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Looks right to me
shares pps Cost value 8/10 gain/loss
FAS 12550 39.7 498235 940,372 -442,137 -89%
FAZ 9351 53.25 497941 239,853 258,088 52%
Total 92.95 996,176 1,180,225 -184,049 -18%
edit: sorry must be a better way to post this
Freddie Mac Reports Positive Income?
David Urani, Research Analyst
It seems impossible, but before preferred stock dividends, Freddie Mac in fact reported $768.0 million of profit versus a $9.9 billion loss last quarter; the stock is up more than 80.0% today as a result. Unfortunately, the result can't be taken at face value seeing as the gain was almost entirely the result of changes in mark-to-market accounting rules that drastically reduced credit expenses and increased asset values. Otherwise, delinquency rates on mortgages are still rising, albeit at a slower rate. Nevertheless, the good news is the that company will not have to ask the government for more money this quarter, taking away some probability that it will eventually be taken over by the government (although we still wouldn't rule it out due to political reasons).
For you Yak. SPG- short
well this show sucked. Finished my popcorn and wine and now I'm talking to myself. Goodnight self.
Put on some music and repeat after me: It's all in my head, it's all in my head, it's all in my head......
Oh! You're dancer too?
Sorry, couldn't help myself.
I went and made some popcorn, poured a glass of wine. I'm ready to kick back. LOL
interesting perspective on US/China financial situation:
http://articles.moneycentral.msn.com/Investing/SuperModels/mad-world-chinas-bind-is-ours-too.aspx
PHM I checked for some news that would make her run:
From Tues
Pulte Homes Inc. yesterday reported its second-quarter loss widened to $189.5 million, or 74 cents share. Revenue fell 58 percent to $678.6 million.
The average price for a Pulte home in the second quarter was $261,000, 8.7 percent lower than in the same period a year earlier, the Bloomfield Hills, Michigan-based company said.
New orders fell 34 percent to 3,367 homes and closings in the quarter fell 54 percent to 2,500, Pulte said. The value of Pulte’s backlog, or homes under contract and not yet sold, fell 56 percent to $1.06 billion.
PHM - take a look now
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=40290126
GM guys.
I guess the question of the day, since the recession is "officially" over, is the market still over priced? And will SPX break resistance at 1010?
I've been in and out of this one many times from $2.50 - $.08 and back to $.55, I'm all out now at .55, looking for a re entry after the dust settles. Could find a solid base at .50-.52 Could retrace back to .42 which I'm pretty sure will hold. My guess is .46-.48 Also, I could miss the train that's pulling out of the station. LOL,Siri has a habit of finding a range, staying a while, running up 20% and then retracing.
Reverse split, who knows. Mel just said that he doesn't want it but if that's what it takes to stay listed he will R/S.
IMHO, I think there is a lot of upside, down the road.
SYNA -Nice play. I don't see it on your tracker. You still holding?
Since Friday?
I scalped her Mon $ Tues and looked at it again today- $25.40 naw too high, that's what I've been selling at. Never would have guessed there was another buck for today.
that's just a bad bad visual. adios talk to you guys later.
Shit been a boring ass day until an hour ago. Now I freakin have to go in to work for an hour. AAAAAARGH
Always looking for better metaphors :) Looks like he just tried it and got kicked. Not in balls though, he'll be back for more.
Of course Yaks right.
XLF testing key support level. Below 13.86 and Faz doggie is going to be out humping leg. IMO
According to Ichimoku S&P just confirmed it's downtrend by breaking support at 994.31
late last night from Mr. HGSI call
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=40251906
About half of U.S. mortgages seen underwater by 2011
By Al Yoon Al Yoon – Wed Aug 5, 5:12 pm ET
NEW YORK (Reuters) – The percentage of U.S. homeowners who owe more than their house is worth will nearly double to 48 percent in 2011 from 26 percent at the end of March, portending another blow to the housing market, Deutsche Bank said on Wednesday.
Home price declines will have their biggest impact on prime "conforming" loans that meet underwriting and size guidelines of Fannie Mae and Freddie Mac, the bank said in a report. Prime conforming loans make up two-thirds of mortgages, and are typically less risky because of stringent requirements.
"We project the next phase of the housing decline will have a far greater impact on prime borrowers," Deutsche analysts Karen Weaver and Ying Shen said in the report.
