Bubble Ben and his say tomorrow

[jficquette]

Quote from piezoe:

Compared to Mr. Greenspan, Mr. B. is a breath of fresh air. But look at the mess he has been handed by Mr. G., who led the Fed to historic rate cuts to get his buddies elected, nevermind the eventual fallout. Now Mr. G. says he thinks "...the worst is over." Well, i regret to inform you Mr. G., but we still have 21 more months of the "worst" ahead of us, no thanks to you.

I agree. Ben is doing a great job compared to Greenspan who was a Joke.

John

 

[blast19]

Quote from stock_trad3r:

so much for 'bubble ben'.

Your comments usually make it sound like you heard news completely opposite of what everyone else heard.

 

[ByLoSellHi]

Greenspan is having the last laugh, at the expense of poor Ben.

 

[blast19]

It's time to let the bubble deflate...it'll take that other bubble with it...uh, oh yeah, Wall St. They'll just bankrupt the lenders(rightfully so), screw shareholders, and take the hit themselves.

People not thinking this will "spill" over into Wall St. are morons...maybe they don't have any idea about the MBS and CDOs.

 

[ByLoSellHi]

Quote from blast19:


People not thinking this will "spill" over into Wall St. are morons...maybe they don't have any idea about the MBS and CDOs.

http://www.bloomberg.com/apps/news?pid=20601170&sid=afjPo.6jgPE0&refer=home

 

[TM1]

Quote from ByLoSellHi:

No prob.


I'll sell it after they report their monster earnings.

Might want to consider selling it into earnings, the guidance could well be lower. Crack spread fell today, just a reminder that watching the intraday gyrations is quite necessary with oil stocks. The inventory report got pushed aside today, I'm thinking there will be renewed interest in those well below expected numbers by Friday.

 

[blast19]

Quote from ByLoSellHi:

http://www.bloomberg.com/apps/news?pid=20601170&sid=afjPo.6jgPE0&refer=home

A lot of the lenders probably didn't fully disclose the risk of their MBSs and that's where I think we might see a lot of pain hit the supposedly "high quality" lenders. Wall Street being sold a bunch of risky loans packaged as securities that weren't even given to people who could afford the indexed rate on them will not go over well.

I'm pretty sure a number of good Wall Street attorneys can claim widespread fraud if they find out that these lenders were selling loans that lenders knew were likely to be defaulted on in a dropping market.

The only way this would have worked is if the price of housing kept going up...just like Enron execs thought about their stock price!

 

[ByLoSellHi]

Quote from TM1:

Might want to consider selling it into earnings, the guidance could well be lower. Crack spread fell today, just a reminder that watching the intraday gyrations is quite necessary with oil stocks. The inventory report got pushed aside today, I'm thinking there will be renewed interest in those well below expected numbers by Friday.

I am going to watch it, along with RBOB, but I am trying to determine the critical level for crude oil regarding that crack spread.

I do know that Valero is trading at a P/E of 7, which is pretty remarkable.