Jack Broz
09-20-2008, 01:14 PM
First of all, trade with the knowledge that we're trading in a very unique and virtually unprecedented enviornment. I remain bullish on Dow and bearish on bonds/notes. Trade will probably remain very thin and difficult. For now, I'm looking to buy weakness in the Dow. I realize that trade below 11263 will go after 090 - but I'll still put some buys at 196 and 166...if I have to puke those, I'll look again at 090. I set my pivot at 11315, but acknowledge that us bulls need trade above 675. In the 10YR, pivot off 115.145; trade went out sharply below that...which I like.... Make sure you're long tho above 116.035
Those are a few of my thoughts. If you want more of my ideas, as well as the word from the floor as trade develops, contact me. I will set you up with access to my trading room and nightly newsletter. Check out my website www.themarlinletter.com for insights into what I do.
The world isn't coming to an end. The fed et al always turns the other cheek and lets the street find ways to make huge profits and scam the uneducated. First they got everyone hooked on day trading stocks: "Manage your own account yada yada yada" . When the bubble burst in the late 90's early 2000, they switched to FOREX....when that didn't separate enough folks from their money, they came up with those ridiculous mortgages. Now granted, the folks who bit on all this stuff were at best naive, and at worst stupid...but then the Fed let the investment firms use those crap mortgages to build portfolios. Just like Greenspan should have raised margin requirements in the 90s to keep the greedy public from losing all their money day trading - the Fed should have stopped the mortgage scammers in their tracks. But they didn't and it got SO bad we have no choice to bail out AIG etc. Otherwise we're in a depression. Is it right that we bail them out? Yes. The wrong was done years ago.
And it won't be fixed. Most pols in Washington only care about getting their own money...there will always be a scam invented to separate you from your money. They'll play on your greed... so the onus is on you. Get educated, and remember what your mom told you: If it sounds too good to be true, it probably is.
Those are a few of my thoughts. If you want more of my ideas, as well as the word from the floor as trade develops, contact me. I will set you up with access to my trading room and nightly newsletter. Check out my website www.themarlinletter.com for insights into what I do.
The world isn't coming to an end. The fed et al always turns the other cheek and lets the street find ways to make huge profits and scam the uneducated. First they got everyone hooked on day trading stocks: "Manage your own account yada yada yada" . When the bubble burst in the late 90's early 2000, they switched to FOREX....when that didn't separate enough folks from their money, they came up with those ridiculous mortgages. Now granted, the folks who bit on all this stuff were at best naive, and at worst stupid...but then the Fed let the investment firms use those crap mortgages to build portfolios. Just like Greenspan should have raised margin requirements in the 90s to keep the greedy public from losing all their money day trading - the Fed should have stopped the mortgage scammers in their tracks. But they didn't and it got SO bad we have no choice to bail out AIG etc. Otherwise we're in a depression. Is it right that we bail them out? Yes. The wrong was done years ago.
And it won't be fixed. Most pols in Washington only care about getting their own money...there will always be a scam invented to separate you from your money. They'll play on your greed... so the onus is on you. Get educated, and remember what your mom told you: If it sounds too good to be true, it probably is.