Dec 1 Post

Dow down 679…..7th worst day in history!!! I nailed that one and yes, I am patting myself on the back. We broke 820 on the S&P 500 and we went straight down. I thought I was going to get this day last Wednesday but the new government program and low volume on Wed and Friday pushed that plan to today. To give you an idea of low volume….on Black Friday it was .4 billion shares vs. 2.4 billion shares the Friday before that. Hedge funds love low volume because they can move the market.

This sell off isn’t over. This week is going to be painful for the longs. We haven’t even started getting the terrible November data. Tomorrow we will get the auto and truck sales numbers. Plus the bankrupt 3 are going to provide our government with a plan tomorrow. This will be entertaining in a sad way. They will get our money and they will not pay us back. The government will tell them to make greener cars that run on unicorn kisses and butterfly dreams and they will say ok. At the end of the day, GM, Ford and Chrysler will not make greener cars. They will put energy efficient light bulbs in all their factories and call themselves green companies. This is a joke!! The market will sell/short everything connected with these businesses….I will be with them. I predict GM down 50% days after they get our money. Anyone want to bet me on that one? Stay short!!