Monday, March 9, 2009

Possibly A Short Term Bottom? Even A Rally?

The markets have so much negativity that a rally should happen. Will it? Who knows? But lets just look at all of the contra indicators:

1- Warren Buffett on the "Numskull" Network....CNBC...telling everyone that the economy is "falling off the cliff"...Gee Thanks Oracle!...I would not have known otherwise.
BTW- From now on CNBC is officially the "Numskull Network" from now on we will only use this phrase or moniker to describe CNBC. Fast Money the worst show that was ever produced?

2- Everyone in the main stream media is talking about the Stock Markets. When is it going to turn around, why is it going down, etc. All of the main news websites start out with big headlines about the health of the economy and markets. Every TV Channel, including ESPN either lead with the stock markets or have something to say about it.

3-My Wife...who knows next to nothing about the markets (Real Smart Still) just asked me "what the hell is going on"?

4- I went for a Blood Test Saturday Morning, The nurse who was 75 years old asked me when was the market going to turn around? Can I retire? 75 years old!

5- For too much negativity...people have given up on the markets, lost confidence in our elected officials, and have zero trust with regards to government and investing in general.

6-Lloyd's Banking Group has effectively been nationalized in the UK. People don't know this as of yet...but this is huge news, with Barclay's and HSBC not far behind.

7-Obama/Geithner need to start a systematic soft nationalization of our banking system as soon as possible, like the British have started. This plan is definitely in the works.

We should see a nice rally here in the next few days.

I don't cross my fingers because that doesn't work. It never has.

Random Thoughts

Crude Oil is looking to break out. April Futures are quoted at 48.30 up 6%. A close above 50 will trigger stops on the upside. Look for Crude to rally to at least 55-60 on this run. Which means the commodity stocks like the Dry Bulk Shippers, Miners, and anything Energy related will rally violently as they are heavily shorted.

Everyone should book mark the following site:
The Financial Times of London....The best site for In depth Financial News and observations...Basically the Anti CNBC.

Saw Super Bear David Tice of the Prudent Bear Fund really flexing his muscles, he had this Cheshire Cat Grin on his face the entire interview on Bloomberg over the weekend. This guy is truly an intelligent individual, but an extreme bear on the markets...This is also a contra indicator.

Can we please have Rush Limbaugh continue to be the mouth piece for the Republican Party? He was at it again at C-PAC last week. Only the "Ditto Heads" believe the crap he rants about. He is making Obama more stronger and more protected by the masses. Keep at it Rush! Keep up the good work, you are making it easier for America to like Obama more, it that is possible.


  1. Rush is the man...he is harmless...except to the liberals.

  2. Please....He has become the de facto head of the GOP....The best news I have heard of yet. I guess Rush was for all for the Wasteful spending in the 8 years of Bush?