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Load up the shorts: the next leg down has started

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April 13, 2009 – Comments (3)

Time to close up any long positions you have and start thinking about getting short.  The bear market rally is ending.  I thought it might run long enough for goldman to issue its new share offering (tuesday?) but looks like we are headed back down again.

 I added green-thumbed 25 ultra shorts and red-thumbed 25 ultra longs this weekend.

 

Can't wait to see Cramer try to explain how wrong he was.

3 Comments – Post Your Own

#1) On April 13, 2009 at 10:32 AM, RookieQB (29.04) wrote:

It appears someone forgot to tell the financial sector.

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#2) On April 13, 2009 at 10:43 AM, jdgee2 (< 20) wrote:

rwilso01 quote: " The bear market rally is ending."

 

And this news causes one to load up shorts? Hmm...? 

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#3) On April 13, 2009 at 10:44 AM, Bupp (28.59) wrote:

Financials are going to go up because they are being allowed to commit fraud.  They are marking their losses on the loans they have made so as to show record profits. 

In reality, they are insolvent.  Once companies in the real economy report earnings in the next two weeks the financials will crash and burn.

 Plus, the banks still need to take huge writedowns on credit cards and commercial real estate.  Anything the financials do right now is make believe until we see companies declaring bankruptcy or getting nationalized.

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