Then, GOLD continued to rise to RECORD level after RECORD level up until yesterday.
When it was over $1100, I urged investors, once again, to PLEASE WATCH YOUR STOCKS...because there is NO WAY GOLD could be skyrocketing -- and Wall Street skyrocketing right along with it.
I also noted that from the time you step in your car to go to work, drive through rush hour traffic, get to your office, turn on your computer and check your stocks...IT COULD ALL COME CRASHING DOWN WITHIN THAT TIME SPAN;
and I urged ALL to make sure they can DUMP ALL STOCKS at the press of an internet button.
THE CITY OF L.A. let us all know that the city's pension recovery is tied to Wall Street, even though that was the problem in the first place. And Grieg Smith took the opposite side of Zuma Dogg's economic advice and warnings as recently as YESTERDAY, when he mentioned me BY NAME as he tried to defend the city against everything I have been saying about the pension money risk.
BUT L.A. IS LETTING IT ALL FLY..AND IS PROUD THAT THEY UPPED THE ANTE AND WENT EVEN HEAVIER ON WALL STREET TO TRY AND MAKE UP FOR LAST YEAR'S LOSSES.
So we'll see how it all plays out on Friday morning. And if the market is down in the first five minutes...you'll probably keep hoping and expecting it to come rallying back up to 10,000...11,000 on the way to a TOTAL RECOVERY 12,000!!!
NOT IN THIS GENERATION!
And to the Zuma Dogg followers, I am here to tell you -- MORE THAN EVER -- I get my stock info from a higher-power of "collective consciousness" -- and if the market TANKS on Friday morning, it will be proof enough for me. NOT because I am saying now, on Thursday evening -- after THIS headline hit CNBC.com:
US Markets Bracing for Selloff On Worries About Dubai's Debt
But because I called my relatives, this week...as in MONDAY, TUESDAY & WEDNESDAY to URGE them to GET THE HELL OUT OF THE MARKET AND TAKE PROFITS AT THESE RECENT RECORD HIGHS!!! TAKE A BREATHER IN THIS VOLATILE MARKET. SEE WHICH WAY THE WIND IS GOING TO BLOW.
Zuma Dogg was getting that "Rainman" Five Minutes to Wapner feeling, this week. And LUCKILY, I got some folks to act (they sold), but of course not EVERYTHING...because although my bi-polar outrage might be enough to scare the shit out of you enough to sell more than you would have during a BIG rally...those close to me know enough at this point not to argue with ZD's "Wapner" feeling...(but of course I can't expect the whole world to DUMP everything, just cause I say so.)
AND I SAY AS OF TOMORROW MORNING (FRIDAY) I AM TREMENDOUSLY FEARFUL THAT IT'S GONNA BE ONE DAY TOO LATE.
I don't have money in the market, but what I told my friends and relatives today is, "WHY DO YOU WANT THE GLOBAL ECONOMIC PROBLEMS TO BE YOUR PROBLEM???"
The fiscal stimulus money has kept things propped up, but I think we are seeing the first domino that is gonna trigger a whole bunch of dominoes.
And although this didn't happen from the time you left your house in rush hour traffic and made it to work -- THEY ANNOUNCE THIS ON THANKSGIVING THURSDAY WHEN THE U.S. MARKETS ARE CLOSED...AND THE REST OF THE ENTIRE WORLD IS HAVING A SELL-OFF WHILE YOU'RE WATCHING FOOTBALL AND EATING PIE!!!
YOU GOT BAMBOOZLED!!!
GOOD LUCK FRIDAY MORNING!!!
I DON'T KNOW WHAT TO TELL YOU NOW, EXCEPT, I WOULD SAY IT'S WORTH A 20% LOSS OF TOTAL VALUE TO GET THE HELL OUT OF THE MARKET ON THE OPENING BELL -- THAN TO HOPE THIS IS A ONE-DAY, ONE-WEEK OR ONE-MONTH PROBLEM. DO YOU NEED THIS AGGREVATION IN YOUR LIFE, YOU "BUY & HOLDERS?" THERE IS A MUCH BETTER WAY! BUT YOU ARE SO FIXED IN YOUR TRADITIONAL BROKER-BRAINWASHING, YOU DUMB SUCKERS!
Now I don't know WHAT to tell you, but I would get out for piece of mind because WHY should the WORLD'S GLOBAL ECONOMIC PROBLEMS BE YOUR PROBLEM? Why should the U.S. job problem be YOUR problem? Why should Wall Street Madoff corruption be YOUR problem???
