realist Posted March 20, 2007 Report Share Posted March 20, 2007 Cramer going to prison? "A lot of times when I was short, I would create a level of activity beforehand that would drive the futures. . . . It's a fun game," Cramer said in the Webcast, which was moderated by TheStreet.com Executive Editor Aaron Task. Cramer later said that "no one else in the world would ever admit that, but I don't care." However, seconds later, he acknowledged, "I'm not going to say that on TV," referring to his show on Crapvision. He added that the strategy - while illegal - was safe enough because, "the Securities and Exchange Commission never understands this." 569470[/snapback] Proof Positive.. CrapVision only hires the finest swindlers and scam artists to rape and pilage the viewing sheep. Kramer giving away the hedgehog trick book on YouTube is a big no-no.. You don't shit where ya eat buddy! Link to comment Share on other sites More sharing options...
Bungster Posted March 20, 2007 Report Share Posted March 20, 2007 At a weekend sale of about 300 Detroit-area houses by Texas-based auction firm Hudson & Marshall, the mood was marked more by fear than greed. In the most spirited bidding of the day, a sprawling, four-bedroom mansion from Detroit's boom days with an ornate stone entrance fetched just $135,000. Houses he thought were bargains at $70,000 two years ago are now selling for just $35,000. A four-bedroom house near the original Motown recording studio sold for $7,000. A boarded-up bungalow on the city's west side brought $1,300. 569478[/snapback] Aw, shorty.... that's Detroit... it could never happen in SoCal....everybody wants to live here... Link to comment Share on other sites More sharing options...
Bungster Posted March 20, 2007 Report Share Posted March 20, 2007 Hey shorty, Did you read this from http://thehousingbubbleblog.com/ ?? The San Francisco Chronicle. ?Recent home buyers, many seduced by too-low-to-last teaser loan rates, are finding that all good things must end. For more than a million, they could end in foreclosure, according to a study by First American CoreLogic.? ?Unlike a lot of other research about mortgage risk that has roiled Wall Street during the past couple of weeks, the First American report didn?t find the problems with risky loans to be limited to subprime borrowers, or people with poor or little credit.? ?The largest group of loans likely to go into default are those that started with extremely low teaser rates regardless of whether borrowers had high or low credit scores, the report finds.? ??This isn?t just subprime,? said economist Christopher Thornberg. ?This problem is starting to occur in most of the adjustable- rate mortgages. Even for prime borrowers, we?re seeing a big spike in delinquencies among adjustable-rate mortgages.?? This is just starting to get good.... Link to comment Share on other sites More sharing options...
I_Am_Madness Posted March 20, 2007 Report Share Posted March 20, 2007 Looks like some penny fund blew up somewhere. Here are 2 of the hotest OTC penny stocks over the last 2 years. Complete annilation the last few days on no news. Wondering if there's a playable bottom here. Link to comment Share on other sites More sharing options...
shorty Posted March 20, 2007 Report Share Posted March 20, 2007 At a weekend sale of about 300 Detroit-area houses by Texas-based auction firm Hudson & Marshall, the mood was marked more by fear than greed. In the most spirited bidding of the day, a sprawling, four-bedroom mansion from Detroit's boom days with an ornate stone entrance fetched just $135,000. Houses he thought were bargains at $70,000 two years ago are now selling for just $35,000. A four-bedroom house near the original Motown recording studio sold for $7,000. A boarded-up bungalow on the city's west side brought $1,300. 569478[/snapback] Aw, shorty.... that's Detroit... it could never happen in SoCal....everybody wants to live here... Yeah, everybody wants to spend their life dodging unlicensed uninsured illegal alien drivers swerving stolen vehicles down the freeway at 80 mph, sucking polluted air, on the way home to their $550K termite-infested 900 sq ft stucco shanty within fart's whiff of garage-squatting registered sex offender neighbors on three sides, with a gravel front "lawn" out front, no basement, no attic, no yard, that they bought with a neg-am no-doc Liar Loan so they're 100K underwater already based on what they could actually sell for now. It's paradise. Link to comment Share on other sites More sharing options...
