Bah cant decide what I think the market is gonna do today, up a bit this morning but so many bad reports I just dont know if it can hold.

11/7/2008 9:35:48 AM

already back down again

shorts will rule for a while yet.

11/7/2008 9:53:37 AM

DJIA up almost 200 pts? wtf?

11/7/2008 10:21:31 AM

appears the past 2 days may have already known those bad reports were coming and its already been priced in

11/7/2008 10:34:35 AM

^

Rumors were awful on both Wed and Thursday. Jobs report came in about where I heard it flying around the blogosphere.

GM's loss was right on target for the rumors. So was the news that they may be facing bankruptcy in the next 90 days unless credit conditions improve.

11/7/2008 11:47:56 AM

GM to go bankrupt?

11/7/2008 1:04:00 PM

^ Its certainly possible

Now I think Washington will step in but things do not look good. GMs unsecured credit is trading at 20 cents on the dollar.

[Edited on November 7, 2008 at 1:16 PM. Reason : .]

11/7/2008 1:15:42 PM

why should washington step in? we are reaching a slippery slope if we start bailing out regular corporations? the financial bail out is one thing, but this is another. i understand a ton of jobs are affected but still, this is no longer a free market =(

11/7/2008 2:27:06 PM

And folks were calling Obama a socialist...

11/7/2008 9:23:27 PM

So I feel a rally coming this week trying to figure out what I wanna try to trade for some quick cash hopefully

I was looking at RIMM its trading at 50 already this morning but had a big fall last week and may bounce back if we really this week. Its also just above the 07 support levels so its either gonna fall to 25 soon or start moving up/trade sideways at least

[Edited on November 10, 2008 at 8:50 AM. Reason : .]

11/10/2008 8:46:05 AM

Why do you feel there is going to be a rally?

11/10/2008 9:04:58 AM

No concrete reason just a gut feeling I guess, I think we found a temporary bottom and we are playing the up a few days down a few days game right now as things settle. The past few days have been down days so Im expecting a few up days to begin the week followed by a selloff come end of the week. Just my opinion obviously

11/10/2008 9:30:41 AM

any rally will be 100% artificial. so much bad news all the time, it can't hold up.

11/10/2008 9:52:48 AM

Dude fuck RIMM

11/10/2008 10:13:24 AM

I sold out of GM just above $6. Even with the news, I am considering rebuying. I think the government will end up giving them the loans they need to stay afloat without declaring bankruptcy.

11/10/2008 10:22:50 AM

I'm thinking the same way. With as much money that is being passed around, I have a hard time thinking that they are suddenly going to stop giving, especially now that Pelosi and Reid are on the case for the automakers.

11/10/2008 10:24:28 AM

I'm thinking the same thing....but I also though Wachovia would be in the clear....WRONG

11/10/2008 11:01:00 AM

i wouldn't put money in for GM until under $2

11/10/2008 11:08:45 AM

Im ok with an artifical rally hence why Im lookin quick trade

11/10/2008 11:30:49 AM

i know tww is not the place to look for investment advice, but can someone give me some good index funds i can look at on morningstar?

i want to go ahead and put my roth $ in for this year staggered over the next 5 weeks, but i'm not really trying to be that risky with it right now, just be able to take advantage of the eventual rebound in the market (whether it's next year, two years from now, whatever).

so any other ideas for that besides an index fund would be ok too, i just want something balanced and not a high risk at this point (i'd be ok with that later).

11/10/2008 12:27:49 PM

qqqq

11/10/2008 12:29:48 PM

Quote :

"i wouldn't put money in for GM until under $2"

What's magical about $2? If they don't get a bailout, they'll go bankrupt and the stock price will go to zero. If they get one from the government, it will most certainly go higher than the $3.30 it is at now. If you're going to make a play at this stock and a bailout, it's probably better that you get in now when a bailout is not certain rather than think the stock will go to $2. The analyst downgrades did their damage today, I don't think the stock goes to $2 any time before year end if the bailout doesn't happen.

11/10/2008 1:45:04 PM

i just threw out $2 b/c i really have no faith in GM and the people trading it

anyone been looking at FBC? seems like a good deal from a paper standpoint. i know some ppl that work there and they seem to be okay to weather the storm.

11/10/2008 2:13:14 PM

Regarding GM, if the financial sector is any indicator, even if they get a bailout, the odds are the common stockholders will be wiped out.

11/10/2008 2:14:14 PM

The shareholders value has generally already been wiped out. We're talking about a short term trade here. AIG went from 2.05->5 when the first bailout report flew. They were up around 25% in early trading today. I don't have a big account to trade with yet, but I pulled the trigger on 200 shares of GM at 3.29 today with a stop loss set to $2.50. The automakers will hold congress hostage claiming 2 million will be out of a job if they go bankrupt. That number will look huge compared to the 1.4 million that has been lost this entire year. With more than 1 trillion already allocated to the financial sector, surely the Fed comes up with a paltry 50 billion to try and tide the automakers over for a little while longer.

