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Where's Spectre? I'll post it for him this time.
http://www.ralleymonkey.com/oldvideo.php
I don't know the answer to that. I doubt he dropped 5 billion to buy the stock unless he has a broker buying chunks at a time over weeks.
But Tech Ticker was showing yesterday that Berkshire Hathaway has lost 43%. That's going from 130k + PPS down to 77k!
Wow.
Think about how Warren Buffet feels about sinking 5 Billion in Goldman Sachs in September of this year when the PPS was over $120. That's more than a 2.5 Billion dollar decline in value today.
Nice! I could only dream of losing that much money. LOL!
http://www.necn.com/Boston/Business/Buffet-invests-5-billion-in-Goldman-Sachs/1222257351.html
IMO, it may close green but that will be the new high for a while. Great day to buy puts, me thinks.
Let's fix that.
http://www.hidemyass.com/
That should do it unless your IT folks are blocking that too. LOL!
Not a gun owner right now but will be buying a 9mm Glock soon while you still can. LOL!
I have a feeling taxes are going to go SKI HIGH on hand guns and ammo within the next 6 months or so. I can't believe that will mean I will be in danger of a home invasion by robbers armed with Samuri Swords though.
Great minds think alike, Optionsmonster. I just came a little late, and with less money, to the party. Hehehe
Next time I hear some motivating speaker talk about only good things happening with positive thinking, I'll bring up the subject of what it costs positive thinkers in a bear market.
DOW going to go below Oct 2002 levels of 7200. The person interviewed thinks they'll go as low as 6800. So I've heard 6800 and 5800 as the lows. Let's average that together and get 6300 for the low. Get your DIA January 63 puts NOW! LOL!
http://finance.yahoo.com/tech-ticker/article/131914/If-Stocks-Are-So-%27Cheap%27-Why-Are-They-Still-Going-Down?tickers=%5Edji,%5Egspc,%5Eixic,SPY,DIA,QQQQ
Check this out:
http://finance.yahoo.com/tech-ticker/article/132132/How-the-Mighty-Have-Fallen-Buffett-Other-Legends-Feel-Bear-Market-Bite?tickers=BRK-A,FMAGX,CGMFX,LMVTX,IEP,LM,GS
BRK/A shares = 77,200. It was 130k a few weeks ago.
LOL! I agree. It's their bed, let them sleep in it... errrr... make it happen.
I agree! I set my DIA puts for December and now I'm forgetting about them for a few weeks.
FWIW, look at IBM puts. It likes to gain a little and lose a lot lately. It's also still the most expensive DOW component and has plenty of room to drop.
That would be because I sold my DIA calls yesterday and replaced them with Puts. The market knows this and is trying to stay up just to spite me. So the battle is between Murphy's law and the law of supply/demand in the market place right now.
Make no mistake, if I had not sold my calls yesterday, the DOW would definitely be in the 6000's right now.
For the record, I hate routing for the market to drop. Seems so wrong. LOL!
I'm going to sit on these from 2.70: .DIJXR DIA DEC 70 Puts
Wait till news comes out about retailers failing after Black Friday sales. When it sinks in that not even the holiday revenue will support stores, this drop will accelerate, IMO.
Absolutely! This is the market that will make millionaires in 2 years! WooooHoooooo.
5 years from now when my oldest is 19, he's going to look at his portfolio and say that his dad was buying this IBM stock for him at 50 bucks!
Accumulation is the play for the next few years, I guess.
Yeah, I thought it might bounce back closer to 9k but the market is just so weak. If it couldn't even break 8500 AND it closed under 8k, wow.
Yeah, but wasn't that a drop from the high 9k's? This time, the new high was 8500 (or close). IMO, I think we'll see a lower low before a pop to a lower high.
Not good that the DOW closed under 8000. A new base is gonna be forming, IMO.
Wow, the UAW (United Auto Workers union) is scared now. All those years of artificially inflating wages in the Big 3 and only NOW they are ready to accept competitive wages... that wouldn't go into full effect until 2010.
LOL!
http://finance.yahoo.com/news/UAW-GM-say-new-pact-makes-apf-13624940.html
DETROIT (AP) -- The leaders of General Motors Corp. and the United Auto Workers union told Congress this week that a new union contract will virtually erase the labor cost gap between GM and foreign competitors with U.S. factories. That's not quite true, according to GM's own figures.
Although the contract signed last year eliminates about two-thirds of the cost gap when its provisions take full effect in 2010, GM's labor costs will remain about $9 per hour, or 17 percent, higher than Toyota's, according to GM estimates.