Speakeasy Posted March 20, 2007 Report Share Posted March 20, 2007 Not much to report. Other than its that time again to start thinking like a criminal. How are the Bulge Firms going to take away the most amount of money in the fastest period of time from the Riverboaters tomorrow? Shank and Crank? or Crank and Shank? Will the first move need to be faded? Or will the first move tell the true direction? What about the currencies?? How will 400:1 leveraged FX Bucket Shoppers be vaporized? Will the U.S. Bonar rally again like it always does? Who knows? What about the famous "I'm The Boss" Bernanke/Paulson resubstantiation rally? Will that come in Thursday if the markets take a dump tomorrow? So many questions. In the meantime, it continues to be "Pai Gow Party Time" in China. Excerpts from today's Wall St. Journal Stock Bulls Are Back in China Investors Are Unfazed by Interest-Rate Increase By JAMES T. AREDDY and JANE LANHEE LEE SHANGHAI -- Investors in Chinese shares shook off the country's first interest-rate increase of the year, pushing the Shanghai Composite Index above 3000 for the second time ever and putting it on target to test the record, which, when reached last month, prompted selling and a global market rout. The Shanghai Composite Index rose 2.9% yesterday to finish at 3014.44. Share prices fell in early trading in response to the higher interest rates, but the market quickly rebounded. Yesterday's close marked the highest for the benchmark index since Feb. 26, when it finished at a record 3040.60. The next day, the Shanghai index plunged 8.8%, its biggest fall in a decade and one that set off a chain reaction in equity markets around the world. Individual investors have plowed increasing levels of cash into stocks, which have roughly tripled in value since an eight-year low in mid-2005. During last month's Lunar New Year holiday, more than one million new investor accounts were opened, according to the Xinhua news agency. .......................................... Over on Walled Struck, there still remains an insatiable demand for junk paper of all stripes, except for subprime garbage. In fact, much of this paper is being floated to pay fat dividends for the Hamptons Crowd. Check this out. Excerpts from today's Wall St. Journal Apollo's Black Masters Debt Markets Financier Taps Loans and Bonds To Pay Dividends By CYNTHIA KOONS In an era of easy money in the junk-bond market, one seasoned financier has become a master of a new universe. Leon Black, as head of private-equity giant Apollo Management LP, has orchestrated some of the most creative debt deals in the junk-bond market in the past six months to secure hefty paychecks from recently purchased companies. In a way, Mr. Black is back. Apollo Management is capitalizing on the latest M&A wave by using very accommodative debt markets to pay itself some of the quickest dividends ever seen. In the past six months, the firm has tapped the debt markets to fund at least as many payouts. Take Rexnord Corp. Apollo bought the power-transmission-equipment maker in the summer, then used between $200 million and $300 million in cash to buy plumbing-products company Zurn and merged the two. Within weeks, Rexnord was tapping the loan market for a $400 million risky loan deal to pay Apollo a dividend, said Keith Hogan, a bond anal cyst at Pioneer Investments. The deal wound up being upsized to $450 million, and the proceeds went entirely to fund the dividend, Mr. Hogan said. Strong demand for bonds, particularly those offering extra yield, has created the right environment for such offerings, with investors more concerned with return than a company's cash flow. After all, financing a dividend payment does little to improve a company's operations, yet the added debt leaves bondholders more vulnerable to potential losses. Apollo financed that dividend with a high-yielding pay-in-kind "toggle" debt, a new twist on the PIK notes popularized in the 1980s that allows a company to pay interest in either cash or additional debt. These notes began popping up with greater frequency in the fall, starting as a way to finance giant leveraged buyouts and later championed by Apollo as a way to pay dividends. "Apollo is notorious for these dividend deals and these complicated [debt] structures," said Andrew Feltus, a portfolio manager at Pioneer, adding the firm's known for "layering, layering, layering, layering" debt on a company's balance sheet. Apollo isn't the only one playing the game. In December, Carlyle Group collected on its investment in United Components Inc., using $235 million of PIK bonds issued to finance a $260 million payout for the firm. Yet, Apollo still stands out from its peers. "If they have the ability to div out, they'll do it. They'll always take advantage of a hot market to div themselves out," said Justin Monteith, market anal cyst at KDP Investment Advisors. "There are managements that want to have a good reputations with the bond market so they can get favorable financing and Apollo is not one of those." 