I bought 40,000 Citigroup Inc. [[C]] @ $15.36.
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Joined Nov 10, 2007
23,433 Blog Posts
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Hell has frozen over.
Hell of a fucking trade!!~!
That’s TOO many shares, Fly. I’ll expect a written explanation by 3:59 P.M. or you may face criminal charges.
Please release the real Fly! I see through your chicanery.
full cover of shorts.
Check out 8:13pm comment yesterday. CNBC reads iBankCoin.
http://www.ibankcoin.com/flyblog/index.php/2008/09/17/the-great-experiment-called-american-capitalism-is-dead/#comments
Hey, where’s the often funny disclaimer?
Fly, to be clear, are you now out of your inverse etfs, SKF & SRS?
All out.
I will explain later.
I’m a dick.
Covering, I got it. Phew. Holding mine (short)for a bit. When should I add more (short)? I asked the 8 ball, the fucker said, “ask again later”.
That isn’t helping me.
Thanks. At least you’re not a Cox.
Shit look at SKF. Down over 40 from the peak today.
That’s a man sized hedge. Manwich, it’s what’s for lunch.
BTW I’m suspicious of this news between 3 and 4 pm about an “RTC type solution”, because:
1. Wouldn’t Congress have to approve the establishment of this entity which would presumably purchase toxic debt, not assets, but debt from our illustrious financial institutions?
2. Isn’t Congress “on coffee break” now? I doubt they would do anything now for fear of spooking the election.
3. So, if it’s just a desperate market boosting manipulative rumor, even if it turns out to eventually be true, isn’t this another example of socializing losses?
What a way to bankrupt our country, we’ll deal with this pain for many years to come.
Went almost 100% cash yesterday…and now my remaining, random, previously worthless call options are turning green. Hallelujah, what a week!
i bought some RIMM on the nonsense. i felt left out.
boca,
Perception of solution is all that is needed to spark a serious move…..whether it passes or not whether it works or not doesn’t matter….
you’re right GW, it is perception, and eventually people will figure it out, maybe just not this afternoon.
boca,
of course it matters, but for panic stricken markets this is rebirth material….
Apparently the new rules on short sellers wasn’t enough to spark a rally earlier today so some egregious rumors were leaked to add a little gasoline to the spark….
we may see 1251 S&P on this crap by tomorrow
Making this announcement on option expiration week after big down moves… the government may be a bunch of idiots, but they’re not stupid.
Nonsense, but loving the action. Holy RUT performance….
Comrades, Comrades. Please let me explain. While you were all shorting bank stock, Politburo under supervision of Commissar Paulson busy buying bank stock using money kindly provided to us by Comrade Bernanke. Now we announce plan to buy all bad bank asset using money we make from this short squeeze. This is new style of Socialism no ?
Thank you much for your attention
Vladimir W. Bush
Secretary General USSA
I love it, a phantom bank holding trust will just hold all the paper while the gov foots the bill in the interim until the assets come back to a liquid market…still does not stop the housing downturn though…but it might let the banks stop hoarding and start lending again…thus preventing more forced bankruptcies….hmmmm
Don’t be surprised if this move is completely given up in no time.
This will backfire in a BIG way. There will be no buyers next time down with shorts out of the way.
the fly with a smooth 80k in 30 minutes. nice
These banks seem to think that they will be getting the good assets and the crap goes to Uncle Sam?
KRE etf has been an animal all day (as I said earlier during the mini crash- was negative for about 5 minutes).
The volume on various charts doesn’t look very convincing into the close. And LM and GS are red, again. Sitting on hands, deep breathing.
Bought a ton of jpm calls and some uyg for a hedge..
RTC is a stay of execution.
A/D is a little better than 2-1. Not impressed.
FLY THE BAND PLAYS ON 4U>>
http://www.youtube.com/watch?v=38JpAMG65Dg
Imagine you were short MS and left your monitor to take a shit or something.
an RTC does nothing to solve the credit default swap and leveraged derivative situation, although it might help the housing market.
PURE FUCKING CRIMINAL! FUCK THIS SHIT FUCK.
don’t get me wrong I’m glad we were able to rally, and hope people made plenty of $$ from it.
Welcome to the country of rich and connected. Why are these fuckers screaming bloody murder when their own ass is getting pounded. Now all of a sudden it is illegal to short or naked short. All along all the other companies are taken down by themselves or their customers.
This is just bullshit. I would have been very happy to see GS and MS get their asses handed to them. But luck for GS they have very good friends in D.C. And now the taxpayers are on the hook, while these bastards drive off to hamptons in masaraties.
thanks.
Did anyone else see LM jump and print in the 50’s??? WTF was that?
Whats wrong? – we only do bullish news on the wknd
Yet another “Government Failout”
Fly, if you DID buy C at 15.36, why wait at least 18 minutes to post it?
How much of this socialism can our country take?
BTW, Way to read the signs and take action FLY. I admire that.
Don’t be a Richard, Robert.
kd — the fat lady has not yet sung her tune.
What gapnyap said to the 100th power.
These assholes have made the market not just a casino, but a crooked casino.
Run by Fredo Corleone.
Rob, it would be in the Fly’s interest to post ASAP.
We should assume he did.
Assume also…he must have stolen my father’s balls.
Yogi,
The gov. will take taxpayer money and take bad assets from these greedy fags and fuck us taxpayers. Come on man Hanky Poo Paulson will look out for his buddies at GS. Kind of ironic that when GS gets heat on its ass Hanky Poo comes out with is big BAZOOKA.
Free market my ass. This is FUCKING BULLSHIT.
What the fuck is up with:
FED up $5.39 (this stock never goes down anymore???)
ZION up $9.23 ?????
MI up $5.18 ????
These regional banks never go down anymore! They hardly went down during the last few days of carnage, now they sky rocket.
I fucking hate them all AND Im all in cash. Watching them makes me fucking nuts for some reason. I dont get how they perform so well.
So this fixes everything?
We still have money market funds taking craps all over the place. Still lots of cockroaches to kill. It’s going to take a while for the gov’t to get this worked out and in place. In the meantime, financials are not yet out of the woods.
I bought SKF at the close.
So when does Vince Farrell start writing for IBC?