Steve’s 401k plan is “hurting,” as per Steve, during our weekly garbage night chat.
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Joined Nov 10, 2007
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hahaha
You’re an evil fuck
nothing better than a little enron pie for everybody.
That’s dark.
Prosecute the Short Seller!
Throw yourself (and your bullshit 401k) off the balcony.
My platform shows futures down 2.5%?
Edit***
Tradestation. Never mind. I was looking at the wrong workspace.
What kinda platform you got?
PS: On an absolute return basis, my 401k is only up 3% this year. On a relative return basis, my co-workers are signing the deeds to their houses over to me tomorrow. God Bless iBC.
It’s made out of cee-ment blocks and it shares space with the copper still and clay jug.
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Hanging Seng down 3.5% btw. Nice call on the FXP pickup, Air Fly.
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need a new bubble?
http://www.theonion.com/content/news/recession_plagued_nation_demands
My 401k is up even more than my regular trading account, ironically due to egregious amounts of FXP and SKF in them for wont of shortable action.
Because you can’t “short” in an IRA/401k.
Thank you, pro-shares.
_
A shortage of liquid asphalt is occurring, in part, because oil refiners are concentrating on producing more profitable finished products from crude oil, such as diesel fuel, instead of asphalt, said Tom Peterson, executive director of the Colorado Asphalt Pavement Association.
http://www.denverpost.com/breakingnews/ci_9879699
can’t wait to sell my puts on ‘various’ cali reg banks for multiple ‘baggers’ in the coming day(s).
Too many motherfuckers, fuckin with my shit
[youtube:http://www.youtube.com/watch?v=Bqxnm6t3QMw 450 300]
From BOTD’s Onion Article:
Current bubbles being considered include the handheld electronics bubble, the undersea-mining-rights bubble, and the decorative office-plant bubble. Additional options include speculative trading in fairy dust—which lobbyists point out has the advantage of being an entirely imaginary commodity to begin with—and a bubble based around a hypothetical, to-be-determined product called “widgets.”
The most support thus far has gone toward the so-called paper bubble. In this appealing scenario, various privately issued pieces of paper, backed by government tax incentives but entirely worthless, would temporarily be given grossly inflated artificial values and sold to unsuspecting stockholders by greedy and unscrupulous entrepreneurs.
“Little pieces of paper are the next big thing,” speculator Joanna Nadir, of Falls Church, VA said. “Just keep telling yourself that. If enough people can be talked into thinking it’s legitimate, it will become temporarily true.”
Hold on a sec… isn’t that what got Fan and Fred into this current mess?
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Paramount forced to suspend $450m financing
By Matthew Garrahan in Los Angeles
Published: July 15 2008 00:12 | Last updated: July 15 2008 01:28
The credit crunch has hit home in Hollywood after Paramount Pictures, which has released a string of hit movies this year, was forced to suspend plans for a $450m film financing.
The studio has been working with Deutsche Bank on financing that would have provided funds for up to 30 films, including possible blockbusters such as the sequel to Transformers and a new version of Star Trek.
EDITOR’S CHOICE
Hollywood big screen in an instant message – Jun-29
MGM in talks as it plots new golden age – Jun-05
The Monday Interview: Daniel Battsek of Miramax – Jun-01
Regal to expand number of 3-D screens – May-20
Malone grants film studio liberty to act – Apr-24
Hollywood studios in web and TV deal – Apr-21
However, the bank was unable to close the financing because of a market-wide lack of enthusiasm for the deal’s senior debt component. Deutsche has subsequently decided to close its film finance unit and concentrate on other areas.
http://www.ft.com/cms/s/0/4b3eea5c-51f9-11dd-a97c-000077b07658.html?nclick_check=1
Fly (or anyone else),
Could you please tell me the best way to short the euro over the next 18 months. I know of the fxe that I could short, but is there anything else more aggresive/better? thank you, DW
You keep saying you’ve got something for me.
something you call capital, but confess.
You’ve been messin’ where you shouldn’t have been a messin’
and now someone else is gettin’ all your best.
These banks are made for failing, and that’s just what they’ll do
one of these days these banks are gonna fail all over you.
You keep lying, when you oughta be truthin’
and you keep losin’ when you oughta not bet.
You keep samin’ when you oughta be changin’.
Now what’s right is right, but you ain’t been right yet.
These banks are made for failing, and that’s just what they’ll do
one of these days these banks are gonna fail all over you.
You keep playin’ where you shouldn’t be playin
and you keep thinkin’ that you´ll never get burnt.
Ha! I just found me a brand new inverse ETF yeah
and what he know you ain’t HAD time to learn.
Are you ready banks? Start failin’!
DSB, that shit was funny enough for an embed…
“Mah transaction…. shiiiiit”
_
Thx. I suck at the internets.
Fly how is that Million in FXP doing……..Sweet and Dandy!
cheers
Hey, WOODSHEDDER IS ALIVE
And with a nice fuckin’ post
http://www.ibankcoin.com/woodshedderblog/index.php/2008/07/14/list-of-banks-more-likely-to-fail/
Actually, I’m more of a ‘301k’ plan lately.
Thanks to a job switch, I got to roll my 401k out of my bullshit Fidelity auto account into something I can fully manage.
Thus, I still have hope of having money for my ‘viagra-years’.
Fly jokes about stealing 401ks, IRAs, pensions. After the close yesterday, I walked down to the beach. There’s a guy a couple houses away who’s retired. He used to work at the NY Fed. He didn’t see this coming. His wife, who is a real estate lawyer saw something coming. He looked downright depressed after the pillage in financials lately & particularly yesterday. He had that look of a deer in headlights. He mentioned his retirement evaporating but he can’t sell here.
Pretty sad. This is playing out all over the US.
