Holy cowballs! The NY Times will likely be sued for this article. Apparently, it’s game time for [[MS]].
If you enjoy the content at iBankCoin, please follow us on Twitter“We need a merger partner or we’re not going to make it,” Mr. Mack told Mr. Pandit, according to two people briefed on the talks. Mr. Pandit, a former senior investment banker at Morgan Stanley, said Citigroup was not interested.
Next in line for crack. Will the fed supply MS with any? I say yes with common stock ….ie AIG, FRE, FNM
Unless we get a rally off the new regulations from SEC and their subpoenas in action.
The Fly never sleeps.
Our meltdown in the financials and inv banks is coming so fast and furious, there almost isn’t time to discuss the fact that the Russian stock market has been closed down. Astounding.
DAX futures were still up a few minutes ago.
Heh-heh… “Cowballs…” Heh-heh…
I knew something was up in Russia when the market for “lightly used” “silk” Versace shirts dried up on Ebay.
Goodnight, Morgan. Goodnight, Stanley.
Goodnight.
That article is vicious slander and libel. Everybody knows Dastardly Short Sellers are behind this. John Mack says so. And so does Patrick Byrne the “batshit-crazy” OSTK CEO. And the “jurnelizts” [sic] from CNBC.
Soon the truth will come out–that the world borrowed short and lent long in size because of Evil Hedge Funds bent on pumping-and-dumping a bullshit “Global Boom” fueled by easy money and the carry trade. Yes, we’ve all been had like an Amsterdam crack whore.
Rally tomorrow and friday….
Gold futures indicate otherwise
Gold up big; futures up around 100 as well. Maybe we’ll get a dead-cat bounce while gold extends its massive gains.
In other news, ‘LEH’ is no longer valid. It has changed to LEHMQ.PK. Oh, the humiliation.
And Helicopter Ben airdrops another $180 billion to the world’s central banks….
Fried bull’s nuts are tasty. Especially ones served up by Paulson and Bernanke. Ask Dick Fuld.
After I milked cows yesterday, I loaded up on closed-end fixed income funds. It was like a mess of pigs crapped all over them. HIX, HIO, HYT selling at 30% discount to NAV. Bulls Nuts.
Shades of Freud and spirit of Pareidolia! I see that the burnt toast is giving the finger, though it be the pinky, the sentiment, I am sure, is the same.
Rally today, selloff resumes tomorrow.
While there are still many juicy shorts out there, its time to start looking the other way for the coming 4th Qtr relief rally.
When we get down to SPX 1100 or less, the upside will beckon in a BIG way.
Right now, with Hong Kongs significant reversal, from down 7% on the session to flat, imo its time to start getting long China. Russia will not be far behind. Considering they are closing the doors on Russia’s plunging market, that don’t happen at market tops.
“reflate, reflate, must reflate, must reflate”
One day rally, don’t you think it will be a little longer considering there are so many shorts that will get squeezed? Not to mention VIX bottom callers.
Karma is back!
We’re doomed. Congress is leaving everything up to Paulson & Co.
“Congress, acknowledging that it isn’t equipped to lead the way to a solution for the financial crisis [translation We’re fucking clueless]
and can’t agree on a path to follow, is likely to just get out of the way. ”
[translation and if we did know wat to do we could never agree to do anything]
Oh cmon, i have to call bullshit on that article. Why the fuck would Mack say that to anyone after denying liquidity problems all day on tues, he might as well do all futures tv appearances in an orange jumpsuit. The shorts are punking the media.
What’s next, the Daily News reports Goldman Sachs Blankfein was overheard saying to Santa Claus that the $99 book value was a typo and was meant to read .99 cents.
I dunno, my magic 8-ball says money managers will be dumping the whole way to the end of September to get the poop stains off their books, followed by an early October rally, to be followed by furious selling to lock in early short term gains for Q4.
Any rallies in the near term present nothing more than salvage opportunities to sell and trim losses, imo.
While Rome burned Says:
We’re doomed. Congress is leaving everything up to Paulson & Co.
Think about how fucked up things would be if Barney Frank actually did something besides lisp.
is US Bancorp a short oppurtinity?
Toast! That was a perfect picture 🙂
Damn this PIMCO guy is fucking annoying.
“Please, Gov’t buy my MBS!” What a douche.
the global economy is going back to where it was in the 80s
The 1880’s?
