rimm, or rNimm right now....I have not seen a more tempting buy out there, anyone get kneecapped over this today?

9/26/2008 3:50:27 PM

Goddamn WB.

9/26/2008 4:08:18 PM

wb will make a comeback, talks are starting with c

9/26/2008 4:13:42 PM

in hindsight i'm glad i didn't have any RIMM - although i may pick some up later this morning.

9/29/2008 1:16:19 AM

I bought some when it dipped to 110.

[Edited on September 29, 2008 at 8:09 AM. Reason : ]

9/29/2008 8:09:03 AM

Wachovia drops from 10 to < 1 on Citigroup buyout, sucks if you had any of that

9/29/2008 8:55:17 AM

I didn't, but I know a guy with a boatload

9/29/2008 9:13:24 AM

I think I'll just start shorting bank stocks...

9/29/2008 9:54:02 AM

Pre-Market: 0.93 -9.07 (-90.70%)

9/29/2008 9:56:10 AM

PWNT!!

[Edited on September 29, 2008 at 10:03 AM. Reason : 290 points down]

9/29/2008 10:02:44 AM

this is why i'm on the sidelines.

i'm just watching all of this crap, i have no idea how to profit on this without losing my ass.

9/29/2008 10:07:41 AM

RIMM is at 15 month lows - is it that bad? i think its oversold


...ok, so i picked a little bit up at $65.38




[Edited on September 29, 2008 at 10:29 AM. Reason : bought some RIMM]

9/29/2008 10:25:39 AM

AAPL at $110

9/29/2008 10:29:42 AM

hey finance.google

Wachovia Corporation (Public, NYSE:WB)
500.00
+490.00 (4,900.00% )
Real-time: 10:38AM EDT

wat

9/29/2008 10:40:59 AM

^ lol yeah

Quote :

"Mkt Cap: 1.08T "

definitely a misprint

9/29/2008 10:43:38 AM

1000-1 reverse split?

9/29/2008 10:44:15 AM

You have a 50/50 chance here

The passing of the bailout somehow actually changes the current sentiment (which is, the bailout won't work)

or, you can assume either the bailout doesn't pass or (again, as the consensus is implying) it won't work

Short the financials

Were very nearly fucked folks

Quote :

