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quote:

Originally posted by diskodave Yeah, I made the same stupid mistake too. I knew they would have great numbers, which they did... but their guidance wasn't up to par. They always sandbag their earnings like that... Speaking of earnings, today Google missed their numbers.

speaking of mistakes, 3 weeks ago i should've went with my gut when countrywide hit an all time low of $5 a share and then shot up to $8.50 for a day.

if i had only pulled the trigger i could've made a 60% return on my money in 24 hours. i knew it was undervalued and was a sure bet :/

quote:

Originally posted by ninetyninej speaking of mistakes, 3 weeks ago i should've went with my gut when countrywide hit an all time low of $5 a share and then shot up to $8.50 for a day. if i had only pulled the trigger i could've made a 60% return on my money in 24 hours. i knew it was undervalued and was a sure bet :/

i think that would still be a bad trade but would be a lucky trade. in that case why trade countrywide when you can trade penny stocks?
if countrywide was by itself now the stock would have been hammered even lower. but youre right in a way, it would have been a great speculative buy out play.

quote:

Originally posted by diskodave Yeah, I made the same stupid mistake too. I knew they would have great numbers, which they did... but their guidance wasn't up to par. They always sandbag their earnings like that... Speaking of earnings, today Google missed their numbers.

i dont think that was stupid at all. the thing is everyone is so afraid and will short whatever no matter what. apple gave great results (some were complaining about the fact that they wouldnt reach their earnings because of bad holiday season... are you serious?)
apple always underpromises their future guidance that was no news.

i was waiting to trade on amazon because of their great holiday sales and was afraid to trade after seeing what happened to apple. in a way im glad i didnt trade and thought as i made the right choice but on the other hand its a great company exceeding. and still the companys stocks got hammered on aftertrade and i think it was because of 'lower margins'. are you kidding me, how about how much sales they've done? lower margins are because of discounts that they have in order to compete with other competitors. no one talked about the $200-300 profit just because of the currency benefit.

Speaking of stocks... Microsoft placed a bid to buyout Yahoo today!

There has been soo many rumors about Yahoo getting bought out lately, but most traders thought it was pure bullshit.

Look at Yahoo's share price this morning, up 45%. Closed at $19.18 yesterday, hit a high today $29.83 (so far). Chic-chinggggggggggggg!

Bush Boosts Defense Spending in $3.1 Trillion Budget (Update5)

Feb. 4 (Bloomberg) -- President George W. Bush sent Congress a $3.1 trillion federal budget that trims Medicare and health care programs, boosts military spending and projects the deficit this year and next will hit near-record levels.

The budget blueprint for fiscal 2009 slows the rate of growth in spending for entitlement programs such as Medicare for savings of $208 billion over five years. Pentagon spending would rise 7.5 percent to $515 billion, the 11th consecutive year of increases. Programs in the departments of education, interior, transportation, justice and agriculture would be reduced.

http://www.bloomberg.com/apps/news?...3VeY&refer=home



pfffft, someone get this guy out of office before our economy goes bankrupt

http://www.sfgate.com/cgi-bin/artic...3/IN8LUO095.DTL

STIMULUS PLAN A SCAM TO BENEFIT THE RICH

2008-02-04 � sfgate.com

' It's like some sort of upside-down communism where the poor pay the rich welfare. Why should taxes from families earning $48,000 a year be used to support expensive mortgages in New York, Los Angeles and San Francisco? Welfare for the hungry and homeless is evil, but welfare for million-dollar homeowners facing a tough refi ... well, that's called "helping the economy."'


the saga continues.

Fed's Use of 'R' Word Keeps Stocks in the Red

quote:

Stocks tumbled Tuesday after an unexpectedly sharp contraction in the U.S. services sector and comments from one Federal Reserve official that a "mild recession" is possible.

Nothing to see here folks, it's only a possible mild recession.

quote:

Originally posted by djGT Fed's Use of 'R' Word Keeps Stocks in the Red Nothing to see here folks, it's only a possible mild recession.

yeah, i like their attempt at a positive spin on a recession.

quote:

Originally posted by HotDogWater

^ tool.

quote:

Originally posted by ninetyninej yeah, i like their attempt at a positive spin on a recession. ^ tool.

made me feel like lighting up a marlboro mild

so wall street is expecting at least another 25 basis point cut before the fed meet. so expect another cut this month. we are headed into a recession and i dont say that because of research but i say so because wall street says so. whatever wall street says happens. 'cut the rate' they cut it. 'help' stimulus plan.

i am in the finance field and a wall street type of guy but there comes a time when things are just wrong. why does the fed/government help people who just made bad business decisions? its business and its risky and if you cant deal with that then get out of it. people need to be more responsible. unfortunately alot of people are victims of such mistakes businesses make.

