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James Quinn is a senior director of strategic planning for a major university. James has held financial positions with a retailer, homebuilder and university in his 25-year career. Those positions included treasurer, controller, and head of strategic planning. He is married with three boys and... More
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  • WHAT HAPPENS NEXT 4 comments
    May 6, 2010 10:01 PM

    Before I guess what will happen tomorrow, keep the big picture in mind. The reason the world markets are in turmoil is DEBT. Pure and simple. The ruling elite will try to distract you from the truth with bullshit and propaganda. Every government in Europe has accumulated humungous amounts of debt in order to fullfill the socialist agenda they promised their people. Socialism is a failure. You eventually run out of other people’s money. The United States has $12.5 trillion of debt. Obama plans to double that by 2020. The markets will not let us get to that point. Our financial system will collpse. The markets are starting to vomit on the debts of the world.

    Here are my guesses for tomorrow:

    • Asian markets will tank overnight. China is a house of cards. This will lead to Europe opening down tomorrow morning.
    • US futures will be down overnight.
    • I can guarantee you that Timmy Geithner and Bennie Bernanke are having conference calls with Lloyd, Vikrim, Jamie, and the rest of the banking cartel tonight planning to use their traders to prop up the market tomorrow morning.
    • The damage done behind the scenes is what you should really worry about. The idiots who operate on Wall Street were sure the markets were going up. These fools likely bought stocks on margin. The margin calls are happening tonight. These morons will have to raise cash at the open to meet their margin calls.
    • Now we get to the interesting part. Remember the CDOs that almost brought down the system in 2008? These derivatives are still completely unregulated. Whose bets have gone bad? No one knows. These weapons of mass destruction are exploding as I type this. Hedge funds are self destructing.
    • Employment will show an increase of 250,000 jobs (100,000 Census, 100,000 from the fake birth/death model, and 50,000 real jobs). CNBC will spin this as fantastic news.
    • The market will open down. The big banks will try to stem the tide. The market will go into positive territory.
    • There will be wild swings all day. It is likely that it will finish down modestly – 50 points or so.
    • If the market gets more bad news and goes down 200 or more points, we could be in for another Black Monday. Before the 1987 crash, the market already went down hard on Thursday and Friday before the big collapse on that Monday.

    Caution is the watchword. Keep in mind that this Crisis is only just beginning. The MSM will keep looking for a bottom and a new uptrend. That is at least 10 years off.

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Comments (4)
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  • Trading Alpha
    , contributor
    Comments (49) | Send Message
    Wow - nice job calling today's outcome. What do you think is in store for next week?
    7 May 2010, 09:44 PM Reply Like
  • James Quinn
    , contributor
    Comments (1015) | Send Message
    Author’s reply » Not too bad for a guess. I have no idea what happens next. I do think the trend will remain down. The market senses a double dip recession. 99% of the people on this site don't see it. I'll continue to trust the views of John Hussman and John Mauldin. They aren't shills trying to sell you something. The debts continue to accumulate. This won't end well.
    7 May 2010, 09:59 PM Reply Like
  • ecliptix543
    , contributor
    Comments (103) | Send Message
    I don't know about 99% of SA not seeing the double dip... maybe more like 70% - definitely a majority though. However, I've been waiting for it since this time last year. As for this upcoming week.. going by the forex open this afternoon, EUR/USD spiked IMMEDIATELY from around 1.28 to almost 1.30 as did the Yen, GBP, and AUD. This sort of gap doesn't bode well for a nice, smooth trading day Monday. I think of it this way: the more of these people that remain oblivious to the reality of this situation, the less competition the rest of us will have for those first few crucial days when this whole thing really does come down.
    9 May 2010, 09:08 PM Reply Like
  • James Quinn
    , contributor
    Comments (1015) | Send Message
    Author’s reply » The market looks like it will rejoice over the fact that heavily indebted EU countries have pledged to become more heavily indebted if one of their really heavily indebted countries can't repay their debts. Sounds like a long-term solution. Buy. Buy. Buy.
    9 May 2010, 10:37 PM Reply Like
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