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TranceAddict Investors Club @ Marketocracy (pg. 102)
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| Krypton |
| NIce I'll have to bookmark it.. |
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| mndeg |
OMG. This thing with Lehman is crazy. I've never seen such blatant market manipulation with such a well known stock/company.
I've seen 3 rumors now posted on the wires multiple times citing unnamed foreign person only for them to be denied from the companies themselves. First it was consortium of Korean banks along with KDB (I posted about Dick Bove pump a week or two ago), the consortium said they weren't even looking into LEH, then it was HSBC who denied it the next day, today it was Mitsubishi UFJ Financial Group, who denied it the SAME day after close.
This is ridiculous. Truth is they can't even find anyone that wants to take a stake in Lehman or even buy Neuberger at non inflated pre-collapse prices. At this rate they won't be able to survive another quarter.
I'd also like to add that Dick Bove used the phrase "hostile takeover" when logically there is close to no chance of anyone wanting to take over LEH in that matter when they can simply pick up the remains for a few cents on the dollar. That's what happens when you take losses while massively over leveraged.
BSC went out at $2/share WITH government backing. It's book value at the time was 90/share.
In the latest Mitsubishi pump they quoted the company saying that they were looking to pick up the remains of LEH after they reported earnings, but that was completely denied meaning that they lied about them saying anything at all. |
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| Capitalizt |
| quote: | Originally posted by mndeg
If anyone goes short FED here you can't go wrong.
Look at UNG totally collapsed.
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For the record, I bought the crap out of UNG, SA, SLW today.
This commodity correction is way overdone. |
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| mndeg |
no such thing as way overbought or oversold when large hedge funds control the price. the collapse of a few hedge large hedge funds have been attributed to the large drops in commodity prices. goldman sachs is also rumored to have large commodities trading losses.
can't really go wrong with buy and hold though
i want to be long oil when it turns around. peak oil is real. supply is strained and demand will always be growing. |
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| Moongoose |
| Im playing with a new fund now, much more diversified than MMF (MET1) and in the last two days i went from 10.30 something NAV to 9.75. Damn UNG, EXM and GLW. |
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| Krypton |
| quote: | Originally posted by Moongoose
Im playing with a new fund now, much more diversified than MMF (MET1) and in the last two days i went from 10.30 something NAV to 9.75. Damn UNG, EXM and GLW. |
EXM and GLW have beat me down too. But I'm staying in long term. |
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| Capitalizt |
| zomg, wtf happened to GLW? Looks like they cut their revenue estimates a little but nowhere near enough to justify this price collapse. I'll be buying tomorrow. |
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| Moongoose |
| Do you think that they will go any lower than where they are at right now. Im wondering if i should put some more money in them now that they are cheap. |
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| Groundhog Boy |
| quote: | Originally posted by Capitalizt
zomg, wtf happened to GLW? Looks like they cut their revenue estimates a little but nowhere near enough to justify this price collapse. I'll be buying tomorrow. |
I thought that way after the 12.5% drop in ACI yesterday. So I decided to pick it up and lose 10% more today. And they didn't even cut estimates. |
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| Krypton |
I say go for GLW...
Hold for at least 3 years though... |
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| mndeg |
bahaha i still have my sandisk puts spent 1430 worth 4830
still waiting on lehman to go bk or dilute to nothing.
Vix is heading up quickly, may signal a change of trend for the next few weeks. S&p 500 also broke major resistance. it was going sideways since 8/11 |
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