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Hot!!!

JUDGEMENT DAY

Judgement Day: 8 days

I now put the probability of a severe correction at 70% between those 8 trading days.

I put the probability of a CRASH by the 8th trading day at 50-50. It may not sound like a high number, but it is.

Will GOOG lead us to the promised land???

Today i mentioned something about the market that doesn't feel right. I now do not think that last Thursday's selloff was for just profit taking. It was on humongous volume. Go check out the QQQQ's on that day to know what i mean.

Today, I recommended everyone to get out of margin completely. In fact, i got out most of my long positions. Today's runup of the nasdaq could be due to anticipation of GOOG announcing blowout earnings. What we got was a limp reaction.

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YOU HAPPENED TO JUST PASS BY ANOTHER SCHOOL AND YOU SEE SEVERAL CHEERLEADERS HOLDING FIVE LETTERS. GIVE ME A 'B', SAYS ONE.

GIVE ME An 'A', SAYS THE SECOND.

GIVE ME A 'N', SAYS THE THIRD.

GIVE ME A 'K', SAYS THE FOURTH.

And finally,

GIVE ME An 'S' SAYS THE LAST.

FOR SOME UNKNOWN REASON, AS YOU WALK PASS BY THE SCHOOL YOU CAN'T HELP BUT FEEL NUMB AS YOU CONTINUE YOUR PATH HOME....


(continued tomorrow)

Bear Arse Haulin Day!

We will open very strongly due to several strong earnings reports.

Let's see how it ends and let's see what happens with tonite's reports before we back the arse up.

I like VMW (which closed @ 100) and believe it's primed to run. Earnings is Oct. 24

Good luck.

I am hoping for a huge selloff tomorrow morning

so we can start scooping up some goodies for a day/swingtrade.

I give it 20% probability that we crash next Monday. If not, the next 1-2 days will offer the best buying opportunities for the year as the bull market chugs along.

Stay alert and get ready to pounce. Reduce margin until we get some sign that we're 100% crash-free.

VMW is the next CSCO!!!!!!!!!!!!!

VMW closed @ 103

You know i like this stock alot, both from a trading and an investment perspective. I'd stay away from EMC. I like VMW's business, i therefore buy VMW. None of that EMC backdoor nonsense.

Tobin Smith is saying that VMW can get to $1,000, which is the next GE.

At $500, VMW would be the next CSCO or GOOG.

I'd say $500 is more reasonable than $1,000. No one should trade more than GE.


So in light of VMW support from Tobin, i am now raising my target of VWM from $300 to $500.

Buy buy buy!!!

Red Alert! We will be handing the ball back to the bears

for a few days to a few weeks.

The bears have been pillaged for god knows how long now. They need a reprieve to get back in the game.

Expect continued shorting and profit taking.

Reduce margin and buy stocks when they become bargains.

s