You are correct, A baseball bat is a proper tool for beating a dead horse.

In any case:

quote:

I'M GOING TO DISPENSE ADVICE ON A FORUM THAT MAY CAUSE PEOPLE TO MAKE RASH, FINANCIALLY UNSOUND DECISIONS!

Nevermind that this is a completely wrong forum for the type of discussion, if I wanted financial advice I would be asking a broker that has more years experience in their field then some of you have had in your entire working life or i'll go read investorgeeks.

So, go ahead and post links to more articles we probably won't read.

In closing, please vote. Also, keep your pets spayed and neutered.

quote:

Originally posted by |Thrax| if I wanted financial advice I would be asking a broker... So, go ahead and post links to more articles we probably won't read.

this is not a financial advice thread, its largely opinions about us being in or at the very least heading towards a recession and other related economic issues.

in fact, anyone who makes their financial decisions based solely on a thread on tranceaddict is definitely a tool. so i'd sincerely hope you'd consult someone or do your own research before making any moves.

oh and this one is for you buddy


US Service Sector in Recession - Eurozone is Fading Fast

2008-02-05 � blogspot.com

Wonder how the bobble-heads on CNBC are spinning this one.

http://globaleconomicanalysis.blogs...n-eurozone.html

Vegas got pwn'd in December.


http://money.cnn.com/real_estate/zip_code_foreclosures/

Foreclosures: 100 worst hit zip codes

Where the mortgage meltdown is having the heaviest impact.

By Les Christie, CNNMoney.com staff writer
February 5 2008: 10:40 AM EST


Rank Zip City State County Default Notices Auction Notices (REO) Total


1 89031 North Las Vegas NV Clark 368 285 88 741
2 89131 Las Vegas NV Clark 304 289 72 665
3 89148 Las Vegas NV Clark 315 226 73 614
4 89108 Las Vegas NV Clark 303 232 38 573
5 89052 Henderson NV Clark 247 187 50 484
6 89139 Las Vegas NV Clark 246 159 71 476
7 89129 Las Vegas NV Clark 235 192 46 473
8 95206 Stockton CA San Joaquin 268 56 143 467
9 48228 Detroit MI Wayne 88 220 145 453
10 89123 Las Vegas NV Clark 243 159 46 448
11 89147 Las Vegas NV Clark 220 167 50 437
12 89110 Las Vegas NV Clark 243 155 36 434
13 89117 Las Vegas NV Clark 234 158 41 433
14 33971 Lehigh Acres FL Lee 359 43 29 431
15 89141 Las Vegas NV Clark 200 190 41 431
16 94565 Pittsburg CA Contra Costa 237 74 119 430
17 89128 Las Vegas NV Clark 216 170 40 426
18 89122 Las Vegas NV Clark 228 144 39 411
19 89032 North Las Vegas NV Clark 215 150 43 408
20 89149 Las Vegas NV Clark 208 161 38 407

Listen, I fucking hate money, financials and shit. So, why am I even reading this thread?

I don't know, but this is the perfect quote of the day. So, I guess it works out in the end.

Quotes of the Day
The only function of economic forecasting is to make astrology look respectable.
- John Kenneth Galbraith

Like I said, its only a recession for the poor saps in the credit biz. People are horrible with money, and in my opinion, they did it to their goddamn selves.

quote:

Originally posted by |Thrax| Quotes of the Day The only function of economic forecasting is to make astrology look respectable. - John Kenneth Galbraith

Touche.

Why are you putting ninetyninej on blast for discussing the issues of our economy? I wasn't going to say anything at first, but now you are just being ignorant. Who cares if we are OFFICALLY in or not in a recession, but the point is that our economy is a reck right now...

quote:

Originally posted by |Thrax| Like I said, its only a recession for the poor saps in the credit biz.

Have you taken economics? That comment right there shows the lack-of knowledge behind your previous posts... you're just posting to be negative.

I will try and make this simple for you...

Credit crisis -> sinking housing market -> consumer spending tanks = A LOT less money being put back into our economy

See it affects more than just the people in the credit biz, it affects our whole economy.

quote:

Originally posted by |Thrax| if I wanted financial advice I would be asking a broker

"I invested into this company because my broker told me to..."

wow i love how this thread has degraded into a team pissing contest because some people think they are so right they are beyond explanation. in the end no one cares how right you think you are, only how big of an ass you look like. so grow up. if you don't like this thread, practice some self control and don't click on it. simple as that. if you think someone is wrong, try proving it for a change. and someone please please please explain to me how a recession only occurs in one sector of the economy? i must be an idiot.

