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Here it is:
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23 hours ago
These Stocks Could Skyrocket 100%, Says Jon Najarian
Posted By: Lee Brodie
Topics:Stock Market | Stock Picks
On CNBC’s “Closing Bell” FM contributor Jon Najarian told Dylan Ratigan he sees a catalyst out there that could lift banks [XLF 6.26 -0.63 (-9.14%) ] as much as 100% - and as soon as next week.
The catalyst involves mark-to-market accounting; which has been blamed for forcing banks to record billions of dollars in writedowns.
According to Reuters, a U.S. House Financial Services subcommittee is expected to hold a hearing on mark-to-market accounting rules as soon as March 12. The SEC's chief accountant and the chairman of the Financial Accounting Standards Board, will be asked to testify, the report said.
If that meeting results in the government relaxing mark-to-market rules, Najarian thinks the stock market could explode.
He says, “if the government relaxes mark-to-market for 12 to 18 months you could see financials move 100% in a matter of hours.”
And he goes on to say, “In fact, I hope you’ll replay the soundbite because if the government relaxes mark-to-market accounting a number of banks stocks will be unbelievable values at these levels.”
But that's not all. Najarian thinks the move could not only light a fire under banks, but the entire market. “If that Reuters report above is right there’s a very good chance the entire market will get a big lift.”
Again, the date to watch is March 12th.
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http://www.cnbc.com/id/29510966
I heard that last night. I was thinking short covering rally, too.
DXO. I've been in since 2.62 from awhile back. Last week or so, I bought more around 1.94 and sold it @ 2.34.....
When it hits 2.62, I'll probably sell and wait for it to re-treat. I think crude should be playable on the upside until July 4th.
Crude broke up through 45 today. 50 is next. ;~)
Would love to see XLF on this run, to fill the gap @ 8.12
would be a great place to short (via an inverse etf).
Still think it's going to 3.80.... eventually..... 2010?
FWIW, last night on Kudlow, Doug Kass, the big-time bear, called the bottom being put in between now and tomorrow's close.
He said the bottom would be in for the year, by Wed.
That's a bold statement for someone in his position to make publicly.
I, however, believe him to be wrong. Hopefully, we can rally for the month of March, but I believe we go down to 1085 on the NASDAQ this year.
yep, that's me... :~)
My new targets in case anyone's interested:
http://siliconinvestor.advfn.com/readmsg.aspx?msgid=25459371
:~)
I would only be looking for a trade... buy and hold is dead, imo... gotta look at the markets in terms of days....
not feeling really good about my entry into Contra last Thurs. and Fri. I believe mid-March will provide a nice temp. bottom that should be playable before the 'waterfall' continues to flow.
If I'm lucky, I can get out of Contra at the end of MArch with a little 'gain'. I was looking for 10% or so, now, I'm not so sure.
I see a recovery sometime tomorrow, lasting a week or so, and then another strong sell-off to form a bottom that should last until sometime in the summer.
3800 just may get hit this year. I thought it wouldn't happen until 2010-2011, but now I'm thinking late this year.
turn around tuesday...? or has that horse been beaten to death?
1.17 as I type.....
It will, but from much lower.... :~) watching it......
I just put another 15% into Contra. I'm now 50% in. A major move down on Monday, and I'll get the investment up to 75%.
Just looking for one good month. Just one! The garbage out of Washington really bothers me, though.
If the XLF can rally to 8.82 (or better) tomorrow, I believe if would be a great place to "short" the financials, via the SKF or FAZ.
Should be good for 5-10% over a day or two.
Won't be able to watch until noon-ish on Friday. Last day of the (terrible!) month. Should be interesting. :~)
Up. Conservatively, I'm looking for SP500 900 (could go as high as 1000); DJIA 8700; and NASDAQ 1740-70 area.
The temporary recovery maybe underway. It's my understanding that 'miles driven' (in the USA) are increasing again.
That bodes well for crude, and, the economy in general.
To steal a thought from Dent:
I believe the eye of the hurricane is about to pass over us. We'll get hammered badly by the back of the storm. That's the one that nobody will be expecting.
Back-end hits sometime in 2010.
All jmho,
dieselfuel
MSFT is another one that's WAY oversold on the daily, weekly, and like the DJIA, EXTREMELY oversold on the monthly chart.
Due for a good sizd run, imo.
I think the financials and auto stocks can make for some great day trades.
And some are o.k. to holds for awhile. Like: F, USB, FMER, and dare I say, GE.
