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Check out the intraday movement in the last two days. Big declines followed by big recoveries, then a sell-off in the final hour. Actually, the sell-offs start at exactly 3 pm. Could be interesting.

Are you serious? Let's leave the grudges to the schoolgirls. I shorted this one expecting the volatility from yesterday's close and today's open to persist. That hasn't been the case. As I wrote earlier, I'll hold on in case that volatility resurfaces, but will readily cover if it doesn't...

^ I'll be out by close of trading no matter what.

I won't be in this one long enough to pay your dividend, TR. Just hoping to shave 2-4% off the top and cover.

Don't remind me! :mad: Got out at 16.65. Volatility on AHM died pretty quickly. I'll hold for a while longer (stop at 15.25) in case a second attack is launched against it. Otherwise, wasted time and lost opportunities. :D

Balls of steel, my friend. Balls of steel. :)

If I'm not mistaken, you were the one that called the top on ICE. That was a thing of beauty!

Incorrect title. "Mortgage play of the day" is more accurate.

Nice trade. Promising downside potential for indexes today. Are you covering by close, or will you let it ride through Monday?

Just shorted this one at 25.12. Should follow the path laid out for it by its peers (AKA NEW, LEND, NFI).

So what you're saying is buy this one before it's too late, right? :p

Well, gee whiz blast. You got me there. Of course, traderich was making the case for NEW at 5.25. Moreover, if you find his case for buying NEW, NFI and friends compelling, then I imagine that your credibility matches that of a brain damaged donkey. JMHO.

^ Not to mention the drop in consumer confidence... http://biz.yahoo.com/ap/070309/ipsos_consumer_confidence.html?.v=5

Notice how the sheep are lining up to buy pre-market. IMO, a rude awakening awaits them. I'll be looking for some discounted short opportunities early on. Some have apparently forgotten that these numbers, while in line with estimates, are not the reflection of a rosy economy. It's also...

We are in a highly reactionary market environment ahead of the jobs data, so the activity today should (hopefully) be exciting and nonstop. Overseas markets in Asia/Pacific were mixed overnight while Europe is in red territory, though not by much...

Rising sub-prime defaults in the news, again ... http://www.bloomberg.com/apps/news?pid=20601087&sid=aC9LdDcv4.Wc&refer=home

Traderich, Out of curiosity, why are you so adamant in your defense of these companies? These guys are real losers. There are bargains and then there are suicide missions. Guess which one this is...

Just came across another job posting: Wanted: Lawyer with ties to organized crime bosses. Essential Function: Put us in contact with organized crime bosses. References required. Salary: stock options.

NEW will be down BIG. Lenders have cut the company off, effectively nullifying its business. http://www.bloomberg.com/apps/news?pid=20601087&sid=aItk2fsczSGI&refer=home The whole sector will suffer as a result, and I just closed my short in LEND. A nice profit, but nothing like it would...

The usual suspects: NEW, NFI, LEND Tomorrow will be ugly for these guys.