" Nouriel Roubini | Sep 29, 2008 It is obvious that the current financial crisis is becoming more severe in spite of the Treasury rescue plan (or maybe because of it as this plan it totally flawed). The severe strains in financial markets (money markets, credit markets, stock markets, CDS and derivative markets) are becoming more severe rather than less severe in spite of the nuclear option (after the Fannie and Freddie $200 billion bazooka bailout failed to restore confidence) of a $700 billion package: interbank spreads are widening (TED spread, swap spreads, Libo-OIS spread) and are at level never seen before; credit spreads (such as junk bond yield spreads relative to Treasuries are widening to new peaks; short-term Treasury yields are going back to near zero levels as there is flight to safety; CDS spread for financial institutions are rising to extreme levels (Morgan Stanley ones at 1200 last week) as the ban on shorting of financial stock has moved the pressures on financial firms to the CDS market; and stock markets around the world have reacted very negatively to this rescue package (US market are down about 3% this morning at their opening). Let me explain now in more detail why we are now back to the risk of a total systemic financial meltdown… It is no surprise as financial institutions in the US and around advanced economies are going bust: in the US the latest victims were WaMu (the largest US S&L) and today Wachovia (the sixth largest US bank); in the UK after Northern Rock and the acquisition of HBOS by Lloyds TSB you now have the bust and rescue of B&B; in Belgium you had Fortis going bust and being rescued over the weekend; in German HRE, a major financial institution is also near bust and in need of a government rescue. So this is not just a US financial crisis; it is a global financial crisis hitting institutions in the US, UK, Eurozone and other advanced economies (Iceland, Australia, New Zealand, Canada etc.). And the strains in financial markets – especially short term interbank markets - are becoming more severe in spite of the Fed and other central banks having literally injected about $300 billion of liquidity in the financial system last week alone including massive liquidity lending to Morgan and Goldman. In a solvency crisis and credit crisis that goes well beyond illiquidity no one is lending to counterparties as no one trusts any counterparty (even the safest ones) and everyone is hoarding the liquidity that is injected by central banks. And since this liquidity goes only to banks and major broker dealers the rest of the shadow banking system has not access to this liquidity as the credit transmission mechanisms is blocked. After the bust of Bear and Lehman and the merger of Merrill with BofA I suggested that Morgan Stanley and Goldman Sachs should also merge with a large financial institution that has a large base of insured deposits so as to avoid a run on their overnite liabilities. Instead Morgan and Goldman went for the cosmetic approach of converting into bank holding companies as a way to get further liquidity support – and regulation as banks – of the Fed and as a way to acquire safe deposits. But neither institution can create in a short time a franchise of branches and neither one has the time and resources to acquire smaller banks. And the injection of $8 b of Japanese capital into Morgan and $5 b of capital from Buffett into Goldman is a drop in the ocean as both institutions need much more capital. Thus, the gambit of converting into bank while not being banks yet has not worked and the run against them has accelerated in the last week: Morgan’s CDS spread went through the roof on Friday to over 1200 and the firm has already lost over a third of its hedge funds clients together with their highly profitable prime brokering business (this is really a kiss of death for Morgan); and the coming roll-off of the interbank lines to Morgan would seal its collapse. Even Goldman Sachs is under severe stress losing business, losing money, experiencing a severe widening of its CDS spreads and at risk of losing most of its values most of its lines of business (including trading) are now losing money. Both institutions are highly recommended to stop dithering and playing for time as delay will be destructive: they should merge now with a large foreign financial institution as no US institution is sound enough and large enough to be a sound merger partner. If Mack and Blankfein don’t want to end up like Fuld they should do today a Thain and merge as fast as they can with another large commercial banks. Maybe Mitsubishi and a bunch of Japanese life insurers can take over Morgan; in Europe Barclays has its share of capital trouble and has just swallowed part of Lehman; while most other UK banks are too weak to take over Goldman. The only institution sound enough to swallow Goldman may be HSBC. Or maybe Nomura in Japan should make a bid for Goldman. Either way Mack and Blankfein should sell at a major discount of current price their firm before they end up like Bear and be offered in a few weeks a couple of bucks a share for their faltering operation. And the Fed and Treasury should tell them to hurry up as they are both much bigger than Bear or Lehman and their collapse would have severe systemic effects. When investors don’t trust any more even venerable institutions such as Morgan Stanley and Goldman Sachs you know that the financial crisis is as severe as ever and the fear of collapse of counterparties does not spare anyone. When a nuclear option of a monster $700 billion rescue plan is not even able to rally stock markets (as they are all in free fall today) you know this is a global crisis of confidence in the financial system. We were literally close to a total meltdown of the system on Wednesday (and Thursday morning) two weeks ago when the $85 b bailout of AIG led to a 5% fall in US stock markets (instead of a rally). Then the US authorities went for the nuclear option of the $700 billion plan as a way to avoid the meltdown together with bans on short sales, a guarantee of money market funds and an injection of over $300 billion in the financial system. Now the prospect of this plan passing (but there is some lingering deal risk the votes in the House are not certain) -as well as the other massive policy actions taken to stop short selling “speculation” and support interbank markets and money market funds - is not sufficient to make the markets rally as there is a generalized loss of confidence in financial markets and in financial institutions that no policy action seem to be able to control. The next step of this panic could become the mother of all bank runs, i.e. a run on the trillion dollar plus of the cross border short-term interbank liabilities of the US banking and financial system as foreign banks as starting to worry about the safety of their liquid exposures to US financial institutions; such a silent cross border bank run has already started as foreign banks are worried about the solvency of US banks and are starting to reduce their exposure. And if this run accelerates - as it may now - a total meltdown of the US financial system could occur. We are thus now in a generalized panic mode and back to the risk of a systemic meltdown of the entire financial system. And US and foreign policy authorities seem to be clueless about what needs to be done next. Maybe they should today start with a coordinated 100 bps reduction in policy rates in all the major economies in the world to show that they are starting to seriously recognize and address this rapidly worsening financial crisis."

9/29/2008 11:23:07 AM

I have an etrade account. Which PUT of MS should I buy to maximize profit since I can't short sell.

9/29/2008 11:32:34 AM

How does short selling work anyway?

9/29/2008 11:33:28 AM

i think they put a hold on short sells for over 700 financials...not sure but that is most likely why its frozen now

9/29/2008 11:34:48 AM

I know, but how do they work in general?

9/29/2008 11:43:13 AM

so does anyone think Visa is a good buy right now, or it will fall more?

9/29/2008 11:52:41 AM

9/29/2008 1:10:36 PM

fall

9/29/2008 1:45:30 PM

DOW down 670

9/29/2008 1:47:34 PM

oh shit, rescue bill not passing yet

fuck it, i just bought some more CHK

9/29/2008 1:49:01 PM

dem: 141 yea 94 nay
rep: 65 yea 133 nay


totals:
206 yay
227 nay

1 nv


didn't pass majority to move to senate


[Edited on September 29, 2008 at 1:53 PM. Reason : ]

9/29/2008 1:50:09 PM

WTF - someone just do something - panic OMG!!!!

9/29/2008 1:53:01 PM

down $600 for the day, sweet

AAPL at $104, may scoop some up... sell everything else lol

[Edited on September 29, 2008 at 2:10 PM. Reason : ]

9/29/2008 1:58:20 PM

not going to pass as it stands

expect trading curbs to come in on the exchanges

9/29/2008 2:10:55 PM

^ yeah, i was toying with the idea of buying QID, but if they halt trading, that will be a bad idea.

