Goldilocks has effected a "soft landing" in the Cayman Islands where she opened an off shore account that's short the U.S. markets. As for Larry Kudlow, he's a brain-damged zealot whose "greatest story" incessantly told bordering on the delusional.
http://blogs.wsj.com/marketbeat/2007/11/09/four-at-four-cdo-losses-who-us/?mod=yahoo_hs
The JPM and BAC tidbits posted on "The Fly on the Wall" just before the market closed Friday so I sold GS and bought a few puts.
"A time-honored tradition among governments has been to release bad news late on Friday, ensuring it ends up only in the Saturday newspaper, the least-read paper of the week (back when people did such things like read newspapers). But J.P. Morgan, viewed as one of the more prudent when it came...
No, because it's a scumbag bush league maneuver to allege a MAC if there is none, and would result in a "material adverse change" not just to their reputations but also to their negotiating power in future dealings.
Anyone think there's further downside?
From the Washington Post:
"The $8 billion buyout of audio-equipment maker Harman International Industries collapsed yesterday, the first major private-equity deal to unravel since the current credit turmoil began and a sobering sign for other big...
So true. Unless you shorted it in 1999 when it was trading around $120 or so, YHOO is right up there with MSFT as one of the least interesting stocks trading. Waste of commissions.
A lot of high fliers sold off today. Bitch slapped by BIDU, personally....rumors of secondary, profit-taking, yada, yada...yowch. Triple witching's always tough.
I totally accept that I was wrong and the Fed funds were lowered by 1/2%. congrats to all who did well! And cograts to Atticus who won $20 form me. good trading! [/QUOTE
A lot of us were totally wrong. It was a vote, we voted, and some of us were just dead wrong. I think Ben's a pussy. I also...
It's interesting that BSC is selling off on LEH's news and that GS has almost no response at all. It's almost as though they're expecting an afternoon selloff.
Foreclosures are up 100% from last month, but BBY is raising guidance. Tell me how that makes sense. Screw the mortgage payment, let's go get a Wii. ??
Brokerages are booming, the consumer is spending, rampant commodities inflation, the dollar at historic lows---if the Fed cuts today I sure as hell am going to be interested to hear the rationale behind it.