Never bet against the man with a time machine.
Off to celebrate the death of Bear Sterns [sic].
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Joined Nov 10, 2007
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Death to Bear Sterns, Death to Lehman . . .
Bring me a wench and a pint of ale for I shall heartily celebrate their demise with my fortune. And Fly if you can spot me a rib or two that would be cool. Once a leech always a leech I do say.
Next week is OE, should be full of “wacky hijinx”. Don’t forget to wear your cup while trading.
Fly:
I’ll watch out for the giraffe driving the donut truck, fuckface. I’m glad I was wrong, banked some major coin today. Nice last second shot. My team just keeps on crushing people.
This weekend, Imma
Get Throwed
I hold some gold positions and hope to GOD it doesn’t gap up like oil did.
If it does I will sell it off like mad (and move it all to other currencies) simply because this is something the government has control over. The government can’t control oil, but like the IMF announcement (then retraction) a few weeks back, they will try to manipulate the market by announcing that they will be selling off some gold reserves. The IMF action shows that they don’t want it going up and will make noise. It didn’t affect the market because everyone called their bluff but if they start panicking, they might action off Fort Knox or something stupid.
I hope for a slow orderly rise in gold prices.
True story:
RE Broker friend of mine met these clients who wanted to sell their condo to buy a detached home. This was mid 2006. The condo was listed at $699K. Friend discovered the clients owed $650K so a sale at full price would mean the clients could buy the “house” but with zero down. Come to find out these people took out a $200K equity line months before. Friend looked at their closing statement(for the refi/equity line) and noticed the clients were not too financially savvy. The $200K equity line was obtained thru Stearns Lending (yup, subsidary of BS) and the closing statement showed the interest rate on the equityline was 13% (6% was going rate at time) and the Stearns Broker charged the poor bastards $18,000 to get the loan. 9 month later they did a “short sale” on the condo for low $500K’s and the $200K equityline was wiped out.
Karma’s a bitch.
Fly Antagonist “Breakfast Meat” makes his tee-vee debut (in name only) during the Superbowl. Watch for brief “Fly” cameo at 0:28 seconds:
oops, meant ribeye. need to get my cut’s of meat right.
ASSHAT OF THE WEEK CRAMER
03/11/08 – 07:39 PM EDTHe told another viewer that he’s not worried about Bear Stearns (BSC – Cramer’s Take – Stockpickr), saying the company is not in trouble and no one should be pulling their money out of it.
03/11/08 – 07:39 PM EDT
Cramer: Bear Is Solvent
I think the liquidity rumors are wrong, says Jim Cramer.
Tue 03/11/08 13:19 PM EST —
Jim Cramer does it again. When BSC was at $85 he says its a steal and when it hit $70 he said BSC has no issues!!!!!!!!! Jim does it again
Anyone else see the CEO of the ICE on fast money today stating that the SEC is looking into raising margin requirements on oil futures? Might this force at least a bit of deleveraging and thus might be good for a few quick points on the short side? Any futures traders out there with some insight?
Hey Fly, what kind of position sizes do you use for your trades typically? 10%?
Good point lurker. Another SEC trick out of the bag to manipulate the market. I wonder where the fuck they got that idea?
Breakfast Meat has gone viral! Ah, the fame I have long craved has finally arrived. Thanks for the plug JakeGint.
Yo, yo. Booty call. Check this out…
who would have guessed??!! The little guy is banking coin shorting stocks while the big boys deleverage and lose their asses. Now, that’s karma.
Hm… all in all I’m agree with you, but your readership… what are they gonna say about it?