November Stock Talk VI

More selling today..terrible reversal after being up 100 and 30 on the NAZ.

I sold my SPWR options for a loss, the chart on the stock says lower and even though they are June options I am not holding.

Getting nailed on most everything I own..terrible action in the market.

CFC hit 8 and change today..wow BAC taking it up the rear on that deal, IMB down to 8 and change today..

FNM and FRE getting nailed..

The ghosts are coming home to haunt the lenders...more than I expected...

CC,

I never really understood what you meant about a bailout package or how that even was possible..

Obviously the number of companies and people involved make it impossible to BAIL the entire group out..and the market realized that quite quickly.

I still prefer TOL to CTX for the reasons we discussed a while ago.

fyi - CFC bankruptcy rumors swirling today...denied by the company of course

So the Fed was debating the last rate cut..the market didnt care for that.

CFC goes under? Man that is some crazy talk, but I guess it wouldnt be the LARGEST to fall in history..but it would shock me.

Funny how GOOG is up 2% today on such a nasty day for the market.

Also I notice that ETFC getting hit again as the so called "suitors" only want to pick up the pieces, not buy the company..my comments about their mortgage baggage seems to be the exact issue. Ameritrade and Schwab dont want the mortgage CDO asset issue just to get the brokerage accounts..

Wow..

Hard rally fellas...big time rally, as strong as the fall earlier.

If they take FSLR positive after being down 15 I am going to be SHOCKED...

CC,

You are right..making money is what separates the wheat from the chaff.. taking a profit after a trade is NEVER NEVER wrong and you are better than me in that regard.

I let 20 pts of DRYS go turn into a 10 pt loss..this market is so swift and short term that even if you make a gain in a day or two you have to take it, and I did not..

Plenty of you guys had the financials right the whole way down, so kudos goes to you...

boiler,

I lost on PITT in my tease more than Balt who I also had in a tease.

I did kick butt though with the Cards and Cards ML and a few others..good thing to win once in a while..

So you think CFC is done? Done means shareholders get the shaft, not that the business is done. They will reorg and return at WORST..much like Delta Air etc..

I still dont think CFC is done..you guys see that monster rally at the end of the day on the stock?     

Gunners,

man you are reading my mind.

I was thinking that HANS is where I want it, as is NTRI. I think longer term both of these stocks are safe, as is WFMI.

HANS might look expensive but I am willing to take that risk, with correct stops in place etc.

I would love it in the middle 30s of course..

 Crude at 99.29 as I write this.

 The question of a bailout previously discussed raises the notion that the FED and the Treasury have limited options.Is it truly in their power to rectify that which they helped create?

 I hope everyone has a good day tomorrow and a happy holiday.

 The market seems to resemble a person I knew who was bipolar...of course now when someone mentions bipolar to me I try to run away as fast as humanly possible, but that is another story...although I am certainly tempted to have the same reaction to this market!

 Have a safe one everyone!
 

 CC

 Did not mean to be tiresome or dense...however, I will say,(and irrespective of any of your comments, and they were not aimed at you), as far as the Fed's situation goes, they have resorted to their usual methods, and the market is in fact down since they have.
 
 I am simply suggesting that this situation is beyond their abilities to control.They are caught in a no win circumstance, where if they cut, they lose, as the dollar drops like a stone and oil rockets upwards, and if they don't cut, they lose, and preside over a gut wrenching recession in an election year. ..not a very palatable menu of choices.Greenspam happily left the restaurant before that menu was provided.

  Anyway, the market appears to be grasping at straws. Any shred of bad news, it tanks.Any remote reason to be optimistic, it rallies briefly.

 I think it reasonable to think we are going to hear a lot more bad news than good in the coming months.



 

short day for me,,outta here at noon,,drink all day and then go to nit at the garden 2nite,,cfc down again,,about a buck right now,,everything down,this market blows,and will for some time,although i think i will pick up some csco right about now,,i cant do any work today,,people in my office are busting ouy the booze already,,not even 11:00 am,,depending on how drunk i get 2nite will determine if i will post my football picks 2morrow,,thats it for me,gl to all ,lets make some loot on holiday gambling,,short everything in this market and start drinking heavily,sage advice ,peace

Picked up some HLIT today at 10 bucks..a hair under 10.

Absolutely TERRIBLE close.

Bears trapped longs the last hour and took the market to the lows.

Have a good holiday everyone.