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Obama was in Fannie’s Back Pocket

Posted on September 30, 2008
Filed Under Market Commentary | 1 Comment

B. Hussein Obama was in the back pocket Fannie Mae and Freddie Mac.  Taking bribes to keep quiet and let FNM and FRE continue with their fraud.  Obama was #2 on the Fannie/Freddie “friends” list.  Thank you B. Hussein Obama for causing this mess.

Stock Market Crash of 2008

Posted on September 29, 2008
Filed Under Market Commentary | 1 Comment

Stocks Collapse on the Failure of Washington DC to Come Together on a Bailout; Was This a Silver Lining?

Panic struck Wall Street as many are fearing a complete meltdown of the nation’s banking system.  The media has done a fabulous job, aided by President Bush’s plea to the American people to strike fear across this nation.  However, many on Main Street feel a bailout only benefits Wall Street rather than Main Street.  They can not be more right, rather than help many to stay in homes they would rather stick a bandaid on the issue.  To fix this mess you need to assist the housing market from further decline, KEEP PEOPLE IN THEIR HOMES and still paying.  That is renegotiate princple and interest payments.  You solve defaults, foreclosures and those mortgages become liquid again.  The stock market is simply pricing in a crash of this nations banking system.  It is causing  weak holders to get out of the market, cleansing the system of waste.

If you have been reading and followed along with my action you are in cash and avoiding the meltdown.  Jim Cramer continues to urge people to buy this market.  He has been completely wrong and shows you that picking bottoms is a fool’s game.  We do not have the environment to get long, too much uncertainty, and no charts.  Unfortunately, the mess created by Wall Street will take some time to work itself out.  It could be a year or 4 years at this time no one knows.  I personally believe we are going to see a few years of choppy trading much like what we saw in the Dow 1938 through 1942.  It is no time to be a hero in this market, stay clear of the locamotive headed your way.

We still have our former leaders to crack wide open:  AAPL, GOOG, POT, MOS, MON, AGU, RIMM, BIDU.  This will take time but we will get through this.  We will prevail.  Just let time work, let it work!

Best of Luck

Market Speculator

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The Stock Market Continues to Wait for Washington DC’s Plan

Posted on September 27, 2008
Filed Under Market Commentary | 1 Comment

While the politicians, clueless about real economics (Austrian School of Economics) are trying to devise a plan to assist Wall Street.  Key to note, they are trying to help the very people who screwed up.  Rather than keep people in homes, our wonderful politicians (both Democrats and Republicans) would like to help Wall Street and manipulate our “free” market.  Stocks were able to fight off the mess in DC and were able to finish well off their lows.  Volume was mixed, higher on the NASDAQ but lower on the NYSE.  Regardless, this market is still not ready to furnish a new bull market.  It will be quite awhile before we see a new one.

Too many are looking for either a collapse or a race to a new bull market.  The higher probability scenerio is more of what we have seen this past year.  We could most certainly see more choppy markets, small rallies and small pull backs for the foreseeable future.  This market is lacking superior leadership; stocks with tremendous earnings/sales growth, superior ROE, and excellent price consolidation (chart patterns).  No matter who is elected this November, this market will need to work through the massive deleveraging in the system and the consumer changing from credit to a savings.

Enjoy the rest of your weekend.  Keep your focus on the best setups!

Market Speculator

No Positions 

Ron Paul on Fox Business Last Night

Posted on September 25, 2008
Filed Under Market Commentary | 1 Comment

Liberty: Why Paulson, Bernanke, and Congress are Wrong

Posted on September 25, 2008
Filed Under Market Commentary | 1 Comment

Bailout Looms as Stocks Get Stuck in Neutral

Posted on September 25, 2008
Filed Under Market Commentary | Leave a Comment

Congress continues to ponder a bailout plan to assist Wall Street in buying troubled assets stemming from the housing decline.  The stock market continues to wait on Congress to throw away tax payers money.  There simply isn’t much out there in the market that looks good.  This market looks very weak, stocks in my scan of the market is hitting its lowest level prior to the big decline last week.  New Lows continue to pound new highs and VIX is sitting at the 35 level.  The market certainly isn’t believing in the Congress to get ANYTHING done, including doing NOTHING and letting some firms go out like LEH.

It is time the Austrian School of Economics is taught in this country.  For too long we are taught that government is able to step in and support the economy and interfere with markets.  It is unfortunate that this is simply socialism and it only creates drag on the economy and steals from the productive in the society.

Bring back a truly free capitalistic market, let market forces determine pricing not the GOVERNMENT.

Enjoy

Market Speculator

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Ron Paul on Fox Business

Posted on September 24, 2008
Filed Under Market Commentary | 2 Comments

Ron Paul at Financial Services Committee Meeting Today

Posted on September 24, 2008
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