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PALM shorted 4000 @ 8.96
Correction: Ticker in Post 25 should read DHI
Trade opened: Palm sell short 4000 limit 8.96
COF shorted 4000 @ 8.94
Late report - this trade was filled at the open on Mon 23 March following the limit order posted on here Sat 21 March.
Trade opened: DHI sell short 4000 limit 8.00
thread header updated with yesterday's closing prices
USO bought 1200 @ 46.93
Trade opened: USO buy 1200 limit 47.00 GTC
COF shorted 1000 @ 42.00
Trade opened: COF sell short 1000 limit 42.00
Of course peak oil isnt to blame for the credit crisis.
1) Modern govts abused the fractional reserve banking system to live off debt.
2) Modern govts debt grew so big that the interest became large enough to be a problem. IE they had to get into more debt to pay their debts off. Like using one credit card to pay off another.
3) Modern govts brought interest rates down due to their own aforementioned debts, and resulting liquidity set off a huge asset bubble mainly in housing, but latterly in commodities.
4) The bubble is now doing what bubbles do.
FNM covered 2000 @ 0.90
Trade opened: FNM buy to cover 2000 limit 0.90 GTC
I don't know about the motives of the person writing that report, but conventional wisdom is that there are enough reserves to produce oil at current rates for decades.
Refinery capacity is the current limiting factor accounting for why production dropped slightly in the last 12 mths.
Not a bad sign at all.
They did this before in Mar 2007.
Allows the company to realise more funds than if sold in the normal market as price of flow thru shares is always above market price due to tax breaks for investors.
Here's an explanation of what flow thru shares are:
http://www.milliondollarjourney.com/how-flow-through-shares-work.htm
SLV bought 1500 @ 17.20
Filled 29/07/2007 as per GTC order posted on evening of prev day. I'm not always about to keep the trades and portfolio bang up to date, but will generally not let it get more than a few days stale.
Trade opened: SLV buy 1500 limit 18.50 GTC
Anyone know why BQI stock is halted?
Yes you are quite right that the company's own stock can be used to rpop or propel. But if a company is dependent on its own stock for its continuance then it is a sham. I don't buy the line that Bear was brought down by shorting. Rumours and a run on the bank maybe, but shorting no. If shoritng can bring an entity down, then it is already dead.
you have explained how naked shorting may have brought the share price down.
But how does it bring the company down?
The tail should not wag the dog. The company should be able to support itself regardless of its share price, otherwise it is a sham and deserves to go to zero.
Can you explain how shorters destroyed bear?
I thought it was their own balance sheet that destroyed them. The value of shares does not affect the balance sheet.
USO bought 300 @ 112.47
Trade opened: USO buy 300 limit 112.60 GTC
FNM shorted 500 @ 9.70
Trade opened: FNM sell short 500 limit 9.70 GTC
let's have some money off the dip buyers
Am mulling chasing gold higher here.
my thinking:
If FNM & FRE get bailed out, gold is going 1000+
If they fail, gold is going 2000+
I don't need to draw the channel lines on this chart:
The trend will work until it doesn't.
http://www.marketwatch.com/tools/quotes/intchart.asp?symb=USO&time=7&freq=1
USO sold 200 @ 118.50
Trade opened: USO sell 200 limit 118.50 GTC
The hedge funds having $4T is a direct result of the money supply. The govt created the prob, the funds are just using the money that the govt has created thru lax credit. Interest rates should be left to negotiation between lenders and borrowers, rather than played with by govts who want low interest rates for their own borrowing.
somewhere close to $0 I guess.
If you check the balance sheet and the losses then you will see they are overvalued. Too much credit in the system caused these problems. The rout will finish when we are undervalued by a similar margin to that which we were overvalued by, and all the excess credit is removed from the system. Long long way to go.
Have put the prices as of close of market in the thread header.
Oh we will always have all those things - but there will be a distinct lack of shareholders equity behind them.
USO bought 200 @ 110.80
FNM shorted 1500 @ 15.05
AXL shorted 4000 @ 6.96
Trades to enter at open on July 10 2008:
4000 AXL short sell limit 6.70 Good till cancelled (GTC)
1500 FNM short sell limit 15.05 GTC
300 GLD buy limit 91.90 GTC
200 USO buy limit 110.80 GTC
GM unshortable.
I haven't been able to unshort GM for a while as no shares available to borrow. This is annoying as I see every 1000 shares short in GM as $10000 profit when the impending bankruptcy arrives.
So i have been shorting AXL as a proxy for GM. AXL are heavily dependent on GM as a major customer. I expect them to face bankruptcy this year.
Anyone know of a screening tool where i can search for listed companies based on the amount of debt on the balance sheet?
There hasn't been a huge increas in demand for oil. Some say a tiy decrease but there's an argument for a small increase in demand.
But the supply side is falling, old fields are becoming less productive. With a product such as oil where demand is not elastic (as proven by UK example where forecourt prices have doubled in afew years to the equiv of about $13/gallon but people are driving more) it only takes a small reduction in supply to remove the equilibrim and shoot prices higher.
Oil production cannot be suddenly ramped up. Lead time from discovery to forecourt is restrained by availability of rigs, tankers, personnel, pipelines and refineries. These 5 factors are in high demand at present and it is real demand, not futures driven, so why should we assume the price of the underlying product is living in a different universe to the supply of its infrastructure? I see $200 oil before $100 oil. Maybe even this year.