Apple Sells a Million iPhones; Proof US Economy is Robust
Apple announced today that it had sold 1 million 3G iphones over the weekend, exceeding all expectations. This mental recession is so painful. For the love of god make it stop.
Shouldn’t the consumer be ‘tapped out’ as the pro-Obama Marxist losers claim? Surely it has to be a hoax that Apple could sell roughly $400 Million dollars worth of iPhones in a single weekend. Aren’t we already in a great depression according to Obama?
If the consumer didn’t have any purchasing power in the form of credit cards, home equity, and rebate checks Apple wouldn’t have sold so many iPhones in such a short period of time. This proves as I have been saying for months that there is no credit crunch nor a liquidity crisis. Americans will continue to max out their credit cars to buy food, gas, and iphones, which benefits Visa and Mastercard; two stocks I have been recommending on this blog for awhile that have crushed the market.
We’re still in the new era of smartism, spendism, hypercapitalism, consumerism, paymentism, and web 2.0 which is why consumers will keep spending, McCain will win, facebook is worth $30 billion, and why the oil, food, and gas prices will keep rising. And there will be no pull out in Iraq or time table. The borders will be opened and jobs will continue to be insourced and outsourced. Obama and his baby momma will have an aloof Christmas in Chicago where they can belittle hard working Americans without impunity.
Sh*t Boom! Market Erases Gains
Sh*t Boom!
Within the first hour of trading the markets forfeited all the Sunday gains. All the major indicies are in the red, with the nasdaq down nearly one percent. Yesterday I was certain there would be a massive rally, but we got a sell off instead. I was dead wrong. Oh well shit like that happens. Bfft
Since I don’t advocate day trading and use a buy and hold strategy I’m not concerned about the sell off. My shares in MOS are up again for the fifth day in a row or something, and Visa and PCX are flat, so even with the reversal I’m well in the green. Meanwhile, day traders are trying to pick the bottom and top while losing money in the process.
The best strategy for these turbulent market conditions is to buy the same stuff that has been working for the past year. Stuff like KOL, PCX, MOS, MOT, AAPL, CLF, EWZ.
Futures Up HUUUUGE Market Set to Gap Higher
In a stunning turn of events the US market futures are up huge on reports that Paulson will shore up capital for the ailing Freddie and Fannie:
This proves once again that you don’t fight the fed, and that the best way to make money in the stock market is to buy the stocks that Ned recommends. Stocks like AAPL, MA, VISA, PCX, KOL, EWZ, POT, MOS, and GOOG. Boo hoo hoo markets too risky. Boo hoo hoo too much volatility and uncertainty. All rubbish. It is always a good time to buy stocks IF you buy the stuff I recommend. Also, don’t try to pick the bottom on financial stocks. With the exception of GS all financial stocks are garbage and should be avoided at all costs regardless of what the fed does.
While the losers reading slopeofhope, bigpicture and other day trading and economic blogs are kicking themselves for being out of the market, I can rest assured knowing that my Visa, MOS and PCX stock will be up huge tomorrow. No need to try to time the market when making money is as simple as buy and hold.
How much will the DJIA be up Monday? 200…300…450 points? Perhaps..All I know is tomorrow I’m gonna be seeing a lot of green, while the only green day traders, short sellers, and other losers will be is envy.
Ignore the talking heads and pundits who are over-analyzing the markets. The ‘credit crunch’ is fake, there is no recession except a mental one, there is tons of liquidity, and no housing bubble.
Obama and McCain are Even According to Latest Polls
In yet another setback for the Obama campaign, recent polls by Rasmussen show that McCain and Obama are even, erasing a four to eight point lead that Obama has held for the past month.
This should serve as a major wakeup call to the Obama campaign that there is a definite possibility Obama will lose the election, as I have written numerous times before.
But what about rising oil, gas, and food prices? What about the war in Iraq ‘going on too long’? What about the mental recession and the non-credit crunch? What about jobs being outsourced and rising tuition? What about polls that show that over eighty percent of Americans are dissatisfied with the direction of the country? You would think that with all these problems Obama would have a substantial lead over McCain, so why is he faltering?
The answer lies in economic theory, and Obama’s lack of solutions. While pro-Obama liberals complain constantly about rising gas and food prices, most Americans are gladly willing to pay inflated prices for food and gas because those goods are considered to be inelastic. What this means is that as the price rises the demand falls only very slightly. This is why Americans haven’t adjusted their driving and eating habits in spite of a rising prices in food and gas, and why $150 oil or $6 gallon gas isn’t nearly as big of a deal as the liberal media makes it out to be.
Also, Obama still comes across as an aloof elitist who doesn’t offer any solutions to anything. While McCain has outlined several energy solutions through his town hall meetings such as nuclear power, offshore drilling, and gas tax holidays Obama has yet to convey any specific plans to relieve high energy prices. In addition, Obama is still faces an insurmountable challenge appealing to hard working, middle class, white voters.
Meanwhile, there is evidence that the Iraq surge is working and Obama realizes that perhaps McCain was right all along not to pull out or demand a timetable. This further weakens his case against McCain because he can’t keep reusing the same talking point that the Iraq surge is a ‘failure’ and a ‘mistake’. And there are still valid concerns over Obama possibly being a Muslim, as well his his patriotism.
Obama is too liberal to win the presidency. I suggest to him that he concede the election early so that the nation won’t be as divided across party lines. McCain has much more experience and appeal to middle class and lower class voters. Oabma only appeals to SF liberals and he thinks small towns people are bitter and cling to guns and religion.