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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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Monday, September 5, 2011

This week in charts - All hands on deck

Due to various reasons, I am not very well positioned to capture the market plunge that was experienced Friday and likely this week.
I am positioned to avoid the pain that should come to those long the market, as I posted Thursday night to GET OUT OF THE MARKET!
A market plunge below S&P 500 of 1,100 is very ominous, next stop is likely on the express train down to 2009 lows of 666.  For those that read this blog regularly, you will remember on market plunge day back on August 8th, I did not panic...well, now I am. :)

I give you this week in charts, and lets just say it may not be a very Merry Christmas this year.
Good luck, and Obama, prove me wrong and give the country some juice, even if it is BS, and lets kick the can yet again, in hopes tomorrow someone fixes this mess.......which of course, there is no Santa.....

Short call outs!
DXD - 19.61  - double inverse short, should go higher! HIGH risk
FAZ - 60.62    - Triple inverse short banks, should go higher! HIGHEST risk
NFLX - 213 - should go much...much...MUCH lower. (dropped from 235 on Thursday to 213 already)
                     - lost access to many movies, the bandwidth issue will get them eventually, raised prices, and
                     - my guess is many ordinary people bought this stock, so pro's will crush them
PCLN - 528 - good company model, hard to bet against....but I still think lower
DECK - 85.90 - eh, probably lower, really a coin toss, but its an old short I can't let go.
ODP - 2.29 - Shorted on 7/1 @ 4.24, probably going to zero...Office Depot.
DGP - 71.76 - DOUBLE Gold ETF - if you like gold, you'll love this ETF, with 2x daily moves than gold.
                      - Crazy high risk!

In first chart, I reference the long term trading indicator, read more here.
I STRONGLY reading latest news this week at Mish's blog, click here.

From Mish's blog, I can't believe this guy said this publicly. Geesh:
Deutsche Bank CEO says "It's Obvious Many Banks Will Not Survive if Forced to Value Sovereign Debt at Market Prices"

To the charts!

From WebSufinMurfs FinancialBlog2

From WebSufinMurfs FinancialBlog2

From WebSufinMurfs FinancialBlog2

From WebSufinMurfs FinancialBlog2

From WebSufinMurfs FinancialBlog2

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