this market retesting its lows. No double dip. How did that bet work out?

But maybe you want the odds on the double dip. According to NBER, there has been 33 recessions since 1854. On three occasions did you have a double dip, and two of those were in the early 1900s. The last was in the 1980s.

Less than a 9% chance? And yet these bears get hysterical about the double dip? Give me a break!

Now if you want to pass that statistic around, you can do it with this research. Lord knows, you don't want to say it you got it from here! But while you are at it, check out the growth numbers for China.

Trading Focus Jan 6, 10 SA(2)                                                                                                                                                

But speaking of China--how about those steel tariffs?

And when will Wall Street ever give us a realistic price estimate?

Today, Goldman Sachs upped its target of 67 on X.

67?

Face reality. Check out the weekly chart on US Steel.


The stock is going to 93!

Because that is reality.

Today on CNBC, you had some pimp telling you to sell X, and instead, buy the Brazilian steel companies.


For what?

Do these shills do this to pretend they are so smart?

This stock is out to rip the shorts a new----and you want to get off the train now?

Give me a break!

93!

2 comments :

Anonymous said...

timing for the 93?

Palmoni said...

Well we have 65 already!!!!!!!