Of prime conforming loans, 41 percent will be "underwater" by the first quarter of 2011, up from 16 percent at the end of the first quarter 2009, it said. Forty-six percent of prime jumbo loans will be larger than their properties' value, up from 29 percent, it said.
"The impact of this is significant given that these markets have the largest share of the total mortgage market outstanding," the analysts said. Prime jumbo loans make up 13 percent of the total market.
Deutsche's dire assessment comes amid a bolt of evidence in recent months that point to stabilization in the U.S. housing market after three years of price drops. This week, the National Association of Realtors said pending home sales rose for a fifth straight month in June. A widely watched index released in July showed home prices in May rose for the first time since 2006.
Covering 100 U.S. metropolitan areas, Deutsche Bank in June forecast home prices would fall 14 percent through the first quarter of 2011, for a total drop of 41.7 percent.
The drop in home prices is fueling a vicious cycle of foreclosures as it eliminates homeowner equity and gives borrowers an incentive to walk away from their mortgages. The more severe the negative equity, the more likely are defaults, since many borrowers believe prices will not recover enough.
Homeowners with the riskiest mortgages taken out during the housing boom have seen the greatest erosion in equity, in part because they were "affordability products" originated at the housing peak, Deutsche said. They include subprime loans, of which 69 percent will be underwater in 2011, up from 50 percent in March, Deutsche said,
Of option adjustable-rate mortgages -- which cut payments by allowing principal balances to rise -- 89 percent will be underwater in 2011, up from 77 percent, the report said.
Regions suffering the worst negative equity are areas in California, Florida, Arizona, Nevada, Ohio, Michigan, Illinois, Wisconsin, Massachusetts and West Virginia. Las Vegas and parts of Florida and California will see 90 percent or more of their loans underwater by 2011, it added.
"For many, the home has morphed from piggy bank to albatross," the analysts said.
(Editing by Dan Grebler)
I wouldn't go all in on FAZ just yet:
travelerofgrace tTt: Their masonic code dates are never wrong, trouble is few people outside of their organization have learned how to read them --in advance.
travelerofgrace tTt: You should leave the middle east before 04-23-09 as the insane false jews running Israel will use nukes on 04-23-09. This is their insane masonic Code i have discovered
“The No. 1 domestic terrorism threat,” says John Lewis, a top FBI official, “is the eco-terrorism, animal-rights movement.”
http://www.greenisthenewred.com/blog/green-scare/
What's wrong with fazdoggie and srs? Did they forget that what's down is supposed to go up AH?
That and the piss tests. =)
I'm trying to learn enough from the guys on here so I can make enough trading to tell them adios.
Yea, but like a crack head, I spent some on FAZ and SRS. Can't help myself, I know the bottoms gotta fall outa this BS rally.
Vino time for me. Just got home from work. Way to much stress sitting in a staff meeting with some trades hanging out there, and the GM is droning on about some BS that you could care less about.
I want to get up and tell him STFU, he's probably costing me a lot more money than he's paying me. :(
Thanks, I'll probably be pissed tomorrow at this time too.
I'm trying to break my bad habit of getting up and then holding too long on the way back down. It's a bigger pisser to see profits melting away.
Yeah!!! Siri !! sold my last 10k shares AH at my target of .55
Wish I didn't sell the rest this morning at.49
How much are they going to fine them for all the CNBC pumping on that same BS
Hurn on move again
SSS saying - Taking profits is never stupid.
Last time we took this trip, I think you sold at .47. I watched it go to .49 and back to .46 before I bailed. LOL
Sweet!!! Yea rumor mill has ER on Thurs. as a positive surprise. I plan on cashing out before then.
Thanks Yak. Banked on Hurn and Syna this morning..
In ppl at 30.35
cashed in half at .49, in at .41
See if the rest will run today, good volume yesterday and off to a great start today. Goooo Siri
Holding some until tomorrow? Wow, guy starts a family and starts thinking long term :)
Alrighty then, just swapped 100 syna for 100 hurn. Off to work. GLT
HURN? under 14.3 look like a decent entry?
SYNA finally getting some love. Dropped 33% Friday on a fairly decent ER
revising last 3 years earnings down $53mil and this years guidance way down. Deserves to drop like a rock, only question of where she ends up.
GM. Nice call on Hurn, Yak. Was stuck in SYNA, which has not been a bad play. Only looks like one next to HURN. :)
I ran across this other board. Sounds like one hot stock.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=13822638