569437[/snapback] We have a word for the action that uses the natural and logical forces of Finance to subvert and topple and destroy the natural laws prevailing within the realm of Productivity:--Sabotage These M &A Queens are the types of organism that arrive,anchor and stealthily exit their submarines by night, usually within sight of the Jersey coast; and with nothing more than rubber boats and suitcases loade with obnd sale proceeds attack andlay waste to entire financial continents---the only thing missing from this odious compositiion is a vast desert and a statue of Ozymandias beardrech You bastards I know you like a book 569473[/snapback] Sabotage indeed! That nails it and here's yer statue. OZYMANDIAS I met a traveller from an antique land Who said:—Two vast and trunkless legs of stone Stand in the desert. Near them on the sand, Half sunk, a shatter'd visage lies, whose frown And wrinkled lip and sneer of cold command Tell that its sculptor well those passions read Which yet survive, stamp'd on these lifeless things, The hand that mock'd them and the heart that fed. And on the pedestal these words appear: "My name is Ozymandias, king of kings: Look on my works, ye mighty, and despair!" Nothing beside remains: round the decay Of that colossal wreck, boundless and bare, The lone and level sands stretch far away. Percy Bysshe Shelley All efforts come to naught, dust to dust, time moves on. Nothing survives except stone and plastic bags and used condoms. Someday, these precious little pouches of fluid will be dug up in garbage dump excavations, and carefully carted off to some lab and analyzed to understand humanoids from past centuries. From those results, future humanettes will look back to when their ancestors were still hairy, violent and randomly reproduced in the chaotic waters of the worldwide gene pool, without choice about their offspring’s characteristics at all. That will surely revived the old debate over whether 21st century humanoids actually human or rather a pre-human sub-species. Even this massive flying cattle car, will be doomed by it's size and complexity in an age of dwindling fuel to run it. Pretty straightforward really, but almost everything is automated with little piloting to be done. Don't really even need to be sober, as long as you can still type. They'll end up selling off at 40cents on the dollar to one of our 960 known billionaires, 455 or so in the US. Larry, do ya see. You just gots to get you one of these to go with your 400' yachts, baby. Link to comment Share on other sites More sharing options...
Brisbane Bear Posted March 20, 2007 Report Share Posted March 20, 2007 the chickens are coming home to roost in OZ. I can't ever recall seeing a strong and competent government go down hill so fast. The encumbent Conservative party has gone from cruising to knocked out in the space of about 2 months. I would suspect the smart money would be looking to cash in their chips and go hibernate for the next 5 years. This incoming government will not be business friendly. Illusion cops a beating from reality We're at the point of experiencing the downside of the housing boom. Many home owners have been most gratified to see the value of their home at least double over the Howard Government's 11-year term. But economic theory tells us the feeling of increased wealth people enjoy is an illusion. And we've reached a point in the housing cycle where they'll find that easier to accept. What started as a way to get rich quick has been transformed into a way to bleed slowly. http://www.smh.com.au/news/opinion/illusio...4153063794.html Link to comment Share on other sites More sharing options...
Speakeasy Posted March 20, 2007 Report Share Posted March 20, 2007 Looks like some penny fund blew up somewhere.Here are 2 of the hotest OTC penny stocks over the last 2 years. Complete annilation the last few days on no news. Wondering if there's a playable bottom here. 569486[/snapback] Those charts evoke an image to me of guys dumping the remaining inventory at market, completing the funds transfer to the caymons, and shredding files, hurrying to catch the midnite plane out of town. Link to comment Share on other sites More sharing options...
Speakeasy Posted March 20, 2007 Report Share Posted March 20, 2007 At a weekend sale of about 300 Detroit-area houses by Texas-based auction firm Hudson & Marshall, the mood was marked more by fear than greed. In the most spirited bidding of the day, a sprawling, four-bedroom mansion from Detroit's boom days with an ornate stone entrance fetched just $135,000. Houses he thought were bargains at $70,000 two years ago are now selling for just $35,000. A four-bedroom house near the original Motown recording studio sold for $7,000. A boarded-up bungalow on the city's west side brought $1,300. 569478[/snapback] Aw, shorty.... that's Detroit... it could never happen in SoCal....everybody wants to live here... Yeah, everybody wants to spend their life dodging unlicensed uninsured illegal alien drivers swerving stolen vehicles down the freeway at 80 mph, sucking polluted air, on the way home to their $550K termite-infested 900 sq ft stucco shanty within fart's whiff of garage-squatting registered sex offender neighbors on three sides, with a gravel front "lawn" out front, no basement, no attic, no yard, that they bought with a neg-am no-doc Liar Loan so they're 100K underwater already based on what they could actually sell for now. It's paradise. 569487[/snapback] Yessiree! Everybody loves Kali, where everyday's a holiday and every meal's a feast. Link to comment Share on other sites More sharing options...
dogsie Posted March 20, 2007 Report Share Posted March 20, 2007 2+% moves in ORCL and ADBE, yet Q's are still down 2c. Link to comment Share on other sites More sharing options...
mmoy Posted March 20, 2007 Report Share Posted March 20, 2007 I think that Larry flies one of these: Link to comment Share on other sites More sharing options...