I've been wondering how long it would take for the auto union to be the catalyst to bring down the Big 3. Of course there were quality issues but you can overcome that with advertising if you can keep your labor costs down.
The UAW members will end up begging the Big 3 for a deal for lower wages just to keep their jobs.
I do think it sucks for the workers who thought they were winning fair wages. But when you look around at the competition and you can see that your salary is far higher than someone else doing the same thing, you have to stop and take a look at reality.
God knows IT went to high salaries only to fall back to competitive wages while IT jobs are outsourced. Where's our union? Who needs it?
Appropriate for this board. And insightful:
http://www.portfolio.com/careers/features/2008/11/13/How-To-Avoid-Getting-Conned#page1
DOW at 7500 by Friday? I think the last drop was two consecutive -500 point days, if I remember correctly. I guess that doesn't really matter. If it's dropping, it'll drop. And it's dropping.
Alright, new requirement for bailout money. The big 3 auto companies have to first sell their fleets of corporate jets, second cut their salaries, and third make them relocate to wherever their office is located just like normal employees have to every day.
http://abcnews.go.com/Blotter/WallStreet/Story?id=6285739&page=1
Big Three CEOs Flew Private Jets to Plead for Public Funds
Auto Industry Close to Bankruptcy But They Get Pricey Perk
By BRIAN ROSS and JOSEPH RHEE
November 19, 2008
LOL! What balls they have!
BTW, my idea here just saved/made the big 3 a grand total of $450 Million in their first year of recovery by selling the aircrafts.
Now, slash their salaries to $500k per year. That's a savings for the companies to the tune of $60 million total. More if you suspend their bonuses until they are profitable again.
Lastly, the CEO's have to fly first class to the tune of $1000 per ticket rather than $20,000 (for corporate jets) each flight x's a modest 100 trips per year. That's another savings of almost $2 Million per year. Even more if you force these jerks to relocate to their HQ's.
So for 2009, Samaelrocks reconstructed the Big 3 to reduce spending by $512 Million per year starting in 2009!
You do that and tell the unions to take a hike, you now have the Big 3 reducing their costs by more than $1 Billion per year!
Why another $500 million by getting rid of the unions? Because when they do that, they don't have to foot the bill for union fees, higher than market salaries and severance packages that are = to 90+% of other companies. Done easy. Oh, the workers will be happy to do this for this go around since many will get to keep their jobs. The others will have to get unemployment the same way they would if the UAW were to remain. Job Banks? LOL! Get real.
I don't believe the Ford's flew in corporate jets when they were getting their business off the ground (no pun intended). And that's exactly where these CEO's should see themselves now.
Thoughts on GRS? Looking at some March 09 calls.
.GRSCA $5 calls but have no volume.
Might be good to get into since their loss is baked into the price now.
What I find especially funny about Europe, specifically western countries, is comparing their liberalism to that of the U.S. I don't mean it in a negative way, just an observation. For example, some comparisons:
NOW (National Organization of Women) would HATE to see the poster in the Brussel's airport of a well endowed woman lighting a man's cigarette.
NOW would hate some of those Finnish post cards showing naked women in Sauna's that sit on those rotating card displays on the hotel's gift shop counter. (Scandic Hotel).
If those European countries, especially in Scandinavia, had representatives that tolerated illegal immigration the way the U.S. does, they'd go off their rocker.
And Nancy Pelosi would have a freaking cow if the U.S. adopted the same sexism of women the same way the Finnish, Danish and Estonians do. LOL!
The ACLU would be busy as fast food workers during lunch time working cases protecting Muslim special rights.
Just an observation folks based off those wonderful vids. Don't get angry at the messenger. Hehehe
Optionmonster - I've never been to Russia but would love to one day! What months are warmest?
Thanks. That did it. LOL!
Darn, my bid was too low and missed entry:
.DIHXX DIA DEC 50 Puts
I still have a small order in for these at .15. I think at 2:30 today, the DOW will rally again so these should meet my price.
I plan to accumlate these so I can pay for xmas. LOL!
The last earnings play that I saw that did well was GOOG early this year. I didn't play it but it moved huge. Every other play that I saw and that I played lost money big on the earnings release. Of course I played out of the money some but even if they moved in my direction, the premiums on both sides of the play dropped like rocks. I think you would need at least a 20% movement in the underlying stock to make any amount of money. 10% moves only allows you to break even or take a small loss since the premiums are so high the day before.
