jobs report http://www.marketwatch.com/News/Story/Story.aspx?guid={5446C124-6428-4C60-8CB9-30505CCA12AA}
Staying short here. I am heading out for a nice relaxing 4 days in Vegas. I'll talk to you guys soon. Buy stops remain at 960 on the 5 contracts and 1075 on the 20 contracts. --Ishmael
Even the phony gummit #s are fugly. Do not be fooled, we are going much, much lower. We could very well see a sharp rally to ~1080 area. There are still a few months of +-7-9% days. There is no escaping the reality that this entire system is on the verge of collapse. Be sure to position yourself properly after this deflationary cycle unwinds, as, this (assuming the system doesn't collapse) will be the great inflation.
Officially there will be no inflation or mild inflation only as price control will be applied on everything very soon. Just that nothing is available at the "official" prices. Think about volka in old USSR then you will get the picture.
This isn't conspiracy talk, this isn't doomsday talk, this is reality. It's not about being right, it's about positioning yourself. Look at Peter Schiff, who called the subprime collapse to a t, yet, he and his inwestors are down big. Epic failure. Most vets are brainwashed into thinking the system will always be there and anyone who thinks differently is insane. Don't fool yourself, if they would have let Citi go down (which I think they should have) we would have had major bank runs. These Harvard mofos are, in essence, no smarter than anyone who reads this forum, they are just the best actors. The world is a stage, the best actors receive the best pay. Trading requires that you act with no feelings. If you have emotional problems go be a counselor, this isn't for you.
I guess my conjecture that people will spend more during Christmas by selling their only marketable assets (i.e. stocks, bonds) just happened. http://biz.yahoo.com/cnnm/081204/120408_mutual_funds.html