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Broken Beer Steins Scatter Wall Street


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#406 An Ant

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Posted 17 March 2008 - 12:26 AM

Why does Fed need to help JPM to buy BSC for less than 240 MM ?

Even some ex Wall Street CEO might have that much in checking account.

#407 An Ant

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Posted 17 March 2008 - 12:29 AM

I'm perversely jealous of our Asian and European friends. I'm worried that my position will be down big time when the market opens--that it'll all be green by morning.

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Just imagine those who are holding inverse or double inverse mutual funds. :(

#408 Private Skidmark

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Posted 17 March 2008 - 12:31 AM

I swore I heard the same thing too. Yet no further followup.  When it rains it pours!

Wonder who get to walk out with these:

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Carlyle liquidation link.
The highest compliment you can pay a man today is that he’s a fairly convincing approximation of a real person.

"You trade physical gold with balls, not with a ruler, until your balls get pressed into ball oil and you're forced to obtain your meals from the dumpster behind the local Krispy Kreme. And then the sun comes out again." - Skidmark

"If you can't stand the heat, break the thermometer in the kitchen." - Benjamin S. Bernanke upon ceasing publication of M3 data

#409 stevieo

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Posted 17 March 2008 - 12:31 AM

Just imagine those who are holding inverse or double inverse mutual funds.  :(

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No need to imagine. Sold half my QID on Friday, and will probably sell the other half today.

#410 kiwibear

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Posted 17 March 2008 - 12:32 AM

1033.3

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estimate of S&P at week's end?

:ph34r: :( :(

#411 linrom

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Posted 17 March 2008 - 12:42 AM

Carlyle liquidation link.

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Caryle Capital, not the same thing as Caryle Group.

#412 Bungster

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Posted 17 March 2008 - 12:43 AM

Don't TAZ me Bro....... :lol: :lol:
"It's tough to make predictions, especially about the future" Yogi Berra
"If you believe people are rational beings, you will go through life frustrated and confused" Scott Adams
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#413 linrom

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Posted 17 March 2008 - 12:48 AM

Almost a record number on another message board; they must be busy trading ES all night long. :o

CME is probably one of those financial companies that will also trade at $2 sometime in the future.

It certainly won't help if politicians attempt to put in curbs on derivative trading, especially one as volatile as index futures.

#414 Dr.Correll

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Posted 17 March 2008 - 01:02 AM

May have been a stupid play bought i bought some Nova Gold (NG) on thursday with a tight stop seeing if it would continue in the sideways action. im Leary to be holding anything this week. I was curious would it be smart to hold on to some of these gold exploration companys? i thought maybe i could get some sort of bounce off that trend line from the Dec bottom....

 


#415 shorty

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Posted 17 March 2008 - 02:31 AM

"JPMorgan Chase stands behind Bear Stearns"

literally :o

now bend over! :P

thanks, here's yer two bucks!

:lol: :lol: :lol:

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#416 ChicagoBear

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Posted 17 March 2008 - 03:05 AM

"JPMorgan Chase stands behind Bear Stearns"

literally  :o

now bend over!  :P

thanks, here's yer two bucks!

:lol:  :lol:  :lol:

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Snippets (highlights are mine):
The U.S. Federal Reserve will provide financing for the transaction, including support for as much as $30 billion of Bear Stearns's ``less-liquid assets.''

``This is a serious crisis,'' said David Goldman, portfolio strategist at Asteri Capital. ``For Bear's stock price to go to effectively zero, contrary to market expectations, even at the close on Friday, tells us that something is systemically very wrong and we're at a very dangerous moment.''

JPMorgan Chief Financial Officer Mike Cavanagh said on a conference call after the sale was announced that the bank was comfortable with the values Bear Stearns had assigned to the mortgage-related assets on its books. Asked to explain why JPMorgan was paying about $2 a share for a company with a book value of $84 a share, Cavanagh said the price reflected the risk the firm was taking.

Bear Stains was toast.
If you believe that they would not have done this deal without ensuring that JPM could swallow it, then it implies JPM was in good financial shape and expects this move to make it stronger. I've had the crosshairs on JPM for a while and have been proven wrong each time. This transaction actually makes me think they might be better off than I thought.
But alas, I am an ignorant SOB. I think they're full of it. JPM will be a trophy in the short-selling hall-of-shame. Their time will come. Patience - grasshoper.
If we don't change our direction, we're likely to end up where we are headed.
It wasn't raining when Noah built the Ark.
"and the vicious cycle will feed on itself in an orgy of cannibalistic self destruction until even the skeletal remains of the system are ground into powder." - Doc, 3/2/09

#417 shorty

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Posted 17 March 2008 - 03:08 AM

in '87 the 30yr yield peaked at 10%, T-bills 6%, Fed was jacking rates

now 30yr near 4.2%, 10yr 3.3%, T-bills 1.1%, Fed is gonna chop more

lower dollar is good for U.S. multinational stocks like Big Blew, etc.

likely we're gonna morph into a Weimar run here

wndy vindication

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#418 ChicagoBear

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Posted 17 March 2008 - 03:16 AM

Wow - I am amazed! The world markets are crashing and heading towards the US in a few hours, and Stoolies are sleeping (except for Shorty). I guess I could use the sleep too, but it's not everyday that my long gold and short dollar positions pop for 6 figures before the market even opens. Not trying to brag - just share a celebration.
Maybe I need to splurge and go get a few sliders from the White Castle. :P

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If we don't change our direction, we're likely to end up where we are headed.
It wasn't raining when Noah built the Ark.
"and the vicious cycle will feed on itself in an orgy of cannibalistic self destruction until even the skeletal remains of the system are ground into powder." - Doc, 3/2/09

#419 stevieo

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Posted 17 March 2008 - 03:26 AM

Crappy dollar is bad for the trade deficate. Means higher earl.

#420 shorty

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Posted 17 March 2008 - 03:32 AM

Wow - I am amazed!  The world markets are crashing and heading towards the US in a few hours, and Stoolies are sleeping (except for Shorty).  I guess I could use the sleep too, but it's not everyday that my long gold and short dollar positions pop for 6 figures before the market even opens.  Not trying to brag - just share a celebration. 
Maybe I need to splurge and go get a few sliders from the White Castle. :P

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gonna take any partial short-term profits here then reamenter on the reamtracements?

or let 'er all ride?

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