Drew
Sammamish, WA
Wine Bottler
Posts:3197
 | | 03/04/2008 2:29 PM |
| AAPL - $121 - I can't see it dropping THAT much more?!?
GOOG - $437 - droppin' like it's hot, dropping like it's hot
MSFT - $27 - actually up a little today. Yahoo, yahoo, yahoo... ugh. It was at $37 a couple of months back, damnit.
YHOO - ~$28 - still don't get this one; if the deal tanks, Yahoo's stock is going into freefall | | | |
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love_cab_chard
Master of Wine
Posts:12501
| | 03/04/2008 5:33 PM |
| | I am still waiting for my entry point. It is approaching that double bottom that I've been waiting for as the lows of late Jan (~11,600). Then, I jump in both feet. | | | |
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Drew
Sammamish, WA
Wine Bottler
Posts:3197
| | 03/10/2008 3:48 PM |
| | Almost there... 11761. MSFT is bouncing up today, but GOOG is still dropping like a pair of Elliot Spitzer's pants :-D | | | |
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Budman
Master of Wine
Posts:11879
| | 03/11/2008 2:58 PM |
| | Boing!!!! | | | |
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ChillyWino
Barrel Racker
Posts:1701
| | 03/11/2008 3:47 PM |
| | Time to re-short? Looking juicy again. | | | |
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love_cab_chard
Master of Wine
Posts:12501
| | 03/11/2008 6:41 PM |
| This 2nd leg down, double bottom is what I was waiting for actually. I bought some today for a 3-5 year outlook.
I did not go all in (YET). I will wait to see what happens the next 4-6 weeks. Depending on what happens, I will add to my holdings or stay as is if stocks don't back down in the next 4-6. | | | |
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love_cab_chard
Master of Wine
Posts:12501
| | 03/14/2008 12:34 PM |
| | Even on the day like today (see BSC news), the resist level seems to be 11,700-800. If broken, I will wait to + to positions. If not, I wil wait 4-6 & probably + @ that time. Financials will make up most of my holdings over the next 3-5 years. That's the plan @ least. | | | |
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Drew
Sammamish, WA
Wine Bottler
Posts:3197
| | 03/14/2008 8:14 PM |
| | Three cheers for Bear Stearns!!! | | | |
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love_cab_chard
Master of Wine
Posts:12501
| | 03/17/2008 12:19 PM |
| BSC = WOW!
This is sick. I work right here on Wall St, 1 block from NYSE & EVERYONE & I mean EVERYONE is shocked. People are saying they have never seen anything like it. Wall St warriors are shocked. BSC taken out for $2/share & down 100% today.
WOW! What a deal by JPM. BSC taken out for $200 Mil, 15K employees. And, the building itself in mid-town is worth $1Bil. WTF???
Some here as saying either this is the bottom (a big bankruptcy like this) or who is next??? - LEH?
Still, obvious resistence level @ 11,700-800. If that's broken, look out below. :-) | | | |
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DukeRiley
McMinnville, OR
Barrel Sampler
Posts:2000
| | 03/17/2008 1:30 PM |
| This is very reminiscent of several of the bank takeovers in the 80's. Remember the Penn Square debacle? Remember the Texas housing implosion? I think this action should have a more positive impact than another rate cut. The Fed is showing that they will find a way to protect the solvency of the market.
The big problem is that no one has any idea what a lot of these assets are worth, and no one wants to take a chance - probably prudent at this point. The problem is compounded by sloppy back-office work/documentation on the assets in question. Without the Fed's "bail-out", BSC would be insolvent today. Hopefully this gives market participants time to sort things out. This may not be the last time the Fed needs to step in... | |
Heater Allen Brewing
www.heaterallen.com | |
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juggernt
Tampa, FL, USA
Wine Bottler
Posts:3421
| | 03/17/2008 3:28 PM |
| Posted By Drew on 03/14/2008 8:14 PM
Three cheers for Bear Stearns!!!
