I_Am_Madness Posted March 2, 2007 Report Share Posted March 2, 2007 HSBC earnings out Monday 3/5 2am. It's gonna be FUN!!! Link to comment Share on other sites More sharing options...
The End Posted March 2, 2007 Report Share Posted March 2, 2007 It's Friday already. Damn! Didn't want a week like this to end. 1365 looks to be baked in monday's cake. Sit back, do what you need to do to relax, and listen to some Floyd. SOYCD. Great weak- end all. Here is to GS at 160 by the end of next week. Link to comment Share on other sites More sharing options...
Bungster Posted March 2, 2007 Report Share Posted March 2, 2007 The ratio of $NALOW to $NAHGH actually went down today! This shows we still have a long way to go before it is BUY time again...When it gets above 10 it is a good time to buy again... Link to comment Share on other sites More sharing options...
wndysrf Posted March 2, 2007 Author Report Share Posted March 2, 2007 6:06 [FMT] Fremont retains Credit Suisse as financial adviser 6:06 [FMT] Fremont in talks to sell certain subprime lending ops 6:05 [FMT] Fremont to exit subprime residential real estate lending 6:08 [FMT] Fremont General shares down 16% to $7.28 in late trading 6:08 [FMT] Fremont continues to originate commercial real estate loans A little late!!!! Link to comment Share on other sites More sharing options...
crazy_ate Posted March 2, 2007 Report Share Posted March 2, 2007 6:06 [FMT] Fremont retains Credit Suisse as financial adviser6:06 [FMT] Fremont in talks to sell certain subprime lending ops 6:05 [FMT] Fremont to exit subprime residential real estate lending 6:08 [FMT] Fremont General shares down 16% to $7.28 in late trading 6:08 [FMT] Fremont continues to originate commercial real estate loans A little late!!!! 564855[/snapback] NFI and NEW continue to take the pipe in the afterhours......Tanks Doc for the NFI reco.....looks like I won't be getting bitch-slapped on this one Link to comment Share on other sites More sharing options...
Slappy Posted March 2, 2007 Report Share Posted March 2, 2007 It's been a tough week i the metal stocks, but I have come away with one major insight. The next time I see a lot of financial gurus: saying "This is it; GOLD 4 Figgers", 'Yaget chasam silbah", "Gol tada mun", et cetera.... I'm going to SELL as fast as I can type..... *( posting this for now, don't go away Doc, I'm still digging for an illustritive Friday style pic...) Link to comment Share on other sites More sharing options...
crazy_ate Posted March 2, 2007 Report Share Posted March 2, 2007 From Roubini... The subprime credit risk shock is now having contagious effects for other financial institutions credit spreads. For example, Goldman Sachs' 5yr CDS spread that was in the low 19-22 range between September 2006 and January 2007 has now shot up to the 32-35 range in the last week, a stunning increase. This is the beginning of a serious contagion from subprime to other major credit spreads. As Bloomberg is reporting today: Goldman Sachs Group Inc., Merrill Lynch & Co. and Morgan Stanley, which earned a record $24.5 billion in 2006, suddenly have become so speculative that their own traders are valuing the three biggest securities firms as barely more creditworthy than junk bonds. Prices for credit-default swaps linked to the bonds of the New York investment banks this week traded at levels that equate to debt ratings of Baa2, according to Moody's Investors Service. For Goldman, Morgan Stanley and Merrill that's five levels below the actual Aa3 rating on their senior unsecured notes and two steps above non-investment grade, or junk. Link Link to comment Share on other sites More sharing options...
Slappy Posted March 2, 2007 Report Share Posted March 2, 2007 I saw this earlier today but can't find a real source for the info.. 28% of WM's loan portfolio is comprised of sub-prime paper. Dumb. 8.8% stop @ appx $48.50. Target $0. ;-) Where I saw it.... The world must be full of the stuff... Link to comment Share on other sites More sharing options...
lineup32 Posted March 2, 2007 Report Share Posted March 2, 2007 Fremont General Corporation (the "Company") could not file its Annual Report on Form 10-K for the fiscal year ended December 31, 2006 by March 1, 2007 without unreasonable effort or expense for the reasons set forth below. In light of the current operating environment for subprime mortgage lenders and recent legislative and regulatory events, Fremont Investment & Loan, the Company's wholly owned industrial bank subsidiary ("FIL"), intends to exit its subprime residential real estate lending business. Management and the board of directors are engaged in discussions with various parties regarding the sale of the business. Additionally, the Company expects that it, FIL and the Company's wholly owned subsidiary, Fremont General Credit Corporation ("FGCC"), will enter into a voluntary formal agreement, to be designated as a cease and desist order (the "Order"), with the Federal Deposit Insurance Corporation (the "FDIC"). Among other things, the Order will require FIL to cease and desist from the following: o Operating with management whose policies and practices are detrimental to FIL; o Operating FIL without effective risk management policies and procedures in place in relation to FIL's brokered subprime mortgage lending and commercial real estate construction lending businesses; Link to comment Share on other sites More sharing options...
