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The Bears Are Back…

By Red, on April 30th, 2010

big-bear-hug-for-you

Great day to be a bear, as the market sold off today, erasing yesterday’s gains.  Most of the fear was based on the news released that Goldman Sachs could face criminal charges too.  Originally, they were just civil charges… which is no big deal to Goldman, because they have plenty of money to pay any fines.

But criminal is another story, as somebody could go to jail.  That’s what I’d love to see, but I think it’s more smoke and mirrors then actual arrests.

I’ll do a weekend post that will be more in depth, with what I’m seeing for next week.  I do think we will bounce up on Monday, at least in the morning.  That’s assuming no more negative news is released over the weekend.  That’s the wildcard that no one can see.

Anyway, have a great weekend…

Red

Weekend Update...

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Uncategorized   bear, criminal, Goldman, jail  
  • bobarsenault

    how the hell do they get away with Red?
    http://investmentwatchblog.com/just-tell-me-if-…

    great posting…keep up the good work.

    • http://www.reddragonleo.com Red Dragon Leo

      That's funny as hell Bob… Yeah, we are know they lie through their teeth, every time they open their mouth. But, most American's are too busy watching Jerry Springer, or some stupid reality show.

      If they only knew that the reality shows they watch are fiction, and the real reality is “that kind of news”, then maybe they'd wake up and complain some.

      But, they are happy living in their little fantasy world for now. Of course when they lose their job they'll change their tune…

      • bobarsenault

        one last thought and I'll stop pestering you. here is another tid bit that is so very true!!!! I know, because many folks in my neighborhood are doing it…one guy for 18 months. and he says, 'why not join the crowd???' have a great night sir. we love your posts on the TZA/TNA board on FB. you are a hoot!

        http://investmentwatchblog.com/warning-19000000…

        • bobarsenault

          damn, I forgot to mention…no wonder the consumers are picking up steam…they're spending their mortgage money…robbing peter to pay paul…sure, it looks good on paper…the poop will hit the fan, and my short will pay off in the end…just hope it's not when the RUT hits 850.

        • http://www.reddragonleo.com Red Dragon Leo

          So that's where all the GDP improvement came from… people not paid their mortgage, and spending it locally. LOL.

          Thanks for stopping by again Bob, and I always enjoy reading the truth. Keep us all informed, by posting other useful links.

  • Earl of

    The Weekly view from Americanbulls

    TNA had a weekly HOLD signal last week, fell this week, and now has a highly reliable SELL-IF signal. AmericanBulls has this trade starting at $44.23 on March 3rd. Last week TNA closed at 70.78, up 60%. This week TNA fell to 63.45, still up 43%.

    TZA had a weekly WAIT signal last week, rose this week, and now has a highly reliable BUY-IF signal. AmericanBulls last placed a SELL on TZA at $9.83 on February 19th. Last week TZA closed at $5.41, down 44.9%. This week TZA rose to 5.92, still down 39%.

    Of the stocks & ETFs I follow, only GLD, SLV & USO are solid to hold on to.

    The list to avoid:
    UCO(2x Oil), ERX(3x energy), AMZN, GOOG, GS, DIA, SPY, EWG(Germany), EWQ(France), EWU(England), EWX(emerging mkts)

    These are in transition – used to be ok to hold them, now they are possible sells in the coming week:
    IWM (1x $RUT), UWM (2x $RUT), TNA (3x $RUT), IYR(1x RE), URE(2x RE), AAPL, DRI, QQQQ

    The weekly view is very Bearish.

  • bear/bull
  • http://oahutrading.blogspot.com/ steveo77

    POLL below
    Obama Bashing is Not Necessary

    And that is not my point. My point is:

    1) Our leaders are either clueless, or

    2) Our leaders have found some way to rationalize to themselves that telling lies to their constituents is what is necessary to “protect them”, or…..

    3) Our leaders are pathological leeches that will throw us to the wolves–and pick at our bones themselves– to better their position in life or increase their power and sense of self-worth.

    4) Hand picked by the ruling elite.

    What say you….how can you not respond to those 4 choices?

    • http://www.reddragonleo.com Red Dragon Leo

      All of the Above, is the correct answer!

    • http://pitch3.zstock7.com/ zstock, Pro Select!

      T Jefferson, and J. Madison tried to warn the populace about a plutocracy, we'll I believe we have Plutonomics.

  • bear/bull

    wow check the volume!

    http://stockcharts.com/h-sc/ui?s=DRV

    Gap down coming tomorrow IMO

    • http://www.reddragonleo.com Red Dragon Leo

      It's looking more and more like a gap down on Monday. Don't know yet of course, but if it opens flat and rallies a little, it won't last.

  • bear/bull

    wow check the volume!

    http://stockcharts.com/h-sc/ui?s=DRV

    Gap down coming tomorrow IMO

  • Earl of

    Carl’s morning call:

    June S&P E-mini Futures: Today's range estimate is 1181 – 1195. I am still expecting the market to make a higher low above last week's 1177 low. Even if I am wrong about this the worst I see on the downside is 1162. In any event a swing to 1270 will begin soon.

    1182.75–1205.50 actual yesterday (22.75 points)
    1183.75-1189.75 range last night (6 points)
    1181-1195 estimate for today (14 points)

    1188 currently, so estimate is -7 to +7 from here (neutral)

  • Earl of

    Carl just went Long one unit at 1197.50

    Rather late in the day

    • http://www.reddragonleo.com Red Dragon Leo

      By the way, we are now on a new post. I wondered where everyone was? I guess everyone is a little lost on the new site. I open to suggestion on things to make it better.

      Thanks… and did you watch the video I did explaining the new site? Just click on the “Video Tour of Site” link in the header.

      • Earl of

        Seemed like a really quiet day :)

        I didn't see a NEW POST message, and the forward & backward words to click-on show up as a very light grey that can't see seen unless I stare right at it (Chrome user, I am) . It does show up as red if I mouse over it.

        No harm. I got it now.

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