Mike i really have had to discipline time allotment as i have a project that must get done.(so limiting to "Weird" and "Philly" threads.
Just clear-out some old biz.
i sold my UYG for about 8k area profit and still hold DXO and SWC.
i am now about 95% cash.
This was an e-mail i sent to my broker(edited) that gives some views.But i write the next first
But first and foremost i see SPX as low as 450 by or during 2010.
People simply have yet to grasp how bad the situation is, and it will get worse.
Of special note! Marc Faber , that next to never makes an absolute statement has done so, he says it is now a 100% certainty the U.S.Government WILL go Bankrupt.
We now ONLY survive out the "Kindness of Strangers" and they are getting more and more nervous about our money printing press it is just a matter of time before our GUNS can't force people to support what is now the World's Largest Beggar Nation, the U.S.A.
Now that edited e-mail:) from 12/9
Well, Jeff, Obama and CBs world wide have put their stimulus input to INFINITY:) Obama states the national deficit is of NO CONCERN. i asked him why? He advised me by saying that is simply political speak following rule of 'If we tell you lies and you believe them all will be O.K.. Because if we told the truth, you would all poop your pants and that would lead to a mess we can't fix"
The CBs and FED have decided the only way to beat depressive deflation is with elevating paper to status of rubies and emeralds and blue sapphires.
In others words if you find a treasure chest of Rubies/emeralds/GreenJade and the Hope Diamond but also a printing press with stacks of blank U.S. Currency paper and can choose but one to keep, be smart, be wise, take the printing press and the paper---that is what the world is trying to do, and as they say don't fight The Fiat, it is Heaven's New Manna, and rejoice and be glad:) Yeh, sure.
So does The Bear Rally to say 1050 start here???
Has the train left the station??
Well if so i will just stand aside a wave "bon voyage!"
For if this is Bully Bully XMAS Rally to the end of the year, i will have to go short when over, because this somehow seems TOO SOON, too treacherous.
But my SPX IQ Charts has a buy signal with resistance not until 993.........................................
Because of PayPal mess on Faber site, i did not get his latest newsletter, nor will, as i am not into mailing money orders to Hong Kong to maintain a subscription.
But the title of his last letter was something like "The New Market is High Volatility" This indicates it goes along with another researcher that is predicting at least 7 months of a roller coaster cookie chunking market.
The only way for me to play is after it pukes rather than when people are jumping in head first and think it is a Rocket to Da Moon!!!
If UYG pukes again another day, i will go baxk in.
Of special note, no matter what the BS that is being slung, at 1027 the SPX will have trailing P/E of 20-1, with NEGATIVE growth ahead.
We rallied from at P/E 15.53.
Bear Market of 74/75 81/82 did NOT bottom until a P/E of 6 or 7 to one.
In 1949, SPX hit P/E of 4.5 to one.
Faber estimated 100 trillion dollars has been vaporized globally, that would mean like what they do now is print 100 trillion new dollars of paper that is no more valuable than the 100 trillion dollars that has now has a value of zero?
i don't think we need Einstein here to tell us that what we have here a bunch desperate people trying to rebuild a house of cards by getting a new supply of cards.
So what do we end up with, yup, another house of cards.
Later Max |