Fil Zucchi
08:45:46 AM
Position in SRS
S.O… er R.S.
Last night Prologis (PLD), a 5% component of the DJ Real Estate Index (IYR) warned and is down 15% pre-market. This is the first of what I suspect will be MANY disappointments from real estate land.
As a corollary, I’ve received a few emails asking what’s my “price target” for the UltraShort Real Estate (SRS). Suffice to say in this environment trying to set targets is tantamount to putting a target on your own back. If ever there was a time for discipline over conviction, that time is now. With regard to my position, the October calls on the SRS are trading with volatilities in the 100’s. That’s good enough for me to sell different out of the money strikes in scale.
Lastly, be aware that the Proshares “Ultra” products consist of derivatives structures. As in the case of all derivatives there are counter-party risks involved which are completely independent from moves in the underlying positions.
PPT was inserted into the sewer system of Manhattan late Wednesday evening, slowly making their way up Wall Street.
Kraft to replace AIG in Dow.
ennet Sedacca
09:05:00 AM
No positions in stocks mentioned.
Credit Market Update
Hello Minyans! Sorry I have been a bit out of the loop lately but trading and money management responsibilities have most of my full time attention. But here goes on the credit market.
I have been saying for years that I ‘earned’ my gray hair by seeing prior credit crises And like they say, there is no substitute for experience. Further, I have stated that since the build-up of debt was unprecedented, so would be the fallout. And now here it is. The credit markets are in disarray and are not function normally, for those used to normal.
But we have 4 major problems facing us as the de-leveraging continues. Hundreds of billions of dollars of debt needs to be re-financed by the end of the year. But how does one do that when we are trading in a ‘dollar price’ or ‘integer’ market in credit? Ain’t easy. The door has shut.
The 4 issues are:
* September 30–quarter end.
* October 31–mutual fund fiscal year end.
* November 30–fiscal year end for many brokers.
* December 31–year end.
So expect pressures to continue. And until the credit market stabilizes, don’t expect a meaningful rally in equities. Despite what the ‘pundits’ say.
Microvision (MVIS), the leader in
light scanning technologies for display and imaging products, today announced
that is has begun shipments of enhanced accessory projectors, enabled by its
PicoP(TM) display engine, to world leading consumer electronics original
equipment manufacturers (OEMs) and telecommunications carriers for evaluation
purposes, including end-user testing. The timing of these shipments is consistent
with the guidance the company gave during its second quarter conference call and
represents a significant milestone in the commercialization process.
It’s not the 1880’s. Consumer debt in the 1880’s was almost non-existent compared to the debt levels we are carrying today. In the 1880’s a large labor pool coupled with abundant resources and productivity gains kept prices low and fueled massive economic growth.
Today, the labor pool is shrinking, resources are getting scarce and prices are high and productivity is flat. Oh yeah, almost everyone is carrying a crushing debt load as well.
Fly AXA has made a heroic leap this morning, what are your thoughts on the name? I am short it from earlier in the week and wondering what to think of this move.
Something is happening to stocks with large short positions – I have CROX HANS NTRI on my screen. All on fire.
LM claims to have no LEH, AIG, or WM paper exposure.
Done daytrading for AM. Thanx MU,SMH,short GG. Nothing to do until Leave It To Beaver hits the airwaves. What would Eddie Haskell do (WWEHD)? Do the opposite. A good philosophy to live by.
Holy Fuck! They opened a new October sequence in GS options. I see strikes going to $5.
Next “Leave It To Beaver”:
http://www.tvland.com/shows/litbeaver/
The Book Report : TV-G
Thursday, September 18 at 11:30 AM (ET/PT)
Eddie’s Sweater- A good episode.
APOL breakdown .. looks like it has room to run
I unloaded my UNG yesterday and was kicking myself all premarket. Whew! Got lucky today. Just closed my FXP short how about you Juice?
Cubs – I’m gonna hold the FXP short till it hits zero. Its hard to borrow, so there’s no telling when I can get more. I think China may have put in its bottom last night. While we may have more to go, I’ll hang with the extreme volatility of FXP. If you agree with Jimbo ‘China’ Rogers, China will be in the 21st century, what the USA was last century.
Reggie’s GGP short to zero, leaking in an up tape.
They’re destroying STT .. I think they go after PNC shortly.
MS + WB = a merger of loosers. Thats like the Mariners merging with the Padres.
Sell that combo short, to zero.