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What's even worse is that CFC has had a $2.5 billion buy back to prop share prices up while he sold ($1.5 billion was done by the end of Nov 06 and they expect to finish the buy back by spring 07) . Where did they get the money for the buy back? They borrowed it. Nice way to execute your...

Options & futures, no FX.

Buying the underlying against a put position on pre open gaps and selling a few hours in to the trading day has worked well on CFC so far but I think that game may be up. Not buying it today. Good luck all.

The point about Enron was that big money was still buying it even when the smart money was clearing out (just giving another exmaple to back up the point that I was making in that post), not that CFC is another Enron, I have said quite clearly that I don't even think it is another NEW, that is...

http://www.marketwatch.com/news/story/subprime-mortgage-problems-may-spread/story.aspx?guid=%7B664D15E5%2D33EA%2D41AB%2DBAF7%2D116BBF929245%7D Moving on up

It can be done. Last year I started with 100K and endded the year with well over $500K. Good luck.

There is a program on NPR Boston about the down turn that is worth listening to. Things are not looking good and the take away is that we are at the beginning of this ride down, nowhere near the bottom. http://www.bostonchamber.com/programs/tapedprograms.asp Tonights show live now...

You can see what these types of places are selling for, in MA for example it looks like the ones that are selling are selling at a 15-20% discount. The problem is that even at this discount they are not selling much. I think this is why those in the know are talking about things getting worse...

Between 85-91 they sold a lot of gold to cover their deficit. Is this the time period you are referring to or are you talking about the currency crisis of 98? This might be of some use: http://paulvaneeden.com/pebble.asp?relid=185

If you can't beat em, join em.

Brings to mind the deep pockets who were buying NEW between 15-20 in the last few weeks. Now I am not saying that CFC is another New but I am saying that with rising short term rates and subprime origination gone and insurance on everything increased their margins and loans are going to shrink...

http://countrywide-foreclosures.blogspot.com/ Compare what these are being sold for and zillow estimates to get a sense of how much worse things are in reality than the estimates from zillow might seem to indicate. Inventory is rising. Looks like CFC didn't convince too many new buyers at...

The way to trade this market (asuming you are expecting it to move significantly one way or another and that you have an index day trading edge) is to choose your bais long/short and buy calls/puts on your instrument of choice and then day trade the fut against your option position (you want to...

Since this was a noteworthy trade (for me anyway) I decided to contribute it to this thread +216K from defined risk of 32K long Yen fut calls.

Closed GE short +0.7

Closed EEM short +12.53

Closed last 1/3 Yen +389

This excatly why shorting the EMs in a situation like this is more profitable than shorting US indicies. This is all about risk aversion and the money is going to come out of the EM and come back to the US. Everyone is looking for 10-15% correction in the US but 30-40% in EMs.

Downgraded by Lehman, 1st of many I shouldn't wonder.

Only a $250 million hit but think that they are going down as their two new phones are practiocally being given away and margins will be killed even if they add subscribers.