Don’t expect any big moves, until the banks get your hard earned tax dollars. After all, it’s in their best interest to keep the market gloomy, while the idiots in Congress put on a show. Oh, the poor congressmen are so concerned over the little ol’ tax payer.
Right.
There are some concerning matters in the banks, specifically Washington Mutual, Inc. [[WM]] and Morgan Stanley [[MS]] . On the other hand, real banks with chest hairs, Wells Fargo & Company [[WFC]] and JPMorgan Chase & Co. [[JPM]] did just fine.
My positions punched me in the face again, with losses in Citigroup Inc. [[C]] , [[UYG]] , Walter Industries, Inc. [[WLT]] and good old fuckery itself Freeport-McMoRan Copper & Gold Inc. [[FCX]] .
Look you, the entire world is out to kill short sellers. There is an unprecedented effort to create another bubble. The way I see it, instead of betting against the man with the magical printing press, I might as well befriend him and politely ask for a few billion dollars.
Finally, Research In Motion Limited (USA) [[RIMM]] is going to post numbers tomorrow. I am deathly afraid of buying it directly, despite its depressed share price. However, getting long [[ROM]] , down at these levels, may in fact turn out to be a rather profitable endeavor, indeed.
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Game is Rigged,
Check out the AH in SNV. Now back to $11.25.
Fuck everyone and their inability to stand up for what is right and stop this bail out. This is your chance to stand up for the children of this country. We are better off rebuilding from real fundamentals then blow up an artificial three headed monster. If you think reinflating a massive bubble is good for this country, you can go fuck yourself with a can of steak knives.
Agree on ROM but who knows when these banks will turn up. FCX=WTF? By the way Albert “The Internet Maven” Gore is out to kill coal via violent acts and he wants your kids to help. Total douche bag.
Last I checked, civil disobedience was NON violent. Good lie though.
Sierra,
Agree. Find your rep and shoot them an email.
-DT
Speaking of third-tier blogs:
David Morrow
Interested in Writing for RealMoney?
Drop me a line. Stock-specific commentary preferred.
All I can say is – unless you are a day trader – CASH is king.
Anton,
While it’s true, my blog is third-tier, it’s also true that I’m the king of the third tier.
-DT
FLY not the only one buying in advance of a bailout approval(lots of company). Market trades in the direction that causes the most pain to traders. Easy gains have come and gone this past friday for at least remainder of the year.
Long live King DT III!
Paulson looked like he was ready to jump across the table and pinch that fucking Congressman’s head off.
DT,
I wasn’t talking about you and I’m not familiar with your blog.
I just thought it was funny that RM is looking for writers… Especially when there’s plenty of good stuff here, sans subscription fees.
Many who used to work there trash the site now.
But congratulations on attaining peerage.
More Dick(head) Fuld egregiousness:
http://bespokeinvest.typepad.com/bespoke/2008/09/lehman-ceo-stoc.html
Anyone want bet the guy eventually does some prison time?
DT wrote the instructional manual on third tier blogging, and I mean that in an entirely complimentary way, no foolin.
Buy a straddle on RIMM and enjoy the fireworks. Stocks are for asshats, anyway.
Help, I need oxygen.
Anton,
My mistake. I guess I get a little jumpy whenever anyone mentions the third tier.
If you’re not 100% familiar with the blogging tier system, might I interest you in this fine resource.
See? I’m third-tier to the core, link-whoring myself like that.
-DT
I’m the king of the third tier.
Sorry folks, we’re still working on a cure for DT’s delusions of grandeur!
Listen you, I’ve got enough “friends”
Just keep these schitty banks stocks elevated long enough for the rest of my “friends” (real friends, like “GS” friends) to get the rest of their filthy lucre (and mine) out of this market before I drop the hammner on all o youse.
“Paulie” out.
_
I almost kind of feel bad for being so “up” today, whilst Fly gives back all that filthy lucre he banked last week on that “Spidey Sense” bullshit thing he does.
(And I was at a meeting, of course).
But since I’ve never been bitten by a radioactive spider, ‘n shit, I don’t feel that bad.
___
I myself would consider it a good day to get cornholed by a professional Ringling Bros. clown rather than the amateur Shriner clowns that keep showing up.
And on a positive note, Fly must not feel so bad either, since he resumed the “day end video” tradition again.
i bought some RIMM last thursday. never got rid of it, even though there are plenty of reasons to, before it turns into a loss. i’m just going to let it ride. i’m sure it will blow up and i’ll end up drinking my tears away.