There's some good local banks out there that are getting hammered due to "association', lol! That's why I like FMER. It's headquartered in my hometown, so I'm familiar with it.: No sub-prime.
After not watching it for quite awhile, I've started looking at it once in awhile.
Might trade it, but I'm just not into buying individual stocks and holding them.... just trading....
FNSR's trading at 27 cents, an all time low,... is it even worth buying for a trade here at these levels....?
Are they going under....?
I'm in @ 8.99
Supposedly, you strip out GE Credit, and the rest of the company's 9 bucks easily.
I'm just looking for a couple of points.
I'm in GE, FMER, DXO,UNG, and I trade in and out of VLNC.
At the close, I moved 35% retirement funds from money market to Contra.
I have not had retirement money in the markets since July-August of 2008.
The DJIA is EXTREMELY oversold on a monthly basis, I can't ignore it any longer. I'm looking for at least 1 up month, and hopefully 3.
I'll admit though, I pretty scared because I've lost faith in our government.
I believe in the American people as a whole, but I've lost all faith in our government. :~(
On our way to DJIA 6800 and SP500 740. NASDAQ I'm not so sure about...
Of course, tomorrow is expiration, so maybe today, games are being played... and tomorrow closes up big... I don't know....
Looking for 1504 on the NASDAQ.
CHK setting up for a nice 1-3 day short, a green open Tuesday is a gift, imo.
Edit: Ditto for AAPL. And there's a nice juicy gap 20 points below today's close of 102.51 Again, any green tomorrow would be a gift, imo.
Dick's Sporting Goods? Why is that one so compelling? I don't get it....
Yesterday's and today's (so far!) action is a game changer.
This current move off of the NASDAQ 1295 bottom could just continue up to the 2035-2065 area. It will have to break through 1666 first. This is what I'll be watching for.
I'll be looking for a www sell-off next Tues., Wed., or Thurs.
If we close today down, or flat, then it's still a 'coin toss', imo.
I never played it... just analyized it... got busy this morning with 'real' work and forgot about DRYS until I just checked out da cheif's thread.... :~(
It looks pretty oversold here... due for a rally.
Have you been looking at Terry's site recently? It's one I really look forward to.
http://www.ttheory.com/2009/02/index.html
DRYS 6.64 and still not extremley oversold. ouch...!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=34630452
GOOG cap-ex fell WAY OFF, and they hired only 99 people in the Q. Usually, they hire a 1000 or more.
Also, GOOG has to re-price the strike price of employee stock options because the price has fallen so much.
fwiw,
df
Nothing in particular. I just think in a few days,we'll know how WS feels about GOOG. Could be games played on Friday and Monday.
Well, I still ues the Yellow Pages occassionaly. Like when a few weeks ago I needed a muffler for my Cutlass. Google's useless for that. I used the YP, it was much faster.
I not sure about that.... I don't like the way they came up with the numbers.
Looking forward, do you think GOOG will get more advertising money , or less? In other words, do you think advertisers will be be spending more money going forward with GOOG, or will the advertisers be spending less?
I guess we'll know by Tuesday what the street thinks.
BTW, I'm looking for 1085 on the NASADQ. Breaking 1439 Friday, and things get real interesting.
The DJIA I'll just post a "babyboomer low" as 3841 (at least!)
Tom Laundry is calling for DJIA 3400 and possibly as low as 2000.
Very, very, worth a look at his website and analysis, imo.
http://www.ttheory.com/2009/01/index.html
So far... so good... lol!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33389359
In DXO @ 2.48.... eom
Took a position in UNG at 19.85
Sold GLL for a 4.4% loss. Tired of watching opps pass me by. GLL is the biggest pos I've traded in a long time..... since SONS, I guess.... lol! Still believe gold goes to 740, at least, but,I'm just not into the Chineese water torture any longer... lol!
Anyhow, I'm eyeing UNG, .... very oversold on the daily chart.... I can't believe nat gas is trading as cheap as it is, especially considering the cold spell the nation is currently under going....
watch 840 on the SP500. Breaking down through that, and it'll get nasty..... real nasty.
November lows in the indexes are going to get tested, imo. And breaking down through, and it's gonna be bad..... NASDAQ will head towards 1080 level.... may not start here, but I believe that's where we're headed..... fwiw, imo....
I'm short via QID and GLL. I believe we head down this week with one , possibly 2 green day.
But I'm still looking for 1080-1088 on the NASDAQ.