Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Wednesday, July 2, 2008

300-500

My new thesis is that we have set ourselves up for a 300-500 pt rally.

but you have questions...

  • How can we rally with the notion of huge unemployment.
  • how can we rally with the ECB undercutting us tomorrow.

So.... Umn... Well What if the ECB doesn't cut?

What if the NFP isn't any worse?

Also... What if oil comes down $10.

I think we are set up for a relief rally, we are very oversold...

I will not be surprised to see us Sell off a bit this morning, then turn in the face of it and rally... or we will just take a moon shot right off the bell.

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