350zCommtech's Account Talk

[Asylum]

msnbc headline...pres bush to deliver "upbeat" economic message within this hour....

Linked from Drudge:

President Bush Plans Bullish Speech On Economy
http://wcbstv.com/topstories/Bush.New.York.2.676953.html

 

[Braveheart]

At this point, we don't really know that it was ALL for BSC. There might be others. $200B is a lot of money.

I would not be gambling right now. Yes, the market should be down 400 points, but it's not. But if we hear more rumors like we did last weekend, Monday could be a -400 point day. Remember there's never one cockroach.

I guess I stay in G Fund. What really bothers me is the Fed acted as if they were dumping $200B into the Market but that was a flat lie. They lent that money to BSC and Chase to bail them out but they let the World believe otherwise and the Markets went up 400 points the biggest gain in 5 years on that news but it was a bogus lie. Just like yesterday the S & P lie the Fed was doing all it could to push this market up for 5 days at the expense of all of us.

 

[Braveheart]

The total bailout available is $400B not $200B. Don't forget the other 4 banks involved in this...it's a global effort. And the total writedowns are $400B not $285B as stated by S&P. We haven't seen the end yet...and the "swaps" haven't been figured in yet.

Damn your correct. How many people will just get FED up and leave this market of lies, rumors and deception. As Z stated earlier "Remember there's never one cockroach." So imagine all the B.S. we don't know yet or may never know.

Anyone looking at the S Fund or C Fund for next week !!!!!!!!!!:suspicious:

 

[offtrack]

The short squeeze play still might be on for stocks next week. There might be more rabbits to be popped by Fed. Just having Bush talk on the economy ought to sink this anoth 100 pts.

 

[presskh]

He wasn't lying, he knew about the bailout plan.

Good point!

 

[350zCommTech]

Anyone looking at the S Fund or C Fund for next week !!!!!!!!!!:suspicious:

After the cut, and/or maybe after OPEX, I would imaging the shorts will be shorting with hands and feet and maybe the kitchen sink.

 

[hessian]

Best advice I can think of, is an OLD saying:

[You can fool some of the people, some of the time;
fool all of the people, some of the time;
-but never can fool all of the people all of the time!]

(hope I got that right, but you get the idea!)
PS -Staying 35G, 65F

 

[Braveheart]

Anyone looking C Fund or S Fund for Monday ?


I am in the G Fund guess I will stay there.

 

[presskh]

Anyone looking C Fund or S Fund for Monday ?


I am in the G Fund guess I will stay there.

I have been thinking about it - however, given the lower high we made with the Fed's news last week, I'm thinking that it will go lower before a rally begins. That being said, I have been stuck in the G fund anticipating lower moves since January 18 and have missed most of the rallies, most of which were caused by a surprise Fed move.

 

[350zCommTech]

BSC CC at 12:30pm est.

 

[350zCommTech]

I'm staying in G. Everybody now knows the Feds will cut at least .75%.

 

[350zCommTech]

Nikkei futures -400.

 

[poolman]

The Market is being held up on Stilt's...

It's just a matter of time till they break...

 

[Braveheart]

Nikkei futures -400.

You know they are pissed and hate the Fed as much as we do.

 

[mojo]

Well he (Bush) slapped down this crap Barney was pushing about the gov buying up and rehabbing abandoned/ foreclosed homes.

I don't believe this housing mess is even close to being over. Any bailout is just ripping of the middle class, responsible, high credit rating, taxpayer.

The reason I know it's not over is because I'm still caught in the middle of it. Forclosures are just getting started in my area, driving my home value 100k below what I owe so far. There are only 2 owner occupied homes on my block. The rest were investors, many of whom put no money down. They have no interest in hanging on to these now devalued homes so they are just giving them back to the lenders. Many of them bought more than 1 home with no money down then had them reapraised at a higher rate before value dropped. They then actually pulled equity out of those homes and are walking away with a profit.

Then there are the responsible few who have families, great credit, put money down, etc. who are now being dragged down with the speculators and people who couldn't afford a home in the 1st place.

It also helps when S&P outright lies and politicians propose garbage like this:

Rep. Frank offers new foreclosure-help proposal
Wants government to pledge up to $300 billion in loan guarantees

http://www.marketwatch.com/news/story/rep-frank-offers-new-foreclosure-help/story.aspx?guid=%7BA4E417F9%2DBA16%2D49A7%2DA26E%2D1E82933945DB%7D&dist=hplatest

 

[350zCommTech]

Rumor of UBS being the next one.

I'll say it again. There is never one cockroach.

 

[350zCommTech]

W They have no interest in hanging on to these now devalued homes so they are just giving them back to the lenders. Many of them bought more than 1 home with no money down then had them reapraised at a higher rate before value dropped. They then actually pulled equity out of those homes and are walking away with a profit.

One of the reasons why I'm against any government bailout.

 

[350zCommTech]

BSC: Capital ratios remain in good shape: Bear Stearns CEO

Bear CFO:Firm has had no big mark to market hits since Feb

Bear able to do business as usual with new credit : CFO


Ok, so they're now in good shape thanks to the Fed. But what happens after 28 days? Pay it back or roll it over?

 

[350zCommTech]

VIX 38? Could that be where we bottom?

View attachment 3543

 

[weatherweenie]

Sure wish I had stayed F one more day, I'd be ahead 13 cents...but made 7 cents yesterday. Not bad. Sitting in G now.

20-20 hindsight.

At least you're not losing 2+% today.