I thought I would start off with a great clip from Saturday Night Live. I have found some great videos the last few days. I hope everyone is enjoying them. I thought this one was a classic:
California Taxpayer Revolt
This one was an eye opener for me. They expected a crowd of about 300 to show up for a taxpayer revolt that was organized by the John and Ken show. A crowd of 15,000 showed up!
Traders Note: If you are free tonight
You might want to hop onto this Webinar tonight that's being hosted by Brian Shannon from Alpha Trends at 8PM tonight. The chart below is going to be the key talking point. I posted a similar one this week and its been haunting me ever since because it looks like there is no real resistance on the DOW until 1000.
I am interested to hear his take because my take frankly scares the hell out of me if we don't hold here pretty soon:
3 comments:
Geez
The ES is red again after being up earlier.
WIll this be the first bear market that never has a bounce?
Its as if the market has just died. I have never seen anything like this.
Martin Weiss is out with a warning tonight saying this is your last chance to save ourselves:
"Martin here with an urgent Sunday update before all hell breaks loose tomorrow.
Washington is in disarray, its grandiose plans scrambled by events, its new legislation virtually dead on arrival.
The economy is falling off the steepest cliff of the past century, gutting asset values, toppling the dominoes we’ve been warning you about for so many months — and rendering all government attempts at rescue sorrowfully impotent.
The stock market is in a free fall, no bottom in sight, with no force on Earth that could stop it from nose-diving to our medium-term target of 5000 on the Dow.
And yet, despite all this, it seems you missed our emergency briefing in which we carefully explain how to stop the bloodletting immediately — and start profiting immediately — in precisely THIS situation.
I think that’s unfortunate — especially with everything that’s happened just in the last few days. But you still have a few hours before the 1-hour video recording goes offline at midnight tonight. Just turn up your computer speakers and click here.
Plus,
If You’re Thinking It’s “Too Late”
To Do Anything About Your
Portfolio Now, Think Again.
Yes, just as we warned, the Dow has fallen dramatically. Yes, it has plunged through the lows of last November and of 2003. And yes, the S&P, the Nasdaq and virtually every market on the planet has marched to the same woebegone drumbeat.
But these lower prices, in themselves, do not spell the end of the decline. They merely confirm an acceleration in the tempo.
The verdict is in: Technicals show no support at these levels. Past economic cycles show no reason to believe this plunge in stocks will slow anytime soon. Studies of the economy’s downward momentum show that things are likely to get much worse. Fundamental analysis of massive earnings declines and rising losses at U.S. corporations ALSO points to much lower lows ahead."
http://www.moneyandmarkets.com/your-last-chance-before-all-hell-breaks-loose-2-30041
Hi Jeff!
In the meantime..
Mr. Lewis,chairman, chief executive officer and president of Bank of America would like to provide some clarity on a few key claims that have been repeated so often..:
http://online.wsj.com/article/SB123655575807665985.html
I really love this one:"..the toughest, most unforgiving master of all: the free market".
Ha, just like
"..failed Royal Bank of Scotland boss Sir Fred Goodwin (who) doubled his multi-million pension pot in an “extraordinary” eleventh hour deal with senior bank directors..."
http://www.belfasttelegraph.co.uk/business/business-news/fred-goodwinrsquos-rbs-pension-lsquodoubledrsquo-at-last-minute-14212061.html
Please, toughest, most unforgiving master of all, pay me a visit too!
regards,
Mat
Mat
Great links.
I am really starting to despise Ken Lewis. In fact, he may be my most hated banker right now.
I hope they do nationalize BofA and throw him out on his ass.
Great catch!
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