I bought 20,000 Synovus Financial Corp. [[SNV]] @ $12.75, 20,000 Citigroup Inc. [[C]] @ $20.10 and 1,000 [[SRS]] @ $72.34.
UPDATE: I bought 20,000 Interactive Brokers Group, Inc. [[IBKR]] @ $21.62. And, I bought 10,000 SNV @ $12.71.
Disclaimer: If you buy the above stocks because of this post, the government will arrest you for being an active short seller. And, you may lose money.
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Broker A
good trading and congrats on the reversal
some clarification on the gov’t move…if the gov’t owns fannie and freddie and buys the bundled mortgage cdo’s from the other banks, doesn’t that mean that the feds own the same mortgages twice?
Seek2k
The CDOs on the bank balance sheets are separate from what Fannie and Freddie own.
PSA: All stocks in the DOW, S&P & Nasdaq will now be placed on the CANNOT Short List. And if the Russell 2k don’t end up 5% on the day, we’ll add that one too.
Thankyou, you may go back to your FREE market trading.
As you were.
I understood that the cdo’s were created by fannie and freddie and sold to the banks
FLY-
Is solar dead? Im looking at ESLR down at these levels and wondering with the election coming up if this is a good or bad idea? Dems win, alt. energy stocks have to go up.
Would you fuck with it?
If you’re buying SRS, I’ve got some I’ll sell you. Cheap.
Thanks for the update.
Is it true that GE was just added to the no short list?
FLY
run a screen quick
GE just got added to the non-shorts
find large-cap industrials with significant credit exposure, they are gonna get added to
GE is getting added due to GMAC and ResCap exposure
Auto companies next due to Ford Financial/Chrysler Financial??
This is fucking retarded.
sorry that post is not coherent, my trader brain is working in overtime. but the logic is solid.
looking at buying F
Whats happening to SKF ? How will they survive now that the no shorting rule has gone into effect ?
Apparently they cannot create new shares. The existing ones trade. NAV and market price get out of wack depending on supply and demand. Just a guess.
I managed to sell my SKF shares today and I’m not looking back, have to look forward.
boca:
SKF: Good for you.
Thanks Zen. Even with my loss on SKF, I’m still up for the day, crazy, no?
I’m awarding Fly The Comrade of the Week Award per this memo just received from Comrade Hank ‘Overlord’ Paulson.
I’ve got such withdrawals this morning from being banned from short selling I’ve shorted both our cats, our nanny, and our oatmeal dispenser.
My wife is so pissed right now.
FUCK EVERYBODY
look at it this way. Supply and demand means that with no new shares of SKF becoming available, the existing ones will become more valuable as time passes.
that’s just common sense.
Anyone hedging with SRS besides FLY/
Careful Fuckers … there’s no guarantee this bailout is gonna be done by Monday. If congress starts fighting over this shit, the market will collapse next week. Bank on it!
As for me, most of my money is parked. Fuck this shit.
Oil prices down 33% from July? Check.
Downside risk to the Dow and financials eliminated? Check.
Republican ticket in need of a boost? Check.
OK, boys, it go time for Iran!!
Now CIT has requested to be added to the DONOTSHORT list.
Fleck was just on on bloomberg blowing off some steam 🙂
Bot.300 DGP and Bot.200 SLV
I am – but got out of the broader market hedges already…
Anybody see higher interest rates coming up?
A little Chinese payback for Bush’s comments on their human rights record during the Olympics?
I can’t eat cheese anymore.
And here’s what I see next year: Asia will be banking coin on dog exports to the western hemisphere (Brazil excluded).
Cheese-covered dog.
Get used to it.
Donny is right,
I will keep my powder dry. Anything could happen over the weekend.
This seems like a bail out free for all. Every congressman in every district will want a piece of lady liberty‘s ass.
I have a few limit orders.
Fly what up with SNV?
Fly what your opinion on FTK
sniper6 deballed on C short? check
considerable equity tied up in SKF? check
egregious market fuckery? check
margin call? pending.
Time to call in the dogs and piss on the campfire. Off to buy a quart of cheap gin, dump it out, and smack myself in the head with the empty bottle.
Can I short pig shit? I have too much on my lot and need to short it to someone. If Paulson won’t let me short it, then I’ll dump it on Treasury’s doorstep.
HIX, HIO, HYT … timely buys before milking my cows yesterday. Closed-end funds where discounts to NAV moved from 10 up to 25% in last couple days. Nuts. Up 13,14,15% today. But, bet discounts still far too wide. Could still be decent buys.
Since everyone is asking Fly for an opinion ….
Fly whats your opinion on what I should eat for lunch today ?
I was thinking of a Ruben or corned beef sandwich. But the thought of a big burger with fries is tempting too. Any thoughts ?
Dry ruben with dill pickle
FTK works here.
Oil is going up.
TYVM FLY
Donny,
You are right about Congress. But as Santelli pointed out, they will probably be scared about getting blamed for the market going down next week. In my letters to my reps and senators, I have implored them not to be scared by Comrade Paulson’s scary stories. At least read the fucking legislation!
Anyway, nothing is written in stone yet.
http://www.senate.gov/
http://www.house.gov/
We all rag congress, but they do listen when people stand up. And they truly don’t understand the markets; we are not doing our jobs as citizens if we don’t educate them and tell them how we want them to vote.
For the record, this is not about my accounts (which are doing well thank you), it is about our country.
Fly has been busy watching Zapata George videos, and knows when the oil has run out.
http://www.youtube.com/watch?v=FtfJPD9sCUE
SNV’s gap was filled and it’s headed down. I don’t care if it’s on the no short list. You can still sell it if you own it. Many sold to get out of the POS today and realize they got a gift which lasted about 45 minutes after the spike open. Did you check the fundamentals? They suck! I think you out smarted yourself on this one. The only buy you made today that I would have made is SRS which I plan to buy on Monday to go along with my SPG SHORT. BTW, my DXO is doing great UP 20% from my buy. We need oil again since the bushman and paulson have saved the economy for real this time…NOT! Oil to $115 and DXO to $18 and I’m out! Fly have a great weekend and then dump SNV on Monday.