P.S. Hey man...maybe I'm COMPLETELY wrong and Friday morning won't be any big deal . This is all in my head at this point, so we'll see. So remember that...THIS HASN'T HAPPENED YET, SO MAYBE I'M WRONG! FLIP SIDE: Dubai woes merely a "blip." cnbc video report
FRIDAY MORNING CLOSING BELL UPDATE: Here's an email from Nutty (MMMarry) Scummins to present the counterpoint:
NS: "You idiot, you overestimated in your constant chicken-little way that the sky was falling. You failed to understand that EUROPE has far greater investments in Dubai than the U.S., and that Abu Dabi will bail out Dubai which, by the way, is only asking for a delay in repaymenbt, not a total default."
ZD: Ms. Scummins, first of all, the day after Thanksgiving is usually a big RALLY day, as I'm sure someone as smart and knowledgeable as you would know. It was a half-day of trading, with most people off until Monday when the real and heavy trading starts. So the market being down 150 ain't a great sign.
People are still trying to figure out the extent of the Dubai situation. AND, you ALSO must-must-must consider market psychology. You can never be TOO reasonable and logical...there is always a HUGE psychology factor (perceptions) -- and you better not EVER-EVER discount that. (Yes, it's frustrating that people are idiots and it DOES mess everything up, but you gotta factor in the fools.)
AND THE FINAL POINT I NEED TO REMIND MS. SCUMMINS...IS THAT THE MARKET HAS NOT CLOSED FOR THE FINAL TIME TODAY. IT WILL OPEN UP ON MONDAY, then Tuesday...and EVERY weekday (except Holidays). So I hope you are not betting that the stock market will be going up everyday, forever, and that there is nothing to worry about.
But it was down 150, not up 150 on a day it's usually up, on a half-day. (Not real business day.)
And again, I wouldn't want my financial security and economic future tied to all of this global economic mess. Wait until they come back the next day and say, "Oh, it's worse than we thought. We didn't factor in some stuff." Isn't that how it always works? YOU SHOULD KNOW THAT MS. NUTTY SCUMMINS.
SO TO PEOPLE WHO FEEL THE COAST IS CLEAR AND THERE IS NOTHING TO WORRY ABOUT...HOLD! HOLD! HOLD ALL STOCKS!!! IT ALWAYS GOES BACK UP.
BUT MY MAIN MESSAGE CONTINUES TO BE...YOU CANNOT JUST "BUY AND HOLD" AND FORGET ABOUT IT. YOU GOTTA BE READY TO "DUMP" WHAT YOU NEED TO AT THE PRESS OF A BUTTON. Then watch the signs from ZD and ACT IMMEDIATELY!
You would have bought GOLD when it was at $900, then again at $1000 and would have sold it at it's peak this week near $1200.
You would have bout AAPL at $15 dollars and sold it at $200 in Dec '08.
You would have bought AAPL again when it was WAY down earlier this year, then sold it AGAIN, THIS WEEK above $200 -- AND WATCH TO SEE WHICH WAY THE WIND BLOWS -- to see Wall Street is going to rally, or tank.
REMEMBER DUMMIES...YOU CAN ALWAYS BUY STOCK BACK AGAIN...IT IS NOT COMMERCIAL REAL ESTATE OR A HARD GOOD!!! TAKE PROFITS!!! DO NOT GIVE IT ALL BACK...THIS WOULD CERTAINLY BE A "BREATHER" I WOULD TAKE.
I wouldn't want to be wondering what's going to happen on Monday, Tuesday, Wednesday...or next week, or next month...OR WHEN THE MARKET OPENS THE FIRST WEEK OF JANUARY AFTER THE HOLIDAYS.
MANY OF YOU ARE ABOUT TO WALK INTO THE SAME BUZZ SAW YOU DID LAST TIME...AND YOU ARE GOING TO MAKE THE SAME FUCKING MISTAKE AGAIN. IT'S SO INCREDIBLY SAD AND FRUSTRATING FOR ME TO WATCH. So have fun, either way...it has NO effect on ZD since I have ZERO DOLLARS INVESTED IN ANY OF THIS. Have fun!
You can scoff, but there are some walking around with a few extra millions in their bank account because of what ZD has said over the past decade, past five years and past year. (One of my close friends who argued with me EVERY STEP OF THE WAY on my stock market talk, ended up losing $7 million in one year and is completely broke and worse off than ZD now. YES, someone I have known since elementary school was smart enough to make the $7 million in the stock market...but when ZD warned him what was to come, last time...he belittle me, scoffed, scorned and had EVERY REASON IN THE UNIVERSE WHY HE WAS SO RIGHT AND I WAS SO WRONG.
Now he lost $7 million in ONE YEAR (because he was overly invested, overly optimistic and overly naive). And now he is broker than flat broke. You sound just like him.