kaltbaum premarket

I am amazed CNBC brings on a vc who bought Facebook early but at $31 and is now losing money. What did he say? Facebook is going much higher. Really? Had no idea he would say that. He tried to compare amazon to facebook when they went public. The idiot interviewing him doesnt mention valuation…as facebook came public about 200x amazon’s valuation. Schmucks!

Futures bouncing around…now down a wee bit.

I will continue to give you out a weekly list of leaders just to keep you in gear. It is imperative you do not put your head in the sand while the market corrects.

I still dont have short set-ups RIGHT HERE…but in any bounce…a ton. Friday’s action took everything breaking down out of the bearish wedge…but I had to wait for the employment number. There was no way I was coming in short going into Friday’s number.

Continue to protect your capital. In time, the shorts will set up again…big time. The news is fluid. Every hours, there is someone yapping out of Europe on the next save…and of course, we have Bernanke lurking out there.