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09-30-2008
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If they buy it back to 1140 or 1150 I'm going to consider that a gift and get short. It's a very speculative bet with a relatively close stop. Usually the kind of day we had yesterday would be the all clear buy signal, but (famous last trading words) "I think it's different this time" 
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09-30-2008
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They got it up to about 1145 spy, I wonder if they can do any better than that ?
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09-30-2008
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John
Ontario 32 - Aria
Free, is the heart, that lives not, in fear.
Full, is the spirit, that thinks not, of falling.
True, is the soul, that hesitates not, to give.
Alive, is the one, that believes, in love. JCP
Music on the Wind -
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09-30-2008
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Wandering Aimlessly
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Join Date: Nov 2002
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You're Joe Blow Investments and got a bunch of bad paper. Big Bank stops by and offers you 20 cents on the dollar for it. But ....... you know the government is working on a plan to buy it. And, knowing your government, you know, you'll get twice as much or more from them. So, what do you do?
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John
Ontario 32 - Aria
Free, is the heart, that lives not, in fear.
Full, is the spirit, that thinks not, of falling.
True, is the soul, that hesitates not, to give.
Alive, is the one, that believes, in love. JCP
Music on the Wind -
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09-30-2008
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STARBOARD!!
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Quote:
Originally Posted by Rickm505
Here you call it a heist. In the last paragraph, you actually advocate the bailout. Which is it??
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What I was trying to say is that the "bailout" should be strictly in the form of a loan; with guarantee that the gov gets principal+interest on their investment to shore up the mortgage securities. I think this is a heist of sorts; that had begun with Fannie/Freddie going under and it was the last attempt to suck as much money out of the Fed before the election as possible. But the Democrats want it to be bi-partisan so they are not blamed later when everyone realizes what occurred. It was THEIR failed economic policies of forcing sub-prime loans that caused this mess; yet Obama calls it Bush's fault. That's BS and the request for the 700B is an attempt to solve a problem they created (which IMHO is 700B of earmarks for the Democratic party).
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09-30-2008
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Quote:
Originally Posted by wind_magic
They got it up to about 1145 spy, I wonder if they can do any better than that ?
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1155, I'm in. 
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09-30-2008
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Quote:
Originally Posted by wind_magic
1155, I'm in. |
Thought you were going to wait until the VIX got to 1,000,000.
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09-30-2008
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Quote:
Originally Posted by sailhog
Thought you were going to wait until the VIX got to 1,000,000.
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I'm in short. It's contrary to what I would normally do with a day like yesterday which seemed like capitulation. Usually when I do something I wouldn't normally do it ends badly.
I'll be keeping a close stop, because we usually get a rally after such a big move down.
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09-30-2008
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Wandering Aimlessly
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According to Obama, out in Nevada today, passing the bailout is only the beginning of what he'll do for the economy. Form your own opinion on that.
__________________
John
Ontario 32 - Aria
Free, is the heart, that lives not, in fear.
Full, is the spirit, that thinks not, of falling.
True, is the soul, that hesitates not, to give.
Alive, is the one, that believes, in love. JCP
Music on the Wind -
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09-30-2008
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Wandering Aimlessly
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Join Date: Nov 2002
Location: Cruising
Posts: 13,478
Rep Power: 12
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I'm confused. Why is the Dow going up, when it's the end of the world? Dance band on the Titanic?
__________________
John
Ontario 32 - Aria
Free, is the heart, that lives not, in fear.
Full, is the spirit, that thinks not, of falling.
True, is the soul, that hesitates not, to give.
Alive, is the one, that believes, in love. JCP
Music on the Wind -
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