Quote from flipflopper:
No the market is setting up for some nasty shit. Once this little rally is over and another shoe drops we will break those Jan lows and all the bulls that got trapped up here are gonna cause even more downside.
There are still about 100 bill in hidden write downs out there. Next shoe to drop is European financials then Asian.
Financials are hiding some shit but it will all come out in the wash:
Financials: Heard on the Street looks at the de-leveraging process by investment banks - WSJ
- WSJ notes that Wall Street banks are trying to reassure investors that they are reducing the amount of borrowed money.
- Notes that the amount of borrowing remains high as the amount of assets held by some of these firms is 30x more than their shareholder equity.
- Merrill's assets were 27.8x its equity in mid-2007 v 17.9x at the end of 2003.
- Goldman's total assets at the end of its fiscal first quarter were 28.2x total shareholder equity v 26.2x as of November.
- After Lehman recently raised $4B in capital its leverage ratio fell to 27.3x from 31.7x at the end of Q1.
- Notes that some Wall Street banks use an adjusted measure in order to determine their leverage levels and this may understate actual leverage levels.
Quote from hypostomus:
You know, it doesn't make any fucking difference at all what you think about the market. When a girl flops on her back and pulls her skirt up and her panties down do you second-guess her? You probably do.
Quote from hypostomus:
You know, it doesn't make any fucking difference at all what you think about the market. When a girl flops on her back and pulls her skirt up and her panties down do you second-guess her? You probably do.

Quote from jonbig04:
Damn right i do! ever heard of chlamydia? Its all good for your 15 minutes of fun with the chick. just like its nice right now being long financials. but pretty soon, people are going to realize that, fundamentally, nothing has changed with these over-leveraged companies....just like pretty soon, when you're taking a piss...you'll notice a little redness. financials are no more solvent now than they were a month ago...by the way you really should go get that checked out....
Quote from Rearden Metal:
Back in my player days, the very LAST STD's I was worried about were chlamydia & gonorrhea, as both are very easily cured with antibiotics.
Far greater threats include:
Herpes: Stays with you for the rest of your life, plus you're contagious 100% of the time- not just during outbreaks.
HPV: Nasty genital warts- ugly for males, potentially deadly in females as this STD is a precursor to cancer of the cervix (HPV vaccine recently made available, however).
Molluscum contagiosum: Umm... I've never heard of that one- It must not be very common.... Oh yeah?! You'll be forced to reconsider that notion, once your pubic area suddenly becomes covered with more little red dots than a Hindu temple congregation.
<img src=http://www.freesmileys.org/smileys/forum/hijacked.gif>
Oooops... sorry.
Quote from Rearden Metal:
Back in my player days, the very LAST STD's I was worried about were chlamydia & gonorrhea, as both are very easily cured with antibiotics.
Far greater threats include:
Herpes: Stays with you for the rest of your life, plus you're contagious 100% of the time- not just during outbreaks.
HPV: Nasty genital warts- ugly for males, potentially deadly in females as this STD is a precursor to cancer of the cervix (HPV vaccine recently made available, however).
Molluscum contagiosum: Umm... I've never heard of that one- It must not be very common.... Oh yeah?! You'll be forced to reconsider that notion, once your pubic area suddenly becomes covered with more little red dots than a Hindu temple congregation.
<img src=http://www.freesmileys.org/smileys/forum/hijacked.gif>
Oooops... sorry.