11/10/2008 2:48:34 PM

50 billion for the automakers ... may as well throw it in the depths of the ocean

11/10/2008 2:49:35 PM

I got in GM today @ 3.24, not a ton of money though

11/10/2008 2:54:25 PM

it's risky, just set a stop market order

[Edited on November 10, 2008 at 2:57 PM. Reason : ]

11/10/2008 2:56:47 PM

GM: Total Equity -56,970.00

11/10/2008 4:01:15 PM

Quote :

"50 billion for the automakers ... may as well throw it in the depths of the ocean "

It's kinda sad, they might not get the bailout because everyone recognizes they've made bad decisions and should be allowed to go bankrupt...yet, we are giving money to the banks who made bad decisions.

This is the only reason I think they'll get it. There is a strong sentimental value for US automakers. They represent 4% of GDP. Do you really see congress letting ~2 million workers on main street go without a bailout while the fat cats on Wall Street got their bonuses this year?

Quote :

"The past few days have been down days so Im expecting a few up days to begin the week followed by a selloff come end of the week. Just my opinion obviously"

Ouch, hope you didn't trade on your gut instinct. We'll retest the support levels we hit a few weeks ago before we retest the resistance. I'm hoping to do some buying when the S&P gets under 900.

[Edited on November 10, 2008 at 9:45 PM. Reason : .]

11/10/2008 9:42:54 PM

i put a limit a few weeks ago on brk.b at 3250. it's at 3440. i wonder if i should move the limit down lower

11/11/2008 10:15:26 AM

meh - that's not a bad price point - i'd keep it probably ... i'll put one in for 3k just b/c that's all i have in my ira currently to trade


GM at 2.77


and where does 2 million workers come from? i thought they employed 250k? or are you talking about GM only dealerships too or what?

11/11/2008 10:22:05 AM

dealerships have to be included to reach that # i think

11/11/2008 10:39:39 AM

Quote :

"and where does 2 million workers come from? i thought they employed 250k? or are you talking about GM only dealerships too or what?"

I'm talking about the industry in general. You also have a lot of other suppliers that feed them. So, the number affected won't just be GM, it will be them plus everyone GM buys from. You can bet as the lobbyists attempt to hold congress hostage over a bailout package, they'll be using whatever numbers they can.

11/11/2008 10:46:05 AM

gonna sell my SRS, and buy a little NT.

hahha, yes, Nortel.

11/11/2008 11:30:55 AM

Retained Earnings (Accumulated Deficit) -36,813.00

Do you know something the rest of us don't?

11/11/2008 11:40:52 AM

NKE is finally moving into BUY territory...

11/11/2008 12:02:37 PM

^^

hahhaa hell no.

nothing but a gamble.

[Edited on November 11, 2008 at 12:16 PM. Reason : sold 10 shares of SRS @ $160]

11/11/2008 12:09:27 PM

NT will file for bankruptcy within a year, hope you plan on it being a quick gamble lol

11/11/2008 4:20:37 PM

GM at 3.52 just before the open. Sucks I was impulsive and got in at 3.26 instead of 2.80. I didn't expect it to drop another 8% on Tuesday. Now, the question is how much of the bailout rebound is getting factored in ahead of time and will it pop up even more on the news.

11/12/2008 9:27:29 AM

Hilarious, every time Bernanke or Paulson go on the boob tube to reassure us, the market takes a plunge.

Edit.

GSE's operate on strong stable footing. I'd short them both RIGHT NOW.

[Edited on November 12, 2008 at 10:42 AM. Reason : .]

11/12/2008 10:40:50 AM

^^^

well, my order never got executed, so it ultimately got cancelled.

just put in an order for 100 shares of SSO.

11/12/2008 10:59:39 AM

i wish i had cash to go long some more CHK

11/12/2008 12:03:17 PM

Quote :

"i put a limit a few weeks ago on brk.b at 3250. it's at 3440. i wonder if i should move the limit down lower"

Get you some:

http://www.thestreet.com/_rms/s/kass-warren-buffett-has-lost-his-groove/newsanalysis/investing/10447422.html

^^ Be careful, I think this dip goes a good bit deeper than the last one. I'm going to wait on it to breach the Oct 27 low, and then another day or two more of selling off after that, then I'll move into SSO

[Edited on November 12, 2008 at 2:16 PM. Reason : .]

11/12/2008 1:56:32 PM

Ok so next time I say I feel a rally coming be sure to short every stock out there lol

11/12/2008 5:25:30 PM

so 7000?

11/12/2008 7:25:13 PM

I might as well have just taken all this money and bet it on a football game or played online poker with it, I might still have lost it all but at least it would have been more fun lol

11/12/2008 7:32:51 PM

^^Im waiting for something like that before I pick up a few things

until then, I think I would rather do what ^ said and just bet it on football and bball.

11/12/2008 7:43:54 PM

Holy shit what a great day. My TWM and EEV made some big progress and my FSLR absolutely rocked. I shorted FSLR at $134.50.

More hedge fund redemptions on friday. I bet friday sucks balls. If we break 7500 on the dow the shit will hit the fucking fan. We may just test those lows and stay there but if it breaks that, watch the fuck out.

11/12/2008 9:55:09 PM

I don't think we go that low on this wave. I think we pass by the 27th lows tomorrow and the next day. We'll languish along until the buyers get courage again and the market will roar back a little just like last time. That will live through the end of the year when the real sell off takes place - when the reality of just how fucked we are finally sets in. The recession will be official and dated nearly 1 year earlier AND all the stupid bailout plans and the new 3 trillion in debt shoved on the nations balance sheet will loom like the Death Star.

11/12/2008 10:27:12 PM