jickiss Posted March 20, 2007 Report Share Posted March 20, 2007 jickiss is back! and Two Things, (really 5): 1. Shorty, your analysis of the fine points of Southern Kali Real Estate is very much on point. but, to go back into the past, is the Kali One Decision Rule still in place, wherein the borrower just flips the keys back to the lender, and walks, with -0- chance of the lender coming after any other asset of the borrower??????? -0- chance is not meant to apply to the legal discussions, but to the Practices of the Bonks....it was made Very Clear that the one decision rule applied to First Deeds or whatever they call them in Kali, and NOT to ADDITIONAL layers of debt that were not the source of the first purchase by the original borrowers..... or, as some poster said here quite some time ago, this kind of situation would change in the future in a situation wherein Real Estate went underwater. Underwater financially speaking, that is..... so many pages and posts were BURNED on the discussion of the Kali One Decision Rule as to make most run for a bucket, but, to your jickiss, the Kali One Decision Rule seemed to be the One Major Reason for the appreciation of Kali RE, versus the other lower 48 states. Since Marky Mark has direct knowledge (one imagines) of lending practices, perchance an update will be originated here.... 2. Back to the stock market....if you think about it carefully, all of last week, the week that ended with options EXP, seemed to be marked by various abnormal extremes for many key securities, from IBM to NEM to some Bonks.... now, so far this week, we still have an abnormal market, due to the Fed deal on Wed (tomorrow). of course, these kinds of Market Internals or the Mechanicals of the Markets Really matter to da Boyz, who remain hard to beat due to, (it is argued and claimed by your jickiss), the low level of yield on 10 year paper. 3. To confirm the end or the evil market in gold shares and the bull market in the INDU, watch GG s all time high as the Gold Price ascends thorugh $700 to $750. the gold shares really need to start doing better than the metal, but, lets face it, with the metal still not robustly advancing through the $650 zone, the mills of the gods are grinding slowly, unfortunately. 4. will, asks your jickiss, shares of such specialized energy firms, like SU, eventually perform the way the ur- rain- e -yums moved? your jickiss thinks that the answer is a very clear: "Yessssss!" finally, 5. Dear Shorty, do ewe have any particular forecasts for CDE???? your jickiss thought that CDE would print $3.33 on monday, but it hardly fell at all, despite the pro-nunciation of the 9th Short Ser-cut Kort. To you jickiss, this means that there is now -0- public ownership of CDE, that is, all the shares are now in the hands of da Boyz.............but who would buy here with the current MGT Teem of CDE still collecting big paychecks to deliver low share prices???? Maybe da Boyz expect a new mgt team or a buy out of all of the dirt cheep CDE shares soon????? jickiss!!!!!!! Hold Fast! Link to comment Share on other sites More sharing options...
wndysrf Posted March 20, 2007 Author Report Share Posted March 20, 2007 Here's one from the OTC BB It was up a whopping .0006 today. A 60% gain. On over 20 million shares traded. Of course, the thing could get Space Needled any day now for a 4000% gain. Link to comment Share on other sites More sharing options...
mmoy Posted March 20, 2007 Report Share Posted March 20, 2007 I went into CompUSA yesterday to pick up a HD USB 2.0 adapter. I didn't get HD but regular analog tv works. Maybe I need a new antenna too. If you know how to get over-the-air HD, I'd appreciate a few pointers. My 18-year-old antenna and amplifier doesn't get the job done. At any rate, there were signs in the store talking about the new CompUSA so I asked the salesguy what that meant. He said that the stores in Southern NH would stay open but six out of seven stores in MA were closing. Wow! I wonder what makes the stores in NH competitive and the stores in MA uncompetitive. Could it be the sales tax? Or maybe mail-order? I think of having a CompUSA like having a local grocery store - a right. Link to comment Share on other sites More sharing options...
wndysrf Posted March 20, 2007 Author Report Share Posted March 20, 2007 2+% moves in ORCL and ADBE, yet Q's are still down 2c. 569492[/snapback] My prediction for tomorrow: Step 1: Slightly down on the open. Step 2: Grind up a little in the morning on the usual "pre-Fed" Boner drift Step 3: Bernanke says nothing, fails to alter the language. Stocks spike up, then immediately crash. SPX will be down over 15 on the day, NDX will be down 35. Step 4: Stocks open lower on Thursday, put/call spikes up to 1.60 and stays there for 3 hours. Low of day will be reached by 3:00pm. Step 5: Paulson comes in with a massive buy order at 3:30 pm, stocks surge back to unchanged. Step 6: Bernanke/Paulson Resubstantiation Rally on Friday, the first weekend at The Hamptons. Dow will be up 140 points. Anybody else want to speculate on an outcome? Anybody wanna get a pool going? Link to comment Share on other sites More sharing options...
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