I bought 5,000 VCLK @ $7.15
Disclaimer: If you buy VCLK because of this post, the next time you go to IHOP, you will suffer from food poisoning. And, you may lose money.
Joined Nov 10, 2007
23,443 Blog Posts
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Fly Madoff – good to see you have changed gears and quit your money losing obsession with shorting oil.
Bennet Sedacca
11:25:12 AM
No positions in stocks mentioned.
Stepping up MBS selling
It’s funny. People that were begging my firm to take billions of dollars of mortgage baked securities are now begging me to sell them back to them. Many points higher of course.
Even after the 30 year has sold off a cool 10 points.
As absolute return managers, we have the luxury of sitting in cash, even if it earns nothing.
Even in bonds, sell when you can not when you have to.
And the deluge of supply is just beginning. So if you think the credit markets are safe to venture into, do your homework first. This mess is not over and the bids my firm is getting are a belated holiday gift.
shit, I haven’t heard or thought of that company since, like late 1999, when I was certifiably addicted to StarCraft and Buffy the Vampire Slayer.
You know I am banning you right?
Just so you know.
I bought 200000 shares of KRY at .19.
I think I have been officially scared out of this market. I see a stock like FWLT at a buy point 23.80 and I dont buy it.
I automatically think that stocks are going to crash. I am not chasing as well. I just dont want to be part of this.
Anyone else just “scared” or not in any rush to press that buy button?
Not that I am not a new investor, but with the beating I took last year…..(Holding stocks)…Now I buy and sell instead of buy and hold.
Cant bring myself to buy. Just dont think its worth it. I must regain my balls. I can do this.
Hilarious how the Fly Madoff bans anyone who owns him.
That KRY purchase is the equivalent to an option on Chavez leaving office alive or dead?
Wasn’t it YHOO rumored to buy VCLK about 2 or 3 years ago when VCLK was in the 30’s?
Smoke! Smoke! Smoke!
ERX at fohty eight?
__________
Pete – nothing wrong with sitting out for a while. I’ve been out for a month, lurking. Feeling skiddish, sure.
Then, this am, saw the Steve Jobs news and acted. 1000 @ 92. Then 1000 more at 93.05, when it retraced. Sold the more expensive lot at 95.5, holding the rest. Stops in place, good to go.
Also, consider a smaller lot. Why not 100 shares of FWLT? Done, let it ride. Get your rhythm.
You are right on one front – you can do this, just dont force it.
your mother is a male prostitute.
Fly- We are making plans for the annual trip to the water park. We will bring the sunblock for you. What do you say?
IHOP rules!!!!
FLy cry
Fade,
You really think Oil is in a bull market? China only imports ~4% of world supply (can’t remember what they produce domestically). There is a glut and it will continue to grow and flood demand.
Natural Gas is a whole other issue. I’m not sure why it isn’t through the roof based on the inclement weather…
Fly,
Great vile attitude today!
Fade’s gloating tick-topped the market, haha
Pete:
I own small amounts of CLF, FCX, and GLD that I bought late last year, but I’m about 70% cash.
I’m a big believer in symmetry. In 2002, we got a low in July ’02, a lower low in Oct. ’02, then a near retest but a higher low in March ’03.
In 2008, we got a low in July, a retest in Oct. and a lower low in November. The lower low in November really screws up the symmetry theory. Even so, I’m expecting a retest in March/April ’09.
If corporate credit spreads continue to tighten as they have since the last FOMC meeting, and the Nov. low is retested but at a higher level, I’m going all in.
His mother is a male prostitute.
You oil bulls still circle jerking?