Official Stock Market & Economy Thread

[dunkman23]

DKY - how do you feel about PALM or RIMM would you consider these good buys right now

 

[qpitfighter]

Well, I always felt that USO was a long term hold... well at least till summer. So it's good to see it climbing. Financial stocks were just way oversold.That was the problem before. Those with balls who held or bought into FAS in the last week or so are doing well now.

 

[mnmballa2323]

Originally Posted by Qpitfighter

Well, I always felt that USO was a long term hold... well at least till summer. So it's good to see it climbing. Financial stocks were just way oversold. That was the problem before. Those with balls who held or bought into FAS in the last week or so are doing well now.

i baught FAS at $4, and sold it at $5.50

just baught FAZ at $35...do u think it will jump this week

..i figuredat $35 its bound to go up sooner or later lol.

 

[truth 15]

I know I'm not DKY but, PALM is a good buy its going to 10 easy, don't care much about RIMM. FAS is a hold for me, important level I'm looking atis dow 7500 and S&P500 780. I tihnk this rally has legs and we'll see 7800.

 

[dajoka004]

Originally Posted by truth 15

I know I'm not DKY but, PALM is a good buy its going to 10 easy, don't care much about RIMM. FAS is a hold for me, important level I'm looking at is dow 7500 and S&P500 780. I tihnk this rally has legs and we'll see 7800.

Nope. We're done. Market crashing right now. I wish I wasn't in class when it did, but I got out at a decent enough moment.

Just bought FAZ. Go down!

 

[fede dpt]

I would hope these banks record a profit with receiving billions in bailouts and the ability to "write off" these loans, these wont last.

 

[lazyj10]

The disclosures is what I'm curious about. Are they going to be "one time charges", etc.

 

[brettthejett]

wow my MS stocks went from $32 to $23...

i did a short on them @ 17.80 for 500 hahaha hopefully they continue to DROP

 

[finnns2003]

lol, I hope anyone who had stock in AIG got rid of it all. it's about as worthless as dog feces now. under a dollar, good gracious they've fallen.

 

[wizards23]

Originally Posted by MnMballa2323

lol yeah..well i just sold FAS and picked up FAZ because FAZ is almost at a 52 week low and its bound to go up sooner or later.

you didnt read the How to Make Money in Stocks book did you?

EDIT: SRS did good for me today.

 

[theone2401]

Its concerning that the Nasdaq isnt moving up with Dow and the S&P...this might roll over soon. IMO any rally led by the Financials before somethingfundamentally gets better in the Financials is for suckers.

 

[dunkman23]

faz did good for me

 

[throwedindagame]

Is the market really crashing soon? I was pissed when the dow went up the past few business days. I missed a lot of opportunities. Maybe i can redeem myself.

 

[theone2401]

But the rumor and sell the news on the FASB changes to market to market....It seems that is what everyone else is doing.

Seriously do they thing that changing market to market is going to make more people willing to invest in banks?

who is running this country?

 

[reigndrop]

Originally Posted by theone2401

But the rumor and sell the news on the FASB changes to market to market....It seems that is what everyone else is doing.

Seriously do they thing that changing market to market is going to make more people willing to invest in banks?

who is running this country?

It's ridiculous what people are doing. When analyzing balance sheets, analyst are already taking into account losses and forecasting potential writedowns. Changing it now won't do it any good, so to see investors flying in there like the economy is all fine again is absurd.

 

[dajoka004]

Tomorrow should be telling, no?

 

[reigndrop]

Originally Posted by wizards23

Originally Posted by MnMballa2323

lol yeah..well i just sold FAS and picked up FAZ because FAZ is almost at a 52 week low and its bound to go up sooner or later.

you didnt read the How to Make Money in Stocks book did you?

EDIT: SRS did good for me today.

I honestly don't think that's a bad buy regardless of some rules to look after. Last time FAZ was at it's 52 week low, BAC was wellabove $10, and C was well above $5, as well as other financials having a higher equity price. Also, then, the Dow was at 9000, and I'm pretty sure barringsome great equity inflation, we will not be there anytime soon. There are no gurantees though!

 

[theone2401]

[h1]'It's Asinine:' Bank CEOs Burning Mad as Geithner Fiddles[/h1]Posted Mar 16, 2009 02:41pm EDT by Aaron Task in Investing, Newsmakers, Recession, Banking
Related: WFC, JPM, C, BAC, BCS, XLF, FAS

"As Americans recover from the shock and disgust of this latest [AIG] revelation, they will justifiably ask who got us into this mess," writes Henry Blodget. "The answer, in part, is the same man who has yet to come up with a coherent plan to get us out of it: Tim Geithner."
Fear not, Henry!

Geithner told Bloomberg TV this weekend he will "move quickly to lay out a new financing program" to help banks deal with their toxic assets.

In other words, Geithner still hasn't put the finishing touches on the "Financial Stability Plan" he announced in mid-February to rousing condemnation because it lacked detail. More to the point, Geithner still doesn't have a coherent plan he's willing to share a year after the Bear Stearns-JPMorgan shotgun wedding. (And don't kid yourself, first as President of the NY Fed, and now at Treasury, Geithner has been actively involved in every bailout - and non-bailout - of the past 12 months.)

