On the news that [[BAC]] will buy [[CFC]], prior to bankruptcy, the market is ripping.
My guess, the financials bounce hard here and follow through tomorrow.
I will look to buy back [[SKF]], sub $100.
This market is so damn volatile; my head is spinning.
NOTE: Short oil is still working well.
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Where were you in 1998?
Fly was in high school in 1998
Actually, he was a fry cook at Denny’s
I was on the verge of greatness.
The Fly was under my tutelage back then, asshats.
Too bad. You missed the chance to learn what volatility is. This ain’t nothing.
Oil prices hanging around the 50-day. I’m holding off on DUG until a definitive break below that. Double inverse gives me time to catch up on the slide anyway.
Yes, I am a lazy chart chomper.
I was in the business retards.
I’ve been investing since 1994.
One day doesn’t make a trend.
Stop it.
how you feeling on that fxp?
Feeling fine.
Thanks for asking.
WM doing almost as good as CFC! So Fly, I’m guessing you sold your CFC a while back?
You have to wonder who started those Countrywide bankruptcy rumors . Did they have inside info on the deal and start those rumors to buy on the cheap without spiking the price ? Hmmmmmmmmmmmmmmmmm….
Two days in a row helps the bottoming out process. Short covering and any good news on financials also. The market is looking for an excuse to go up. VIX down near lows like yesterday. We won’t rocket back up immediately, but it’s a start on the road back.
sold around $12.
This is Simon.
When the Fly says he’s been investing since 1994, he is referring to the curbside lemonade stand he started.
alias BPOE
It looks like the PPT is at work. My question is does China have a PPT? I will stay with QID. China is not to be trusted.
Fly, I think you’re getting fucked on your deal with the devil. Would you just take the bullet for all of us and bend over for warren? He’ll let you in on all the secrets.
Simon:
My first investment was your Mother. I bought her in a goat auction. I needed an extra goat milker.
China does have a PPT team. It has many assets at its disposal including millions of troops in the People’s Liberation army, nuclear weapons, and many Tanks and MIGs. One doesn’t mess with the Chinese PPT.
FXP getting fucked down here.
MOS ripping the face off of Shorticus.
‘tards.
Developing…
cfc-b at 16 bucks… i guess ive only recomended that about 8 times.. party time
Peepo flucktahded if dey bet against China. I tow you befoh, stupid Yankee !
An yes, do naw fluck wit Communist PPT, eadah. We stah idea in fiwst prace.
When is the fly going to buy some MVIS?
SLV turn and burn
big snacks,
Don’t see CFC going to BAC for more than $12.
BAC averaging down original cost of converts. They want a better price for all the aggrevation. That, and potential severance package for Mozilo, which includes a sold gold tanning bed.
FXP to zero.
If BAC paid anything close to $12 for CFC, A.P. Giannini would rise from the grave and suck the diseased brains right out of the skulls of the BAC management and board.
The die is being cast for more buyouts in the financial sector.
Revenge of the bulls for sure.
Hook’em Horns!
FXI to $200 wiew go, in mattah of days. Heah me now aw aahshatterly foh-evah you wiew be doomed.
And yet DRYS is still getting hammered. Hmmm
send Maria straight to NTRI, do not pass GO , do not collect $200
BAC averaging down on a shitty investment?
I must have missed that class in investment theory.
Bush had a widely reported meeting with Paulson and Bernanke last Friday.
Over coffee, I wonder if the topic of how disastrous it would be for a $200 billion bank like CFC to file?
If the topic did come up, I wonder if Paulson suggested Bernanke might want to give Ken Lewis at BAC a friendly call to let him know the FED won’t fuck BAC over by policy actions if BAC was still interested in acquiring CFC.
What a coincidence that the banks/brokers sparked yesterday’s massive late day rally. How interesting it came the day before Bernanke’s speech and news leaked that BAC may possibly acquire CFC.
guys IT DOES NOT MATTER WHAT BAC PAYS FOR CFC… the preffered is going to par… which is 25 bucks… thats why cfc-b is ups so much more than the common
Nothing like a rumor to get the markets moving…
odd no?
big snacks, you in CFC-B?
Amex pulling the big assfucc on the financials in the AH. AS I said yesterday,the retail was gonaa fistfucc the cows.. they did, but then the shitbomb from the Helicpoter and the Tanned One. BAC thinks it trickfucced the grizzlies, but when the fund boys are doing their next round of allocations, guess who is going to get tricfucced, Mr. Lewis. Did you just buy a shithouse with a 7% non performing portfolio. And that’s before the layoffs start rolling. Ken, i can dump the whole shit kiboodle in ten minutes, but you are going to have to deal with tens of thousand of REOs when the shit vaporizes on the fan within the next twelve. Longterm, you just made yourself the short of the year. And I friggin hate BAC anyway before, fucc u Lewis fucchole.
I’d say that the need to make the preferred shares whole is one more reason that BAC would be nuts to buy the whole of CFC.
Chuck Keating Says:”Where were you in 1998?” Gordon Gecko Says: “The Fly was under my tutelage back then, asshats.” Bill says: what, in PRISON? Was G.G. teaching the Fly how to toss a salad?
Re: the PPT: STFU and GTFO. We all have the same set of rules to play by, and whining like a girlie man about “manipulation” while you’re sitting in front of your six trading monitors, with your gelled hair and metrosexual exactly 1/8th of an inch of stubble, on your pleather chair, makes you look like a fucktard. You want a clean speculative game? Go back to Econ 101 and play it in FantasyLand.
Bill, you need to chill. No sense in popping a vein.