Saturday, November 22, 2008

The 7449.38 Bottom of 2008 ~ Dow Jones Industrial Average (Dow Jones Indices)


dunt, da, duh, dah, da!

  for the 1st time in BOTD history ... we are calling a BOTTOM!  

 Albeit a temporary one, haha.  

write it down, take a picture, IDGAF.  $7449.38.

This market "needs" your money.   

IT'S OVER, ... the BEARS WON! 

thesis = Crocs 

We got CORX'd on that fateful October day.  It was supposed to be "the International Quarter of love" ..... CORX at $75 dollars plus per share, NOV 80 calls, ... the DOW JONES hitting all-time highs!!!! ..... We renamed Crocs, CORX, because we got screwed.  not to explain the joke or anything, ... you all know how it ended.  Seventy-Five DOLLARS to seventy-nine CENTS.  Who needs a plastic shoe making company (the 2nd world has the market cornered) ... Crocs was a great idea, an innovative concept.  Crocs is NOT a Great American Company.    We've all heard "plastic shoes!", "plastic shoes!" for 14 months.  And that's the point, it's OVER!   The SHORTS won, blah, blah, ... we're done going down, ... for now.    I'll say it again, "the BEARS won."   it's over. 

CITI    from $55 to $3.05 
GM     from  $40 to $1.70 
FORD   $15 to $1.01 
GOLDMAN SACHS   $235 to $47.14 
APPLE   $200 to $79.14 
GOOGLE    $725 to $247.30
MICROSOFT    $35 to $17.50 
 
... don't buy CORX, but GOD damn it!   

Be American.  ... BUY SOMETHING!!!    

p.s.  maybe when CORX goes bankrupt it'll actually be "the bottom".

12 comments:

BUY ON THE DIP said...

The Basket of 3x BOTD:
BGU 26.67 +2.71 (+11.31%)
FAS 16.00 +1.35 (+9.22%)

The Basket of 2x BOTD:
ROM 17.84 +1.534 (+9.41%)
SSO 21.21 +2.20 (+11.57%)
DIG 26.30 +4.88 (+22.78%)

Mattyrye said...

I think it was JD on here a month or two ago saying people are going to wake up with there AMEX Lines zapped. I actually know 4 people this weekend that got either there cards taken away or a limit put on it..Nice call..

big mike said...

Hey does anyone know what happends if e*trade goes bankrupt?

Big Mike said...

as far as the money that you have in your account goes? is it like a bank where your only covered for 100k?

stockhustler said...

Gosh, it would be nice to get a rebound for a few days, huh? That way we can re-short at better prices.

Gameplan:

Im looking ot short SLG on any bounce-it goes to ZERO (trust me). If they let C fail tonight or come up with some wacky plan (and it isnt taken well by the market), SLG will be cut in half in a day or two. Get short in a BIG way at the open if nothing positive happens to C tonight.

"Quick" Trades: ONLY if the market looks like it will bounce:

20,000 shares ESLR @2.30 (look to sell at $3 or maybe 3.50 if we're lucky)

10,000 shares of STLD

short 1000 shares of SKF and EEV

I am still very bearish overall. If we are lucky enough to see a rally, I will get long in size for a very very short term trade. Id rather get in and out fast, even if the rally last a few days and I miss upside. Then, on the first sign of weakness, I will be getting short again. I dont think the selling really stops until the new year begins.

BOTD is the MAN!!!!!!!!!

cl said...

BOTD,

she look more like Freddy Jackson!

stockhustler said...

FYI-

Look at USG. The stock has been getting murdered on the potential of them not being able to make a few payments that are coming up. Yes, Buffet has a 17% stake in the company and has for a while. But the company is bleeding cash and he is losing his ass on this trade. USG had a huge loss last qtr and forecasting more to come. The deal Buffet just announced with them on Friday is very very strange to say the least:

NEW YORK (AP) - Shares of USG Corp. jumped Friday after the maker of gypsum wallboard and other building supplies said it is raising $400 million, much of it from Warren Buffett's Berkshire Hathaway Inc.

Shares gained $1.16, or 20.5 percent, to $6.82 in midday trading. In the past 52 weeks the stock has ranged between $5.50 to $40.25 per share.

Berkshire, which holds a 17 percent stake in USG, agreed to buy $300 million of the Chicago-based company's 10 percent contingent convertible senior notes due 2018. Toronto-based Fairfax Financial Holdings Ltd., which recently acquired a stake in USG, will buy the rest.

Assuming USG shareholders give their approval at a meeting in the first quarter of next year, which has yet to be scheduled, the notes will convert into shares of USG common stock at a conversion price of $11.40 per share.

Word of the additional capital comes just days after analysts publicly expressed concern that the company, which emerged from bankruptcy in June 2006, might not be able to meet its debt payments.

Earlier this month, Buckingham Research analyst Mark Weintraub cut his earnings-per-share estimate, partly on concerns that USG is "likely to incur a significant step up in financing costs and quite possibly dilutive equity issuance as it seeks relief on unsecured revolving credit (earning before interest, taxes, depreciation and amortization) covenants that otherwise look likely to be broached by the end of the fourth quarter or the first quarter of 2009 at the latest


USG is to be shorted on this pop. Buffett threw them a life raft, but it will not save them....trust me. I think he did this to buy the company a little time to try ands sell it self or for him to dump his shares. 300 milion in peanuts compared to what he has invested in them already.

Look at the open intrest on the DEC. $5 put.

Enough said. Im loading up sometime this week. Remeber, the last few deals Buffett did like this teh stock of the comany has been murdered after the initial pop:

GS
GE
and now USG

jd said...

Yes it was me.

Next thing I'm watching is for the inflation train to start rolling again. Already a sign of it on Friday, and this minute with dollar falling/gold rising.

If the inflation train rolls again, stocks should'nt fall as much,, I doubt you'll see them perform that well for years though, consider inflation/commodity plays yet again.

Who wants to hold the currency of a bankrupt country who can't pay back their debts because they have no real economy?

USD = DOOMED , unless the world decides to bail us out again, but WHY?

Anonymous said...

How can we "buy everyting"?

Everyone is BROKE!!!!

Nicodareus said...

Citigroup Gets Government Guarantees on $306 Billion of Assets: http://www.bloomberg.com/apps/news?pid=20601087&sid=apUaIHxgott8&refer=home

SARA said...

GREAT CALL CHRIS

RALLY

jbreedlove said...

Great call on today, predictions for tomorrow?