9/29/2008 2:11:58 PM

*watches our economy collapse*

9/29/2008 2:12:14 PM

Quote :

"down $600 for the day, sweet"

I won't know til eod, but I'm guessing it will be close to 10X that for me.

9/29/2008 2:21:47 PM

^ I won't be down quite that much, but it will certainly be a big chunk of change.

edit: Glad I sold my V when I did or else I'd be in the red.

[Edited on September 29, 2008 at 2:26 PM. Reason : ]

9/29/2008 2:23:24 PM

VIX spiked to 45

i feel like buying more stuff - don't know what to do

9/29/2008 2:26:01 PM

It's just gambling at this point.

Sure, the allure of getting in here real cheap is there. But just slow down and think. All the talk from people who know about the bailout know that it stinks.

There are enough people with a clue in Washington that aren't going to let this thing pass.

It takes weeks of hearings from the brightest people in the country to put together a comprehensive plan (if one at all happens).

The market is going to keep falling (as it should have been doing starting 2 weeks ago) until the proper plan is in place.

And even that might be enough as everyone finally wraps their head around just how bad this situation is.

Stay the hell out of the way, there are no fundamentals to be traded against here. It's all fear and luck that you get on the right side of a news story.

For those of you that questioned me a few pages back about moving my fund out of my 2040 and into the stable value...how do you feel now?

9/29/2008 2:41:31 PM

if only we knew who you were

9/29/2008 2:45:13 PM

lol, 1 post and gone

Chance etc etc

9/29/2008 2:48:30 PM

Quote :

"For those of you that questioned me a few pages back about moving my fund out of my 2040 and into the stable value...how do you feel "

that u are an idiot.

My 401k is very aggressive. The more the market crashes the more shares of my various mutual fund allocations i get to pick up. 40 years I will be smiling.

9/29/2008 2:56:00 PM

Why are you guys censoring me?

I try to provide some pretty valuable insight in here and in TSB and Sports Talk. I've been around here, I have a clue, I know what I am talking about.

If folks would have listened to me pages ago, they wouldn't have continued losing their ass.


Whoever keeps locking these accounts, can you please wrap your head around the idea that maybe

just maybe

I'm not here to troll the pathetic 90% of the user base that screams TROLL the moment I make a post on this site. There are quite a few people here with half a clue that I like to respond to and enjoy reading their responses just the same. Open your eyes, and stop reading the posts of the idiots that don't have a clue.


^ You have no clue. If I would have left my 401k where it was, I'd be down 4 grand right now. If you had a clue, you'd move yours over temporarily while this thing burns, then once everything stabilizes and the trend clearly is going forward (or at least flat) you can safely move it back.



[Edited on September 29, 2008 at 2:59 PM. Reason : a]

9/29/2008 2:57:45 PM

than i wouldn't be buying mutual fund shares on discount now would I?

If I was investing a lump sum you would be right....

Since though I am purchasing in bi-weekly installments w/ company match, than yeah I probably will lose money. During the long term though I am sure prices by 2050 will be higher than they are now. All the shares i pick up with receive a massive capital gain even after the short term turmoil. Right now I am 5% pre-tax paycheck; 3.5% company match. The thing is you can't trade different 401k allotments around. Otherwise you would be right. Any money I put in stable value is stuck in stable value; earning 3% for 40 years. That is unless i leave teh company in which case i will roll over my 401k into the program of my future employer.

BTW who is this guy they keep suspending. What did he do?

[Edited on September 29, 2008 at 3:14 PM. Reason : a]

9/29/2008 3:09:14 PM

Yeah, I agree with you HUR.

9/29/2008 3:15:01 PM

you cant move your allocation around? that sucks. But yea I have all mine very agressive right now. Im at 15% contribution + 5% employer match and yea my 401k is tanking but Im still contributing the same amount and still putting it 90% in stocks. Im hoping like you are to cash out in the long run.

9/29/2008 3:16:57 PM

I can move it around.

9/29/2008 3:18:11 PM

That's what she said.

9/29/2008 3:18:52 PM

I can change my allocation for future paychecks whenever. I could be wrong but once i have a chunk of my paycheck allocated I can't move that money though.

Right now I am 8% Company Stock, 5% of some Bond Fund, and 87% Stock Mutual Funds ( mix of various type but with largest allocations in a S&P 500 index fund, an international fund, and an aggressive growth fund from fidelity called the "contra fund")

9/29/2008 3:21:43 PM

So, you can't rebalance it?

9/29/2008 3:22:27 PM

I can rebalance my allocations

I can't balance money already invested, i could be wrong though. Perhaps I should figure out how I can do this if possible.

9/29/2008 3:23:16 PM

There must be a way.

9/29/2008 3:24:58 PM

i cant see a plan that would not allow you to do that.

9/29/2008 3:25:19 PM