LeeWhee Posted March 3, 2007 Report Share Posted March 3, 2007 6:06 [FMT] Fremont retains Credit Suisse as financial adviser6:06 [FMT] Fremont in talks to sell certain subprime lending ops 6:05 [FMT] Fremont to exit subprime residential real estate lending 6:08 [FMT] Fremont General shares down 16% to $7.28 in late trading 6:08 [FMT] Fremont continues to originate commercial real estate loans A little late!!!! 564855[/snapback] Fremont has been down this road before. Check out the infamous "double hump" pattern. Probably bounce at around 5 bucks. Don't follow this fine company, but was that double-top at $29 a short or was that a short? Fair, orderly markets. Definitely a stock for the long run..if you're a downhill skier. Link to comment Share on other sites More sharing options...
seamus Posted March 3, 2007 Report Share Posted March 3, 2007 Chatted up a neighbor on the walk home from the train tonight...he is a lawyer for a bank in their securitization area. To the point, there are a number of I Banks sitting on loans that are bleeding and there is no letup in sight. CSFB mentioned primarily (first interview on the street in the 80s with the old First of Boston - what a shop then). The music has stopped and whoever is sitting on the collateral will get gored - no two ways about it. Link to comment Share on other sites More sharing options...
mmoy Posted March 3, 2007 Report Share Posted March 3, 2007 Why was AMD down over 4% today when the $SOX was down only 1.77%. AMD made new lows today due to the filing of a preliminary proxy statement today with the SEC. One of the items, #3, is to increase the number of authorized shares of common from 750m to 1.5b. So much for that rumor about a leveraged buyout. I thought about hopping on short this week but I'm still impacted by the flu and busy at work. AMD could get back near $15 for OEX but anyone holding AMD is holding a time bomb WHEN, not IF, they do their secondary. Shareholders have to vote on it I think but I don't think that shareholders really have a choice. I am expecting an upside surprise in Intel's earnings reports but have no idea if the upside earnings are factored in. Link to comment Share on other sites More sharing options...
jickiss Posted March 3, 2007 Report Share Posted March 3, 2007 jickiss is back! and, ohmigod, what a week for da Metal! naturally, the Track crybabies who are, or who were, long either GLD, or any of the Miners, all sold weakness. so, what else is new???? lets be clear on one thing: all them that are old enough to recall the Last Great Gold Bull Market, dream of buying Miners that will advance geometrically. these same imagine that gold will, lets say, double, while Their Miners will go up 4 times or 8 times, or whatever. When some, (like Sinclair) made Fortunes in the first great gold bull market, they were able to borrow money and earn dividend yields on the South Africans that were 25% or whatever. easy pickins, if you had nerve and belief in gold. That was the first great carry trade. now, however, things are different. Look at the crappy dividends from, for instance, a firm like GG. what is it, $0.015 per month, before some disappears back across the Border? a real joke if there ever was a joke in the trading/investing arena. HooHa, indeed. your jickiss has posted many times that the ONLY THING THAT MATTERS IS THE RATIO OF YOUR MINER vs GOLD. using GG as a proxy, this ratio has continued to drop. Why, jickiss, why? 3 Big reasons spring to mind, there are others, but 3 spring to mind. 1. Rob was moved out of GG. The new mgt is working for da Boyz. If your jickiss had been running GG, instead of the current bunch, the GG shares would have printed $70.00 long ago, via repurchase of shares and storage of gold mined at much lower prices. Instead, all the GG shareholders have gotten is a BIGGER enterprise with 702,000,000 shares outstanding, coupled with a stock that can not, today, get out of its own way, as the savvy imagine they are about to get jammed into another giant acquisition. 2. That fairly recent Big (Black Scholes theory) Article or Paper that Explained that the HUI proxy is like an ?in the money? call on Gold. This article has caused the more responsible money managers to think twice about the valuation levels of all of their Major Size Miners, for, on the face of it, the Logic of that article is hard to defeat, as long as da Metal is below $700. 