Fuck this this market. It and everyone involved can suck a bag of dicks, Louis CK style.
http://www.youtube.com/watch?v=UMy6wVNdllI
FRE FNM breaking out AH
Rigged,
That was pretty funny.
__
So what constitutes a second tier blog?
I think it’s pretty clear… the fat bastid has completely lost his mind.
First and second tier blogs explained.
-DT
I like DT’s blog.
I especially like how he posts up what some of the traders are doing in real life.
I tell you what, some of those crazy cowboys banked some serious coin on that capitulation day.
One thing is always for sure if those guys are banking that kind of coin on their “day of days”, then they are taking big heat on certain days and quite possibly getting parts of their torso blown off here and there.
No guts, no glory I suppose.
I will now go enjoy a lightly peppered grilled cheese sandwich (no onions) and the strongest cadillac margarita (or three) known to man.
Cheers!
After watching the fucktards question Paulson and Bernanke today, it’s gawd-damn clear that one of our political parties has idiots in it, but the other one is almost exclusive idiots. It makes you question, how do fucking idiots, who have trouble with sentence formation get elected? Believe it or not, these politicians lobby for cynicism, because it keeps a lot of smart people from voting … thus, keeping them in office.
I’ll let your imagination draw it’s own conclusions.
I love the smell of late stage capitalism in the morning.
DT,
I’ve been away, buying alcohol, energy drinks and bullets in anticipation of the coming collapse of civilization. Just read your post and checked out the link. That is the scariest photo I have ever seen. I don’t know anything about third tier blogging, but you’ve got to post a warning before leading people into that.
My eyes are bleeding.
Now I check your “second & third tier blogs explained” post, Dino, and you’ve got a picture of Liberace as your avatar. It’s troubling that that’s only the second gayest pic in your arsenal. Pun intended. Troubling, indeed.
Waiting sucks balls.
Market Fool,
Glad you like the blog. Last week was sick. However, it’s true you don’t make money like that without taking a huge hit now and then.
Anton,
As for those pictures, they go back to a small war I had with Ragin Cajun back in the day, before he was an elitist (i.e. first tier blogger). I’m still not sure who tagged me with that Liberace avatar… but one day, they’ll pay.
Looking forward to the Presidential Address. I’m sure, after hearing him “talk” about the “interlinkages” in our economy the other day, that it will be confidence inspiring.
-DT
What ever happened to “only the strong survive”? We are diluting our gene pool of corporations and banks by letting these fleabag entities continue to suck the blood out of the public.
Americans have become weak. “Oh no, we can’t let them fail—my (mom, dad, brother, sister, friend, etc.) works there.” “They’re too big to fail”…”What’s a little $700 Bill”?
It’s become impossible to tell a presidential address from an SNL sketch.
Here’s his speech tonight:
http://www.youtube.com/watch?v=ZgApn_n8BHE
looking for a web site that screens bonds. Based on pluggable information. Any ideas.
should be a free site.
I get the feeling that Bush wants to ensure that a deal is done ASAP in Congress hence the speech tonight. I expect zero new wisdom will be imparted in this speech.
But it strikes me as grandstanding that McCain has gone to Washington to “help solve the economic crisis”. What’s that old Valley girl expression, gag me with a spoon.
Boca,
I know what you’re saying, but on the eve of the end of the world as we know it, it isn’t right for the two presidential candidates to be anywhere but Washington. Isn’t McCain still head of the commerce committee or something?
When I was less cynical, I would have seen this as a good, responsible move. Now it’s just a good political move. Besides, Barney Frank acts like he has the Dem votes for a deal, but the Republicans aren’t going to do anything until they know where their candidate stands.
Deal either late Friday or Monday and McCain takes credit for being the peacemaker, or they get Howie Mandel on the job.
I still contend he’s the only person on cnbc who’s ever made anyone a dime.
If there’s anything on earth that can sink this scheme, it’s a speech in favor of it from Bush.
Instead of being postponed, it now stands a chance of being repudiated.
Not going to watch the Bush speech. I’m busy saying “no it’s too expensive” when I get confronted with the details for my daughter’s wedding in May. Hey, if I knew she was going to get married before 28 years old I would have said forget it to the fancy education I paid for.
You don’t know what you’re missing, Trader. (Nothing)
Good luck with the wedding. You could always remind her how romantic it is to elope.
DT is one funny mofo.