The Surf Report

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Quote from MattSF:

CFC borrows at 7.25% and this is a bullish development? Sell the pop.
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Well its better than the 20% that was being offered on their Dec paper a few days ago. I knew I should have bought that, didn't have the guts to pull the trigger.
 
Quote from marketsurfer:

your trade is looking good so far, vic. im holding the shorts here, although underwater at this time.

surf
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My best guess is that you would be better off closing it out here at 13346 and rentering tomorrow after the pop at a higher level. I think you are right that we will try and retest some lower levels of support (though probably not the low) just early.

Those premiums on Crox are fat, why not sell vert call credit 55/65 and use it to finance some OTM puts. Defined risk and still cash in if it plummets like you expect.
 
Quote from marketsurfer:

After consulting with my number 1 quant last night,
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Oh man, until now I wasn't aware that you were trying to short again! Why don't you consult me? I was going long all day in my journal and I actually missed staying LONG.

In the chatroom yesterday I predicted 3 days of rally after the 2 days of consolidation, because the daily charts look exactly like the first 2 weeks of March. That rally ended only when the market reached the upper BB....

P.S.: Fire your quant. :)
 
Quote from MattSF:

CFC borrows at 7.25% and this is a bullish development? Sell the pop.
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didn't BOA just tap the fed discount window today ??? and now this ??

damm does this smell like a disguised fed bailout or what !

--m
 
Quote from Mvic:

Well its better than the 20% that was being offered on their Dec paper a few days ago. I knew I should have bought that, didn't have the guts to pull the trigger.
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No it isn't. 1. CFC isn't lending, they're borrowing. 2. The yield exceeds 20% on the deal.

Where is the CFC paper marked? Please reply with tomorrow's closing mark, if you wouldn't mind.
 
Quote from MattSF:

No it isn't. 1. CFC isn't lending, they're borrowing. 2. The yield exceeds 20% on the deal.

Where is the CFC paper marked? Please reply with tomorrow's closing mark, if you wouldn't mind.
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I was talking about CFC's Dec 07 4.5 that was being offered a couple of days ago at what amounted to a 20% Yield To Maturity by a dealer. I don't know what it was bid today but with the news of the BOA deal my guess is that it is bid much higher, I 'll find out tomorrow.
 
holding all shorts here going into NYSE open.

please note: our time frame and parameters are not those of a day trader generally---remember, trying to catch monster moves--which was accomplished twice this year not time every gyration.

regards,

surf
 
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