Similarly, Geithner & Co. have yet to unveil their new blueprint for regulating banks. But, again, it's coming soon: "We want to accelerate the pace of change on the reform agenda," Geithner said at this weekend's meeting of G20 Finance Ministers.

The plan is to unveil the new regulatory framework at the full G20 summit on April 2, The Wall Street Journal reports.

While Geithner fiddles, bank executives are burning mad over what they see as onerous regulations and micromanaging from Washington D.C. They're especially angry now that the government's aid has allowed them to generate profits in early 2008 (excluding write-downs on toxic assets.)

"Is this America -- when you do what your government asks you to do and then retroactively you also have additional conditions?," rails Wells Fargo CEO Richard Kovacevich, according to Bloomberg.

Kovacevich also called the ongoing stress tests "asinine" and complained (again) about being forced to take TARP money back in September -- and all the accompanying restrictions on executive pay and employee junkets (err, off-sites).

One response to Kovacevich - and other executives like JPMorgan's Jamie Dimon who've complained about TARP-related restrictions - is simple: If you don't like it and don't need it, just return the money.

But the reality is bank executives do have a point about onerous government intrusion. The funny thing is this doesn't happen when the government puts insolvent banks under full FDIC receivership, as it did last year with WaMu and IndyMac; that it is happening now suggests yet another peril of the partial nationalization that's occurred for so many others.


Does anyone miss Paulson

(barfing as I type)

So anyone wiling to make a big bet that the last week in financials was more then an pump and dump of epic proportions?

 

[nicefro]

Originally Posted by reigndrop

Originally Posted by wizards23

Originally Posted by MnMballa2323

lol yeah..well i just sold FAS and picked up FAZ because FAZ is almost at a 52 week low and its bound to go up sooner or later.

you didnt read the How to Make Money in Stocks book did you?

EDIT: SRS did good for me today.

I honestly don't think that's a bad buy regardless of some rules to look after. Last time FAZ was at it's 52 week low, BAC was well above $10, and C was well above $5, as well as other financials having a higher equity price. Also, then, the Dow was at 9000, and I'm pretty sure barring some great equity inflation, we will not be there anytime soon. There are no gurantees though!

A great buy of course, FAZ is good below $45 as SKF is below $130; I think what he meant was don't buy a stock because it's @ it's 52wk low, wouldn't have been wise to buy C because it was at its a few months ago.

 

[wizards23]

Originally Posted by nicefro

Originally Posted by reigndrop

Originally Posted by wizards23

Originally Posted by MnMballa2323

lol yeah..well i just sold FAS and picked up FAZ because FAZ is almost at a 52 week low and its bound to go up sooner or later.

you didnt read the How to Make Money in Stocks book did you?

EDIT: SRS did good for me today.

I honestly don't think that's a bad buy regardless of some rules to look after. Last time FAZ was at it's 52 week low, BAC was well above $10, and C was well above $5, as well as other financials having a higher equity price. Also, then, the Dow was at 9000, and I'm pretty sure barring some great equity inflation, we will not be there anytime soon. There are no gurantees though!

A great buy of course, FAZ is good below $45 as SKF is below $130; I think what he meant was don't buy a stock because it's @ it's 52 wk low, wouldn't have been wise to buy C because it was at its a few months ago.

yeah well explained. thats what I was getting at.... lol

 

[reigndrop]

Originally Posted by wizards23

Originally Posted by nicefro

Originally Posted by reigndrop

Originally Posted by wizards23

Originally Posted by MnMballa2323

lol yeah..well i just sold FAS and picked up FAZ because FAZ is almost at a 52 week low and its bound to go up sooner or later.

you didnt read the How to Make Money in Stocks book did you?

EDIT: SRS did good for me today.

I honestly don't think that's a bad buy regardless of some rules to look after. Last time FAZ was at it's 52 week low, BAC was well above $10, and C was well above $5, as well as other financials having a higher equity price. Also, then, the Dow was at 9000, and I'm pretty sure barring some great equity inflation, we will not be there anytime soon. There are no gurantees though!

A great buy of course, FAZ is good below $45 as SKF is below $130; I think what he meant was don't buy a stock because it's @ it's 52 wk low, wouldn't have been wise to buy C because it was at its a few months ago.

yeah well explained. thats what I was getting at.... lol

I realized that, that's why I noted the rules

 

[rexmakesbeats]

will rally tomorrow or is the bear rally done?

 

[reigndrop]

Originally Posted by shookONEZ

will rally tomorrow or is the bear rally done?

Nobody knows. You'll just have to wait and see. It's not like we can do anything right now anyway.

 

[wawaweewa]

Possible scenarios using EW.

From evilspecualtor:

From Prechter:

Also, Put-Call v. DJI ratio chart

personally I think retrace to 740, maybe pivot at 721 then back to 800. after that major down leg to around 600 or 550.
Lookin eerily similar to late Nov-Jan action.

 

[dajoka004]

Housing starts surge 22% on apartment building

And they are trying to spin it as a good thing. Last month housing starts went down, and they spun that as good too.