Merrily Lunch is going to its brand fucking new book value of 29 smackers. What did they lose, like 15 billion or some shit? I think they marked down some of their notes to 34 cents on the dollar. What a joke. The only thing mildly entertaining about the [[MER]] call was all the fucking “F-bombs” dropped in it.
Aside from that, [[ABK]] is going to have its credit rating slashed. Well, gee-golly-wiz, about fucking time. Look for [[MBI]] and [[RDN]] to get cut too.
What does this mean?
Well, for starters, they will all go bankrupt, barring a bail out. Then, all of the fuckers who own mortgage backed notes, will have to write them down some more, following fresh rating cuts—post fucked MBI and ABK.
Essentially, it’s one heck of a domino effect that will decapitate the heads of strong headed bulls. Should you choose to ignore these issues, well then, good luck losing your capital.
With my money, I am going to load the fuck up on [[SKF]] and [[SMN]], ahead of tonight’s flurry of banking earnings reports.
Also, should [[FXP]] dip to the low 80’s, I’ll be a big buyer.
UPDATE: More vintage Cramer.
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Fast money trashed LEH last night. Whitney TIlson is shorting them to zero.
Watch for a fed move today. Either jaw bone or a cut.
IT doesn’t matter.
Will you go look at a chart of Fed cuts with market performance?
It follows the Fed cuts lower. It’s a misnomer to believe the market will sustain a rally, thanks to Fed cuts.
You’re delusional if you think we’ve hit bottom.
Fucker.
Fly,
How much more of these write down are there? These guys know this is real money and not just numbers on a computer screen. Wow a billion dollars is nothing to these guys.
Do you think market will bottom by march or is s&p going down to zero. When do you see bottom and possible some turn around?
thanks
I believe there will be a good rally, late Feb. to early March, after we’ve declined about 10-15%.
I didn’t say we’ve hit bottom . I said watch for ST bottom around today & shenanigans that will crush bears today. And I think the index lows may hold till March.
I also sold my ultra yesterday in the carnage .. Bot back some FXP already at 86 & 87.80 , far below sales around 95 yesterday
That said , I am fucking killing myself for covering MBI AMK MTG PMI .. why didn’t your time machine tell you to short those to zero?
Trading in ABK will be haulted before 11am. Look for a major down day across the board with a very very late day short covering. Then, Friday morning, the FED will come in and cut .75 basis points in the window and Fed funds.
If Im right, the fly has to send me photos of his wife in her LULU tight stretch pants. ahhhhhhh
Very Nice
A touch of the Line of Fibonacci at $74.75 for EWZ is not a gift from me, my children…
It’s a gift from Zeus, himself!
will that be the end of this terror???? Or will there be more pain in 2nd half of 08?
Juice, my son.
I must punish those who have premature emasculation.
Gird your loins, boy, and ride the whirlwind!
HAAAAAAAAAAAAA HAHAHAHAHAHAHAHAHAHAHAAAA!!
I bought FRPT and NSYS at last night’s close and shorted AMPX.
Working out perfectly.
Juice:
It seems to me, like Doug Kass, you are trying to get too fucking cute with your trading.
Keep in mind, men like you were made to shine my shoes.
theflyisajoke:
Fuck you.
where’s the rally? i want to get short on the top of it! dow down 77, could have made 5 points on FXP already, damnit. SKF too. shit
Sold the long positions. Made a killing. Up 21% for the day and 34% for the year.
MER was touting it’s 16b or so COMMERCIAL real estate portfolio today as well… does ANYONE think we’ve at all bottomed on that cluster-f? Nope.
I apologize for mimicking the punishment of Tantalus and dangling the grapes of an EWZ short at the Olympian spot of $74.75.
It got only to its previous “line of death” at $74.50, and to that line I should have alerted you, my children. “My bad” as you young ones say.
To make up for my iniquity, I shall remove the kidneys and spleen of my servant, James Diamond (JPM), and display them on my temple gates.
Will that not please you?
Flyster … you are correct about being too cute .
apology accepted
ps.. I don’t shine shoes but my grandparents were tailors from the old country
btw: I am shocked that you are not long SRS as commercial real estate, via shopping malls, will get annihilated.
“The Fly” has grown quite fond of Shorticus.
Anyone interested in playing “Cube Pinball” here might check for a bounce here off of the $45.60 resistance/fib line for a move all the way back to $47.70 or so.
But if it bounces that much, short it with both hands, and hire a Mexican day laborer to help short more with his hands, too.
MER will survive. They are taking active pan handling steps to ask for change on the streets of Shanghai. Thain is doing the right thing. It hurts, but going forward they can slowly build from zero.
Who won’t make it? BSC and Lewis. They wrote all their losses to some hedge funds and got it protected by Cayman Island sovereignty. You don’t need to beg for money when you aren’t going to pay the people you owe. When the Fed tells BSC to pay up, I will have the biggest erection this side of the hemisphere.
As a daytrading fool I am buying XLK,SMH, and XHB on dips only to sell later in the day. Lord help me.
Hope you’re not playing with the greens’ fees.
Classic short term bottom in homies. New home news at 8:30 was horrific and no telling when this ends, yet the market is down 100 points and the homies are up. Its the George Costanza method of trading.
Who is this dum bitch asking questions to the beard? She needs to get her shit straight, she thought the beard was the ceo of GS. LOL
Lol I zoned out when that bitch was speaking.
The AMPX short is banking coin.