Long 10,000 [[LDK]] around $7.60 into the bell, a Ragin’ special.
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Joined Nov 10, 2007
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Some Dude is curious to see how this pans out and sold ISIL close to $13. Long live the fly.
I am first but have stage fright….
The God FLY is…is that right?
I got me the 7 1/2 calls expiring next Friday. Should be a fun ride!
What’s the word on this son of a bitch?
SFLY high of day close!!
Bravo!
TSL
I enjoy reading the Fly’s take on the market. It’s the majority of the idiot posters on here that make me want to kill someone.
I’m thinking the avg age of the Idiot Poster is 22, the avg IQ is 80 and the avg trading experience is 4 days and an avg. trading account of $811.00
bad buy. not buying ldk until its over 7.85. and tight leash until over 8.5
Apologies if this has already been posted re SRS:
http://online.wsj.com/article/SB123914790506498993.html
And no making fun of the writer’s name.
Some Dude not only speaks in 3rd person but is also typically a leader. However every good leader knows when out classed. Hence I have once again blindly followed “Scooter” in LDK @ 7.74. (Small position) Let’s see what happens.
P.S if you don’t know who/what scooter is you haven’t read this blog in its entirety and I hope someone pitches a fastball at your face.
I tried to go long LDK on the open at $7 today, stopped out. look at that they would make me wait all day for that pop I knew was there.
LDK is my old nemesis. very first trade I ever took on my daytrade account: made $600.
LOD to HOD perfect.
after that I learned the art of losing money. the bitch fucked me back in the seventies. made it back, same bitch.
@anton
considering the whispers of “CRE is going to get fucked” going around, many good americans would like to prevent that. the loans are longterm, they will find time to work out a good deal of them and get financing carried forward.
I no longer expect a heavy crash. nobody is in a greedy and aggressive move to attack them that hard. honestly I think the era of aggressive shorting is over for the moment. (shhh … don’t tell the fly)
but the market should trade the weaklings down. that’s its job.
its tricky work watching all the financing. and its a crowded trade. as somebody mentioned : everybody is watching the candlesticks and jerking about. that makes it a hard trade. too many nervous fuckers trying to make cash.
OTOH I made my living thru NY real estate building websites for those fuckers. making them look good. it really pisses me off that people that stupid can make more money than me. many of them are US born and still cannot type a sentence in English. for that reason alone I would like nothing more than to bank by their demise. that and building all these hideous structures with hideous names all over and destroying the city.
Arth,
I hear you, but it seems insane to me to loan money to these guys so they can hold on to what were — and what will be for YEARS — overpriced RE assets. What’s their plan for getting tenants? Is the plan to just leave the space empty for a few years? There are still entirely empty office PARKS around Boston that have been that way since the dotcom bust. And in places like Florida, if you leave space empty and un-air conditioned for a summer, you pretty much have to gut the interior because mold and shit will make it unihabitable.
So what’s the real “value” of these “assets” that are rotting the whole time you’re paying the mortgage on them? I guess whatever the bank says they’re worth, now that mark-to-market is “baaaaaad for the economy.”
I did expect that eventually there would be pressure from state and local gov’t for federal help in preventing downtown areas/city and town centers from all looking like Detroit and Baltimore. But shoveling cash to the CRE developers and owners seems like the most expensive and inefficient way to do this.
So are the REITs supposed to pay dividends with this loan money so they maintain the illusion of being investment-worthy? I mean, WTF?
We, the taxpayers, are contributing to a Ponzi scheme that, to completely mix metaphors, will keep the patient on a ventilator, on life support, but with absolutely no real prospect of ever getting healthy again.