Another friends husband works at BKUNA. I saw them in the fall of 2006 when BKUNA was around 30 and I asked what he knew about short sellers claims. He said they had no problems there. The stock is now under 66 cents on its way to zero. He had 100k shares. Never sold one because he was a loyal employee. Retirement & his 2 kids education is history.
“Past performance is not indicative of future results”
What is this?
Some kinda sea shell party?
Sea horse?
Yeah, right.
RIGHT!
(Long FXP)
Banks start earthquakes in California to collect insurance and destroy all records.
Blow off top on SKF.
Capitulation initiated.
Short IBM .. its still up there and their business with financials is huge … just like ORCL giving it up on its financial biz exposure, IBM will follow
Juice, looks a bit like a head and shoulders top also.
I need the minimum work age lowered to ten right now!! Junior needs to start earning his keep around here.
Steve Leesman- Stop yelling at Becky.
I met Liesman. Very short, pudgy, chain smoker.
Very unattractive. Loves to seem superior to Santelli.
I was watching CNBC very early this am. Some anchor woman, Bertha whatever, was interviewing Jim Rogers in Singapore. She tried to accuse short sellers of ruining corporations & their stocks. Rogers told her if she thought that, maybe she should get another job.
I love that bow tie with an asshole!
jeeze with IBD’s cover and article, and with yahoo news “150 banks to fail”, and many other front page shit, it’s like they’re trying to recreate the run on the banks predepression.
JPM aparently started the rumors last time and had them posted on front page press of many of the papers he controled… not sure who’s pulling the strings this time.
Watch LEH in pre-market. Rumors about going private?
PS Please don’t prosecute me.
Even within employee sponsored 401Ks, there are options. My wife’s plan is with Fidelity. At the beginning of the year, I pulled everything out of the funds, and had it placed in money market funds. I was specific about getting money market funds with very very little exposure to mortgages. Her account is up for the year, due to the 4% interest she is getting. I know many many other people, my dad included, who have been getting killed because I could not convince them to go to cash.
Fly seriously, your trading lately has truly been godlike. Now RIG gets upgraded? Lets just hope VLY goes under and EWBC.
The last time RIG caught an upgrade the stock gave back all it’s gains at the close, and some more.
HDB Mothah Uckas!!
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(Hat tip to the Fly)
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I sent out a second “Warning to all family” email over the weekend to my aunt & uncles, bros & sister, cousins, etc. Not much response. Couple of jokey replies from my little brothers, mostly.
Did have one aunt call me about a specific stock they’d been holding a lot of since it was in the mid 80’s. It’s now in the mid 30’s. Bank related of course. I said “sell.”
Of course.
______
Skiffles @ $200.
Soon to catch POT, and smoke it.
_________
Ooop! Guess that Lehman talk was bullshit after all…
VIX will hit 30 today. KABOOOOOM!!!!!
How is long UYG working for you ? IDIOT !
the VIX will go to 40.
the SKF will go to 300.
there are about 4 people on wall st buying banks. everyone else wants nothing to do with them, and those foolish enough to try are using options. they’re going to be shorted straight down until these companies start buying back stock.
no stock buybacks or acquisitions? they’ll all be single digits.
i wonder how many 401k plans are still holding a bunch of banks? probably a lot.
enuf said
oh, one more thing
put on your {crash} helmets
holy shit Bernanke is gonna tank the market, listen to the synopsis of his comments
My thinking is that SRS is the next to blow to $150. With the turmoil in the banks, the real estate is gonna get fucked, again.
Hello stagflation (Gosh…who saw that coming?).
WTF am I going to do now?
It is DIAPER time!!!!!
The Fly is currently doing octopus arms on the phones.
Today is a day for assuaging clients.
My own broker just called me asking me where the bottom was going to be on banks.
lol.
_
everything is going to get torched. ag, steel, oil, gas, coal, tech – all going down fast.
i’d probably buy the SMN, if i were a gambler, because the SKF, SRS, etc., have been so heated, and the SMN needs to catch up. the volume on the SKF is ridiculous.
they’re even selling crude right now – lol @ traders on the run.
Next stop for the Cubes?
$42.20
Patrick better not worry about hair balms just now.
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vix 30.38 right now
LOL
President Bush: Important people ‘have confidence’ in the housing market
LOL
Dodd is asking intelligent questions.
Benrnanke is speaking truth.
Bush is an blathering idiot.
I’m all out of gas and grass.
Good fucking times 🙂
I’m lining up the fucking hit squad for any sellers of bank stocks.
so true.
“less on the solvency and more on the capital needed for these companies. “-bernake
WTF, this means he knows that theres no true reform.
I thought today would be a bottom ( not THE bottom) for a summer rally. I’m just not feeling it though. I think we need a drop to – 400 on the Dow. Get the VIX to 35+
What is going on with Lehman? Market is rallying. I think its a good idea to short the shit out of the pop off the lows here.
JakeGint: That’s awesome about your broker. LOL
Need to hire a Rocket Scientist? Look me up…
anyone watching pnc ?
Bush is an (sic) blathering idiot.
Maybe you could run for Prez next, then?
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Topper.
Shorted them yesterday on the breakdown past support.
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I’m lining up the fucking hit squad for any sellers of bank stocks.
I just rebid your “contractors” with my recent winnings.
Watch your back you dollar inflating son of a bitch.
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the obligatory oversold short covering rally
one of these will stick
tee hee, 69 Responses
I can’t stand people who hate on short sellers…
You know what I say to those people? FUCK YOU
The market experienced 8 years of innapropriate growth, based on lax lending standards and little to no oversight. I should be able to identify this inappropriate growth, and take financial advantage of the ensuing contraction.
We all got gamed… and the last one to the punch bowl to take advantage of the downside will suffer from natural selection. The strong shall survive, fuckers.