Three cheers. Or two dollars.  | |
Visit The Butcher Block at http://www.butcherblocktampa.com/ | |
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Drew
Sammamish, WA
Wine Bottler
Posts:3197
| | 03/17/2008 3:43 PM |
| | Gotta love that DBS froze new transactions on Lehman this AM... then said they'd evaluate on a case by case. Strange thing is that the links to those reports are all but impossible to find on WSJ now. When I saw the initial Bear Stearns deal, I had a feeling something was up, but good god - a straight $200M for everything? Either something funny is going on or there's a lot more to this than everyone realizes. | | | |
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Vine
Milwaukee, WI
Grape Fermenter
Posts:693
| | 03/18/2008 12:50 AM |
| "Either something funny is going on or there's a lot more to this than everyone realizes."
The latter.
You know it's gettin' ugly when the super rich are cashing out and investing into long term bonds...
...and when the fed throws 200 billion into Wall Street...*edit* | | | |
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Drew
Sammamish, WA
Wine Bottler
Posts:3197
| | 03/18/2008 11:00 AM |
| | Am I the only person in America that thinks a 75 to 100 bpp drop is unrealistic? 50 bpp seems much more realistic and gives some leverage for later? | | | |
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DukeRiley
McMinnville, OR
Barrel Sampler
Posts:2000
| | 03/18/2008 11:22 AM |
| | I don't think that dropping the Fed Funds rate helps much at all. Certainly the first 200bp didn't. From a financial meltdown standpoint, the BSC action was much more significant and effective than dropping rates. Economists say that a Fed rate action doesn't effect the economy for 18 to 24 months. We need help now. In fact a rate cut may hurt, as it steepens the yield curve and raises fixed mortgage rates. Certainly the drop in the dollar doesn't help our standard of living since we import almost everything. | |
Heater Allen Brewing
www.heaterallen.com | |
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Drew
Sammamish, WA
Wine Bottler
Posts:3197
| | 03/18/2008 11:26 AM |
| | I'd agree. We're headed to Spain in April and I'm having a coronary watching the Euro conversion rates. $1 = 1.58E. ugh. | | | |
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love_cab_chard
Master of Wine
Posts:12501
| | 03/18/2008 12:45 PM |
| Not to mention that the Fed committed, what like $400+Bil of tax payer money to bail out the companies from themselves & the problems they brought upon themselves & created all on their own. And, the question raised by some, will they (Fed) have enough money. Well, they say, the gov't will print more??? Duh?!? Already the dollar is pretty much worthless. And, that means inflation will go up. You can't just print money. Among other negatives. They will lower a point today down to 2%. Not much room to play with going forward.
And, that is true, rate cuts take 6-9 months to work. | | | |
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Drew
Sammamish, WA
Wine Bottler
Posts:3197
| | 03/18/2008 1:23 PM |
| | Call me nuts, I'm still at 50 bpp! | | | |
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DukeRiley
McMinnville, OR
Barrel Sampler
Posts:2000
| | 03/18/2008 4:00 PM |
| LCC, I don't think you'd call this a bail-out if you were working for BSC. Most had their life savings invested in the company, so they're feeling a lot poorer right now. Maybe the government needs to put a tax on assets under management (something similar to FDIC) to get paid back for bailing the industry out. In the meantime, inflation is already an issue. I heard the other day that if we measured inflation like we did in the late 70s, the current rate would be over 10%.
So the Fed goes 75bp, using up 75% of their room to zero. The result? According to Bloomberg, mortgage rates are unchanged. I think they're pushing on a string. | |
Heater Allen Brewing
www.heaterallen.com | |
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rjs3
NJ
Barrel Filler
Posts:1124
| | 03/19/2008 1:10 PM |
| | I make sure I move the company match company stock in my 401(k) out and into funds (not that they are necessarily a better choice) on a regular basis. At least I dont have all my eggs in one basket. | | | |
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