October Stock Talk I

Visa back around IPO levels

Whoever wanted in and wasn't able to get in initially, the train has returned to the station

There are a zillion stocks that if I had money I would buy-

VLO
DPTR
MORE DRYS
EXM
GRMN
CROX (too cheap)
RIO
DSX
GNK
CSCO
RMBS

Funny thing is some stocks are STILL overvalued. I think GOOG is overvalued by 150 bucks given the drop in the market. I think AAPL is overvalued by 30 bucks.

WLD, I think the overall effect on the market would be worse if the ban wasnt in place..they would start to price companies to go under that shouldnt and that would create panic.

If anything they should put a ban on short selling period and reinstate the uptick rule for shorting.

Market regulators need to be careful here and not let things get out of hand.

Was there a provision in the bailout bill about the short sale ban ending within 72 hours of the bill being signed.  I have seen that on a few message boards but I haven't seen it anywhere somewhat reputable yet, although I honestly haven't really looked.

If it is true, that would be Wednesday

Dick Fuld looks like a greasy villain from a bad James Bond spoof

Anyone else notice that whenever CNBC has a live feed from Congress, whether it is a hearing or vote, the market tanks.

Down 600 now.

Its still early fellas, the pain hour is usually at 3PM Eastern.

 I think we ultimately see 8,000 or under.

Considering the term "band aid" has been used regarding 700 billion dollars, this enormity of this thing is just registering on our elected dimwits...

 The only laugh I got was after Barney Frank's staff was congratulated for "working so hard" by Nancy Pelosi, one wag commented that was the first and last time a woman would ever thank Barney's staff for working...

Now down 700

The pain hour could take us down 900.

Still the financials are hardly hurting, yet they are what started all this.

 They will get slaughtered when they if they lift the ban on shorting them, don't yopu think?

Oh yeah..

Financials would get murdered if lifted.

To me this is hedge fund liquidation or financial firms selling stocks they own.

The market doesnt go down like this unless someone is dumping and dumping and dumping.

Nobody stepping up to buy, everyone selling.

I need 1M to buy some stocks and make a big return.

Check lows on financials, most are WELLLL above lows when the market was 2k plus higher.

WFC at 32, low was 20
JPM at 42, low was 29
C at 16, low was 12.80
BAC at 31.60 low was 18
ZION at 36, low was 17

I find this to be a joke that the short ban is on to protect these names and the rest of the "innocent" market gets slaughtered.

Agreed.They are just prolonging the agony and ultimate evisceration of those issues.But that has been the essence of this entire response anyway, hasn't it?

 No matter what they manipulate, they are not going to be able to fight the overall direction of the enormous market forces.And that direction has been and will continue to be decidedly down.

 Count me in Hat, last week I had a good week in tennis.Time to go all in

I had a good weekend but I am not tossing investing size money on a sports game..

lol

They are TRYING to rally, but it is too early.

Wait till the bond market closes and see where she goes.

you would be 100% right....one 50m sale begats a margin call and fund b's dumping begats another magin call...and so on and so forth

I am going to be whining for the next year about prices of names I listed above, I know it.



They are trying hard here..we might be witnessing a bottom.

walls

thats very true  these financial's are the ones that should be killed not every other sector. the banks have a huge shield on them. the government has basically put up a blanket to protect them until their plan can carry them again.

that's another reason i think the short sale ban on them has that money being short on other companies. i dont think the short sellers moved thier money to the sidelines

Down 425

They are rolling the money from the treasury pits into the SPX.

I bet they are buying the futures like crazy.