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Markets are paying the price: Futures turning downward! http://www.marketwatch.com/news/story/us-stock-futures-turn-down/story.aspx?guid=%7B457D44B1%2D286D%2D4AD9%2D91DC%2DC18A43F95B2A%7D&siteid=yhoo&dist=yhoo

Glad I'm short sub prime going into the open!!! :D

Creditors pull the plug. Bankruptcy imminent. http://biz.yahoo.com/ap/070312/new_century_lenders.html?.v=1

Perhaps I was a bit harsh. :D

To eliminate any confusion about my opinion of such lawyers, I preface this post with the following: THEY ARE SCUM. However, the teaser rate loans behind many of the defaults today are purposely misleading. They turned home buying into a get rich quick scheme. They specifically...

Scary how deep the corruption runs... You've got underwriters issuing unjustifiably optimistic ratings on the companies they represent and have a stake in... You've got credit agencies maintaining investment grade ratings on securities that are well-below investment grade... You've got...

Greenspan Is Wrong: Yields Say Recession Risk Is 50 Percent By Daniel Kruger March 12 (Bloomberg) -- Alan Greenspan, who jolted investors by predicting a one-in-three chance of a recession this year, isn't as bearish as the bond market, where the risk of a downturn is even money. The...

Understood. I was confused by the original post. :)

And you learned of this how?

How has this stock been good to you? It hit its 52 week low on Wednesday and has since bounced back 0.40. Did you time your trade perfectly at the low? If so, you have the timing of a Rolex.

Very true. However, I don't expect the pricing issues to be resolved in the next 2-3 weeks, which is the time frame I'm looking at to exit the trade. This would be much more of a technical play than a fundamental one.

Just to add, if the downtrend continues, I'd allow around 2 weeks for my target to be reached, which should be more than sufficient if previous moves are any indication.

A daily, 3 month chart gives a good picture of SNDK's extended downtrend. Further, it seems to point to Friday's high (41.15) as the peak of its latest retracement, which falls well within the range that one might have expected. Come Monday morning, I think I'll take another bite out of SNDK...

I don't disagree that when the dust settles, there will be opportunities on the long side of this sector. But for now the market favors shorts. Some of these companies will go under as a matter of course, but I have no intention of taking them down to zero. Basically, I'm just jumping in and...

Talk like this helps too: Sub-prime defaults are "beginning of wave." http://www.bloomberg.com/apps/news?pid=20601087&sid=ae6vaLjTNitA&refer=home According to U.S. Federal Reserve Governor Susan Bies, "What's happening is the front end of this wave of teaser- rate loans that are coming...

As I've mentioned, I decided to maintain my short position in AHM through Monday at least, which contradicts some of my earlier posts. Allow me to explain. Obviously, I remain bearish on the sector as a whole and I am convinced that these stocks will lose more ground in the coming weeks. In...

Decided to stick with AHM through Monday and beyond. I'll supply my reasons a bit later. Good Luck!

Alternatively, it may just be a lost cause. :mad: :p :( :D

SLOWLY but surely. I'm hoping AHM crashes through the day's low @ 24.60. Hopefully, the steam picks up a bit then. Time will tell.

The meeting is taking place now?