It's probably different in a Bull market though. But that's my 2 cents because I'm intrigued with earnings plays to see how they play out. Just too risky for me.
Good point. Here's another one that I like. Their OS is low and their last split was in 97. They reached a high of 90+ and have good brands in their portfolio. Severely undervalued, IMO:
VFC
Retailers suck now but when the market comes back, this one is going to pay really big, IMO.
Remember, I'm an IBM junkie. How many other companies have that kind of cash, stock price that low and offer a .50 dividend?
I'm accumulating every month now.
This is not baked into the Market yet, IMO and will be a big catalyst forcing the DOW to new lows (I hate that this is happening though):
http://www.fool.com/ddow/1999/ddow990924.htm
Foolish Four Portfolio
Sears-iously Speaking
By Ann Coleman (TMF AnnC)
ALEXANDRIA, VA (Sept. 24, 1999) -- Sears is the latest Big Dog of the Dow. Every day, a new note arrives in my e-mail asking if it's "safe" to invest in Sears, considering it's going to be bought by a Mexican company, go bankrupt, or be physically destroyed by mobs of angry consumers armed with Craftsman power saws.
(Those are all just rumors, folks.)
The store is definitely in trouble. Customer service has been shoddy for years and lawsuits against the automotive service department have alleged not just shoddiness but illegal gouging of unsuspecting customers (not to mention destroying the evidence). There's no doubt about it; Sears is a dog.
Done with DIA calls now. Looking for some CHEAP puts. I have to agree with Optionsmonster. The DOW's going to see some 500+ point drops soon, IMO.
The reason I believe that's going to happen is there are a lot of retailers that will be closing their doors during this holiday season.
The global economic crisis can't be that bad:
http://www.foxnews.com/story/0,2933,454191,00.html
Foreign Aid Money Spent on $23 Million Art Ceiling at U.N. Human Rights Council
Obviously, there are no more starving children in Africa and the foreign aid budget had a massive surplus. Let's employ an artist!
Can we let the DOW bump up to 8500 first though? I only need 20 seconds to complete the trade. LOL!
Yo, Monster! Let's say the market closes green today. What kinda crap can we expect tomorrow to kill it again? LOL! Looks like tomorrow we may be free from the Market's Grim Reaper. Hehehe
I'm not sure what you mean about IBM having a "7 handle." LOL!
You mean in the $70's? I'd love to buy it in the $50's or $60's also. I don't have any options on IBM right now. Just accumulating the stock at this point.
Worth a repost from yesterday:
Another reason why Detroit auto makers need to go away. They allowed this to happen:
http://www.detnews.com/2005/autosinsider/0510/17/A01-351179.htm
Jobs bank programs -- 12,000 paid not to work
Big 3 and suppliers pay billions to keep downsized UAW members on payroll in decades-long deal.
No loans for retooling the big three and their vision is going to help. They have no vision. The big three need the money to stay afloat for another year and hope their SUV's stick again.
They'll continue to produce the same ugly cars they've been producing all this time.
I have a Town and Country van and my flex pipe got a hole in it. Chrysler wanted 550 just for the 21 inch piece of pipe! I went on Ebay and found one by a 3rd party for less than $70! Bought it and took it to my mechanic. He said the quality was better than the Chrysler pipe!
Anyone with an import ever have a flex pipe bust a hole? LOL! Amazing the problems you see with these domestic designs.
GM's going to go DOWWWWN tomorrow with Ford:
http://news.yahoo.com/s/ap/20081117/ap_on_go_co/congress_returns
WASHINGTON – Prospects dimmed Monday for enactment of a $25 billion bailout for the faltering auto industry before year's end, as congressional Democrats and the Bush administration seemed headed for a stalemate.
Good read. Thanks.
Like everyone else, I expect it to get worse before it get's better. But from that article, we do have more safety nets built into our system so that the 2009 Depression (if it comes down to that) won't look like the 1930's.
IMO, this could be fixed quickly by NOT increasing taxes on companies, offering incentives to keep the outsourcing to other countries down, and cutting government spending allowing our dollar to maintain some value at least.
The Treasury should buy back currency right now! LOL!
Forget trading... I like buying IBM stock at these prices. The lower the better for my purposes. LOL! I'm just buying as much as I can each month.
IMO, once the economy starts to turn around, IBM will be one of the bigger gainers coupled with having a great dividend!
That would be nice. You believe that's true for the DOW as well? I think all eyes are on the potential bail out of GM.
The next few weeks are going to be interesting. Actually, the last 18 months have been really interesting. LOL!