Quote from Manolo:
Good point waggle. About as coherent as when you tried to take my comments on this thread out-of context, until I put a stop to that.
I can easily argue with mecro. Lets see, LEH is +.80 and MER is down -.75. Now let's go back to my statement that even if there are blowout numbers, I believe the charts want to trade down. Only an idiot, well I guess that would be you, would dispute this. Must I go back to my quotes that are still on this thread?
Has anyone heard a dumber quote than this "you can't argue mecros statement because you aren't trading them"??
Why don't you tell that to all the CNBC broadcasters, and everyone else who may be interested in stocks, but not trade some specific stocks. Yes, I didn't trade the brokerage stocks today, but that doesn't make me any less qualified to analyze them.
To the contrary, my 10 year track record of superior trading makes me very qualified to talk about trading. Not to mention my unbelievably accurate call last sunday, when the S&P was at a 52 week high of 1157, that we were about to see a significant correction. And not to mention all of my great calls on ET.
Oh boy...you must be a horrible poker player. I've punk'd you so many times now. You're the easiest fool on ET to bait.
Look man you do not trade, we all know that. We also know about your aliases so stop pretending. As for your calls, you make numerous calls and then focus only on the correct ones. Counting your aliases, I think you are maybe 30% correct.
As for your comment about the financials, let me educate you. First of all, specialist manipulation has a pattern of bunching up pre-open buy orders and filling them at the highest possible price with personal stock (before setting off real seller stops). Then as the specialist absorbs incoming buyers and trends the stock down, the sellers hoping to get filled have to start coming down & down & down. And there you go. This happens more than 50% of the time and I am not at all surprised that it happened today.
As for Lehman "blow out" numbers, I'll put it bluntly: "BULLSHIT". Lehman always seems to beat the estimates but then in general this firm is so full of it. In spite of their continued success and their corporate propaganda, Lehman still fails to get the true respect of Wall Street because people talk and the truth comes out. Lehman is extremely cheap & petty and I know that their EPS actually consists of significant cost savings & outsourcing (cough..fake numbers..cough) instead of just great fixed income performance as they claim. If you only had a clue of how badly their support departments run, you would know what really goes on in the company. Their manipulation of expense & employee compensation reporting is enough of a hint that things are not kosher at Lehman.
I traded LEH, MWD, MER, NMR & SCH today because of the news. I do not touch GS and kinda didnt have time for BSC. Unfortunately in NYSE intraday world, the specialist not the fact most often decides how you will position yourself. LEH traded like shit, SCH & NMR was stagnant, MER is suicide. MWD is the only one I thought traded nicely. If I only knew how much that stock was gonna fall, god if I only knew. I was actually short MER, MWD, LEH & SCH at one point, but only stuck through with MWD & SCH while taking losses on the other two. Another example of how specialist abuses makes you take losses while you are on the right side.
You said the stocks were unchanged. No actually they were selling off/being manipulated. As a real trader, I do not use CNBC terminology to call a stock up for the day which has been trending down off since the open. All I said in retort is that there is more than meets the eye. You do not even know how to interperet the numbers or why the financials had a downtrend. You made a call that had a 50% chance of being right and you did not even know why you were right. Did you even take a position? Did you even try to scalp the first 15 min up move and then take a hour+ short & hold? No you just make bullshit calls and pretend to papertrade.
I don't come and make random calls left & right because I actually trade and unless I plan to take the position for sure, I wont say anything. I actually have wanted to take overnight shares long in all of the financials (which is actually about 10 stocks) on Monday at the close, a decision I started contemplating on Friday. But this market has given me serious beating for over a week, especially on Monday, so I was scared and discouraged. Even if I did not get so badly hurt yersterday, I would have had at least LEH overnight.