I was in a bad mood, I felt like derailing a thread. My bad.

sorry,
canihastruce?

"All animals, except humans, know that the primary business in life is to enjoy it."

Samuel Butler

(Thanks to Coffee Bean on Sunset Blvd. for enlightening me this past weekend, this quote was on their chalkboard while a bunch of frantic people were running around distressed over not having their coffee within 30 seconds...)

watch the dow slump tomorrow morning. i wonder if the fed will cut the rate tomorrow

Big layoffs no longer limited to finance, housing

quote:

The potential for mass layoffs this year no longer seems confined to just the financial services and housing industries now that major companies in other sectors are starting to announce cutbacks as well. Economic growth ground to a virtual halt in the fourth quarter�the Commerce Department reported a mere 0.6% growth rate for the last three months of 2007, well below expectations�and more companies are now poised to tighten their spending and search for ways to slash overhead (see the related story on this page). With concerns that consumer spending will wilt as we edge toward a recession, some observers say that a wave of corporate layoffs is coming in the not too distant future. �It�s unavoidable,� said Peter Schiff, president of money manager Euro-Pacific Capital. �Corporations are going to have to get leaner, and there are going to be a number of layoffs throughout the year.� While a number of banks, led by Citigroup and Bank of America, have already revealed plans to lay off thousands of employees, companies such as Yahoo, Lockheed Martin and Home Depot announced last week that they would be reducing their head counts by 1,000, 850 and 500 employees, respectively. At the same time, layoffs also started to creep into the picture at retailers such as J.C. Penney and Eddie Bauer, where officials said last week that they would be cutting several hundred jobs combined.

Two Fed Officials Say Inflation Remains a Worry

quote:

Two Federal Reserve officials said inflation remains a major concern at the central bank, suggesting that could prevent the Fed from making further interest rate cuts. Although the weakening economy is a big concern, "we must not lose sight of the other part of the Fed's dual mandate -- which is price stability," Federal Reserve Bank of Philadelphia President Charles Plosser said. The comments were not surprising, particularly since Plosser is known for being more apt to argue against a rate cut than other Fed members. Still, they echoed comments earlier in the day by Richmond Fed Bank President Jeffrey Lacker, who said policy-makers are worried about the possibility of recession but that persistent inflation remains a worry for the central bank.

Will they stop being so negative, the market doesn't like bad news!

Ron Paul FTW!@

quote:

Originally posted by |Thrax| I was in a bad mood, I felt like derailing a thread. My bad. sorry, canihastruce?

truce

quote:

Originally posted by djGT Big layoffs no longer limited to finance, housing

good article, damage has definitely extended beyond just realtors & brokers.

quote:

Originally posted by Dilmeet Ron Paul FTW!@

+1 but now that he is out, Barack has my vote.




http://www.cnbc.com/id/23031776

Euros Accepted' Signs Popping Up in New York City


2008-02-06 � cnbc.com

'In the latest example that the U.S. dollar just ain't what it used to be, some shops in New York City have begun accepting euros and other foreign currency as payment for merchandise.'




http://money.cnn.com/2008/02/06/rea...sion=2008020610

Troubled homeowners: Can't pay? Just walk away

More and more borrowers are watching their house values sink while the cost of their loans skyrockets. What to do? Skip out on the mortgage all together.

By Les Christie, CNNMoney.com staff writer
February 6 2008: 10:21 AM EST

NEW YORK (CNNMoney.com) -- Mortgage payments are set to jump. Home prices have plunged. "I'm outta here."

Homeowners are abandoning their homes and, more importantly, their mortgages, rather than trying to keep up with rising payments on deteriorating assets. So many people are handing their keys back to lenders that a new term has been coined for it: jingle mail.

Anyone get these in their emails? This one was from Lisa Wili-Simmonds at Tarbell in San Clemente.

quote:

�6 reasons to buy a house now. Yummy choices in the candy store and the line is short� 1. Best choices for buyers right now. So many homes for sale and taking longer to sell. 2. Interest rates are at historically low rates. Low rates make it easier to qualify and affordable payments. 3. Historical data suggest continued appreciation for home prices. California median home prices have been steady and rising. 4. New public awareness and education campaigns on lending. State and federal agencies have created protection for buyers. Home ownership with less financial risks. 5. Less pressure on buyers with less multiple-offer games. In 2007, California Realtors reported only 28% of sales had multiples, compared to 57% in 2004. 6. You don�t know the prices have hit rock bottom until they go back up. Time to get off the fence.

What a crock of sh*t!

quote:

Originally posted by djGT Anyone get these in their emails? This one was from Lisa Wili-Simmonds at Tarbell in San Clemente. What a crock of sh*t!

no shame at all, lie after lie just to commission

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