3. The Metal price in paper is so different from what Kitco will sell Real Physical Gold for as to demand an explaination.......but the Black Boxes do not care. Meanwhile, the public is like a bunch of losers, they buy high and they dump at every turn down. Most, back to the idea of a crash in da Broads, are on margin in their golds, for, after all, they Really do need 8 times or 16 times the value of the equity in their accounts to keep up with what they know is coming. ok, jickiss, tell us the future, tell us what will happen, or shut-up! Fair enough. The Future will become Obvious and Clear when the yields on the 10 and the 30 year instruments begin a clear and obvious Uptrend. Unless and until that happens, NOTHING WILL CHANGE. FOR SURE, FOR THE RECORD, MARKY MARK HIMSELF has covered these pages with Glory, for he has very correctly said that the Bonks and the Brokers have held up in the shares markets, and unless and until they really break down, there ?aint gonna be a Broads Crash.? he has been, is, and will be 100% plus correct on this concept, idea and prediction, for which he deserves very great credit and recognition. Never once has he wavered in this critical and prescient observation, which is on the order of the kinds of things that Mr. Dines did in the first great gold bull market. Of course Mr. Dines has moved over to the Dark Side with the uranium stocks, whilst your jickiss, seeming to ever and forever enjoy playing the role of the Fool, repeats endlessly, ?Hold Fast, Hold Fast.? your jickiss is a Fool. But in One Major Way Only. When the Great Bull Market in Bonds began, your jickiss was 30 years old, or so. This has been the Key Event in most of our lives. A few, some who were at AIG, some with CBS, some in Real Estate, figured out what this meant, and had a sense of what it could do. This means that in the beginning, in the 80s and 90s, it did not matter how much dollar money any one borrowed, for all that money was worthless, and the cost to borrow more would always be dropping. Got that? For all of these long years since your jickiss was about 30 years old, Gold has been pure BS. Paper has been king. Gold has been a joke. Now, the movie is about to run backwards. Control of Gold will matter now, not control of printing more paper, for the days of the limitless printing of more paper draw now to an end. Back in the days of Nixon, paper was made to trump Gold. Soon enough, it will be Clear that Gold will again be used to Back Paper. First, however, a Violent Transition will have to be made to happen to achieve this end. Since your jickiss is writing in terms of the Plain Vanilla rule here, this is a good point to stop, not for a lack of many more things to say, but for the sake of keeping to a mere outline of the potentials ahead. The best thing to do is to just look at the following Point and Figure of GG, presented here as the Proxy for all of the miners and miners related. There was a clear end to the First Step up. Then, we have had to endure the second Step Down. Now, we are ready to see GG move to around $66, maybe more, which will be Step 3. For GG to do this, the earnings basis of Valuation for the shares will be given up, replaced by an Asset Valuation Model. This will break the Logic of the Black Scholes ?In the Money Calls Eqivalent? article, and it will TRANSFORM the chart of GG, which will be clear to you if you use your imaginations when you look at the same. There really are Acres of Diamonds Ahead, if you can just Hold Fast! Maybe, However, you are afraid, or confused. That is Fine. If you do not know how to Hold Fast or you do not Know What to do, then start by doing the Following: Open a Margin Account and own GG, NEM, ABX, TRE, RGLD as a package. Never Sell any shares in this account until the Metal is around $1,000 the oz. Meanwhile, with the Day Trade Buying Power in your account, Trade inter day after every vicious smack-down of the Metal and the Shares, but only inter day. Take losses if you must on the inter day, but if you start buying After the smack downs, you will be fine. Then write down the exact market value of such an account, and then tell us all how much percent you have made when the metal is near to $1,000. Hold Fast to the initial shares, however, no matter what you think or no matter what lies you hear. Hold Fast! Acres of Diamonds are Ahead! love, jickiss!!!!!!! Below should be the chart of GG: Link to comment Share on other sites More sharing options...
DrStool Posted March 3, 2007 Report Share Posted March 3, 2007 To the point, there are a number of I Banks sitting on loans that are bleeding and there is no letup in sight. CSFB mentioned primarily (first interview on the street in the 80s with the old First of Boston - what a shop then). 564864[/snapback] Albert Wojnilower - Dr. Death. Back then, everybody was a stoolie. But that was nothing. You shoulda been around in the seventies. Those of us who cut our teeth in that market were forever scarred by it. :lol: The first stoolies were really guys like Granny and Richard Ney. Damn. Those were the days. Link to comment Share on other sites More sharing options...
wndysrf Posted March 3, 2007 Author Report Share Posted March 3, 2007 Bank covenant violation at NEW. That's a sure bet of a Ch. 11 or Ch. 7 NEW down $3.75 AH Amazing how fast things deteriorate. Story Link to comment Share on other sites More sharing options...
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