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Financial news I consider important, with my opinion, which is worth as much as you paid for it.
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Tuesday, December 9, 2008

Bullish Sentiment Confirmed

On Friday, the news spun the world was going to end, worst unemployment ever, oil will hit 25 bucks a barrel, etc.
Weekend passes, now the spin is the world is doing better, plans for governments to spend into prosperity is bringing optimism back to the markets, etc. The market action, combined with the mainstream media spin changing, to me confirms we are in a bull market once again, DOW 10K here we come.

Want to do well in the stock market? Piece of advice, NEVER listen to the mainstream news, especially CNBC. Blogs & verifiable news is a better bet.

The US dollar has broken down (devalued) to under the 30 DMA.
So far, GDX is moving according to plan, stocks and gold moving higher, so will GDX. (Miners and gold). GDX was at 19-20, now at 25.xx, I'll sell 20% between 27-32, nice 50% gain.

If the market rallies hard tomorrow, I may sell a little in expectation of a pullback, and re-purchase. However 90% of my main account will remain in GDX, DXO, FAS, UWM, RJA, and other positions to ensure I capture the market rise. But I wouldn't be surprised if Tuesday was a down day.

Plenty of news again, I just don't have the patience to print it, since, it doesn't matter. The market has decided to take a vacation from reality, and start building the fantasy that Obama can turn this ship around. It is possible he can, but it would take years, not months, and therefore after the market goes above DOW 10K, I'll be changing strategies again.

If the fed buys MBS directly to force restructuring of debt, I will print "Financial Ground Zero 3", as it will be the final in the trilogy to seal the next Great Depression upon us.

I found this video pretty funny, making fun of how Obama has been handling the situation.

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