I'm way too Excited Today.
Danger, I'm just super manic....
Ask yourself.....
Are there any more dollar Bears?
Where will a new Supply of Their money come from to Short Dollars? I mean It's Obvious that we are going into Hyper inflation, and going to bail out every financial institution in the country with newly printed dollars.... Now that it's obvious, where will the NEW money come from?
Ask Yourself....
Where is the next Armageddon Gold Bug going to come from.... Seriously he is out in his bunker, Tinfoil hat, M-16, sitting on that pile of gold Already.... He already Purchased his... Where will the new supply of buyers come from? Umn Funny that the last spike in Gold Came during Bear Stearns.
Ask Yourself....
Where is that Last Oil Bull....Seeing some weakness in Oil, and buying that dip... That Last Jeff Macky.
Ask yourself.... After some slightly Positive Futures, and some short covering. Then as the market looks to Rally, The day trading bears come in and Crush the Rally Sell Financial as he Speaks roughly the same time the EIA Report will come out.... Strangely, after the report being Bearish 2 times, this time it will stick.... and Oil will Actually Break. The DUG will Take off, like a Rocket. The Banks Will Rocket. "Biggest Oil Drop in 17 years" happened yesterday. It's "close to the Trend"... I saw some overnight Weakness..... It seems like it's ready.
BUT WHAT COULD HAPPEN, IS A NICE DOUBLE BOTTOM. AND IF OIL BREAKS, ALL BETS ARE OFF.
The regional Banks.... Well they report on Monday.... I suspect, many of them... and if oil does not break tomorrow then... Well I expect a nice Double Bottom on the Weekly charts...
further more I also think after a nice rally, we could come back and either make a new low, or make another "double bottom" in October.
If oil doesn't break, regionals will make a nice 2 day swing trade. Buy them tomorrow, Sell Thursday morning, and then let them correct.
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
Wednesday, July 16, 2008
"There is a Sale At Pennies"
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