In the Sandbox
Below is a client email I sent out this afternoon (Friday). I am on the road on a research trip, but I wanted to close the week out with something . . . after my Line in the Sand of 780 call this week seemed to backfire on me the very day I made the call. My clients were not worried when I had sand kicked in my face just five minutes after making the call. However, I did receive a few nastygrams from folks out there on the Internet. I may have been a day early, but the line of 780 stands. We head lower from here . . . much, much lower. It may take time to move to the 650 level on the S&P, but that is where we are going.
Client Email 4:15PM
As promised, I was out of the office all day on a research trip. I will update you on Monday. David kept me posted throughout the trading day. I was expecting something crazy, but today's activity was tame and lame. For us, it was very profitable and I think it sets us up perfectly for next week . . . barring any new nonsense out of Obama Land. He might just fire Tim the Tax Cheat and hire back King Henry. Wall Street would love that. Or he might decide to start his own Reality TV show . . . ObamaRamaLama. It would be on 10 hours a day and show us how he travels on Air Force One at 0,000 an hour . . . to Chicago for a pep rally and Denver for a pep rally and Los Angeles to do comedy and off to Florida just for giggles . . . and we'd see Obama shooting hoops with his new All Star pro friends, and we'd see Obama demonstrating how to put that street-wise bounce in your walk, and we'd see Obama showing us how to properly wear a baseball cap backwards like the boys on the streets. Do you remember that? When he came out of the gym with a bouncy prance like a high school punk strutting his stuff, and a baseball cap turned backwards. I doubt that will ever happen again. The European press had a field day with it.
ObamaRamaLama would also feature Michelle Obama and her organic veggie garden. The First Lady would have guests like Martha Stewart showing us how to chop organic lettuce, along with Jim Cramer smashing organic garlic into mush that resembles his buddy Jon Stewart. The First Lady will come out with a Rose Garden cook book and Oprah will run it as a featured book and give one to the entire audience, as a surprise under their seats. Strike that. We can't call it the Rose Garden, and I guess we can't yet call it the Obama Depression cook book, so maybe we'll run a contest to name it.
Needless to say, I am tired of the Change he is bringing. I stand by my statements over the last year that no President has ever been so owned by Wall Street as this boy. It's BOY, not man. He's not demonstrating Presidential qualities and he's not behaving like a President. He's playing to the TV, media hounds and the men on Wall Street that paid for his four year lease of the Office of President. These men are still clearly in control of the puppet strings, and this boy is only too giddy to oblige. And I am tired of the fact that he has no clue what he is doing, and he truly thinks he can talk his way out of this. Stop the traveling! Stay in the office and work. STOP Doubling Down on Stupid.
Okay, I need to get back on the road. I still have a lot more to see this afternoon.
I don't really expect anything over the weekend, except more confusion from Congressmen, Senators, Cabinet members and the goofballs in charge of FDIC, SEC, Fannie, Freddie and maybe even the postal service. Truly, we have a country that is being run by a bunch of self-serving public servants running around with scissors poking each other in the eyes, hands, bellies, backs, necks and ramming the scissors up, in and through bodily orifices.
For those of you that doubted my line in the sand. And for those 2 or 3 that actually ribbed me a bit . . . I will be playing in the sand over the weekend. NOT. I'll be helping with the introduction of the Enable Ministry this weekend!!!!!!
Enjoy the weekend. Our Monday conference call starts at 8:50AM Eastern and I will put a new tune on at 8:40. I'll try something new to get the sound better.
Mike
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