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I got even with all of them. they raise the rate i max out the card and quit paying. Got caught in the real estate fiasco and have to file anyway. Government didn't give my company a bailout. Hell couldn't even get a loan at a 30% net profit before the poop hit the fan with 750+ credit score
New Orleans please
Answer A) because they make the market do what they want.
Sorry for sticking my nose in but where do you think a lot of the tax money comes from for our government to give away?
Arizona please
Jets please
This simple for me -
bought 100k at .003-.0035
just put in sell at .004 for all - GTC
when/ if that happens I'll be back
Yea me too! I'll keep these shares as a reminder. Just like highschool many years ago; everyone was going to do it until it was time.
Where the heck are the buyers? Get to hear excuses again tonight?
Got filled 1st 50K at .0035 and bid promptly dropped
whats-up here? MM are ready for us?
Is it just going to be penny? FWIW -NCS has 52% short interest
I have to agree. I bought at ask today, but a lesses amount than normal to see if everyone followed thru. Didn't look like it so I didn't buy more. But now I have 100k shares to figure out what to do.
Washington please
Anyone think AMD might be a good sympathy play on INTC earnings?
Pittsburgh please
What is this new Logitech Squeezebox wi-fi radio and will it impact Sirius? info / oppinions anyone?
VG starting AH move
try healthyback.com
San Fran Please
Yea. Think a lot of us options players were poopin' bricks yesterday!
Minnesota please
Yea still learnin
Swing - much slower today than Fri
ARNA nhod
Green Bay please
Open question for the board
Today I noticed a lot of candles with long tails starting around 11:00 or so on the 5 min. charts. ( FITB,DRYS,SPY )
Level 2 seemed to have a lot of below bid activity although
the bib/ask did not change. Not having noticed this before (to such an extent ) What do you suppose it was?
Anyone know why the long tails on 5 min candles on
FITB and DRYS - Inst. sales maybe?
Philly
Green close would leave the Shorts sweating over the weekend!
I'd bet on the 175's.
Don't know that I would bet against GS short term. Especially
on a day they are upgraded with price target of $220
Maybe because Simon likes the ladies too much.
Interesting post
www.investorshub.advfn.com/boards/read_msg.aspx?message_id=41328576
www.securitytraders.org/news-media/?c=Press-Releases
Sure they will continue to fight this tax but who knows
when it comes to politicians and more taxes for them to spend.
Looks like GS may breakout
TY. Most important right now is to bounce so I can make a couple bucks. Then "pewter shopping"
I agree 110% Since I don't have a computer builder in my area I have been shopping the net and ran across the Falcon guys.
Just thought you might know of them. Thx.
Glad to hear it. What do you know about these guys? falcontradingsystems.com I'm thinking about buying a new computer myself.
Hows that shiny new pewter working so far?
Thought you would appreciate this from another board.
Posted by: jjkool_01
From:Naz News, Gappers and FLE's board
Big Deals and Big Balls on Wall Street - The "Pony" Trade
Submitted by Bruce Krasting on 08/29/2009 09:35 -0500
I have access to the super secret technology (made in China) that allows one to listen in on selected cell phone conversations. I pulled this one out of the air yesterday. Using names would be unfair, so I will just use initials. PD is Prop Desk. BB is Big Boss.
PD: Hi BB, sorry to bother you, but there is something that I wanted to discuss and it has a short fuse. Where are you?
BB: I am down in Argentina. Muffy and I are here doing a little shopping.
PD: Well, that sounds like fun. What are you shopping for?
BB: Polo ponies, lots of them. The recession killed the market for these horses. You can buy a decent pony now for under $500,000. I am buying all of them that I can find.
PD: Corner the market on ponies huh? Sounds like a good plan. What are you going to do with them?
BB: There are several big shopping malls in NJ that are going belly up this fall. My intention is to buy one, gut it and convert it into the first ever completely indoor polo field. I have always wanted one of those.
PD: Well good for you. That sounds like a swell idea. I have an idea that will pay for the horses and mall and a bunch left over. I wanted to run it by you.
BB: I am all ears when it comes to making money. What’s the play this time?
PD: Our guys in D.C. have been speaking with Timmy G. about their position in Citi. As you know Treasury owns 7.7 billion shares of common. Their cost basis is $3.25 and it closed Friday at 5.23. Apparently the FDIC is just about broke and needs more cash so they are looking to raise $14- 15 billion to plug what is being called the ‘Sheila Gap’. We are in discussion with them about a secondary for 4 billion shares. It would be the biggest deal ever.
BB: A secondary that would float 40% more shares sounds like a lotta risk. Who are you going to do that with? Merrill has no buying power, Morgan Stanley has no balls. Who is going to take that much stock?
PD: Well that is why I am calling. The plan is to do it all alone. A "bought deal" for the whole thing. Timmy is concerned that a transaction of this size would cause market disruptions so they have put the condition on the deal that we have to do a buy and hold for three months. That works to our advantage. Because they insist on our keeping the stock they have agreed to sell it to us deep in the hole. They are willing to sell the 4b shares at $3.75.That way they get $14b and book a gain of $1.5b
BB: Well that sounds interesting, but it is still a lot of risk. Three months is a long time. This will impact our VAR, and we will get more flack from that. Let’s face it, C is a piece of crap and the stock does not belong above $2. So what is the plan to manage the risk?
PD: We think we have that covered. The whole firm is involved at this point. Here is the plan:
The stock loan department has 2.5b shares available for lending. They have withheld these shares for the last ten days. We did that to get a better bid under the stock by making shorting harder. With the 2.5b shares available to us we can sell short the borrowed stock at the current level. We think we can get at least 2.5b shares out the door before the deal is announced. So that way we can eliminate more than half the risk and realize a gain on the 2.5b of $5billion. If we apply that to the remaining unsold shares our average cost goes down to 40 cents. We can’t lose money at that price.
BB: Well it’s getting interesting, but how are you going to get 2.5b shares out the door by midweek?
PD: That is where it gets interesting. We have been working with the quant guys on the HFT desk. They have an interesting plan that I think will work:
The HFT guys are going to run their programs in reverse for a few days. The plan is to put bids and offers in the market for C stock that will cause the other HFT traders to execute transactions and automatically make money in the process. We think that if we put $20 mm of gains in their pocket over a few days they will ramp up their activity and take ever bigger positions. Between 1pm and 3 pm on the third day the Algo boys reverse the programming and start selling. The rest of the HFT world will have no clue what is going on and will take the paper assuming the high bids will be there. We think we can push out 1.5b shares before they even know what is going on.
As for the other 1b shares the guys on the trading desk have come up with a idea. Apparently there are over 1mm day traders out there taking positions in C stock. These guys are lining ups bids and offers on the SOES System. The plan is to feed blocks to the day traders below market. The trading desk will be bidding above those levels for smaller amounts so the greed factor of the day traders will allow them to keep buying big while they are selling small. All that is required is to get 100,000 day traders to take 10,000 shares each. This could cost us $10mm but we think we can push out the 1b shares in the morning of the third day. The trading desk is in touch with most of the idiot day traders, so there does not appear to be much of a problem there as well.
So by 3 pm we have pushed out 2.5b shares on to the street.
BB: Isn’t this going to cause a large order imbalance by the end of the day? When the stock collapses by 4 pm there will be hell to pay.
PD: We have that covered too. The research guys are going to issue a report on C at 3pm. They will come out with a ‘Trading buy’ recommendation for C. That will bring in a bunch of others from the buy side. We think that FIDO and the other big guys will buy like crazy from 3- 4. The price might even move up in the last hour. At 4 pm The Treasury announces that the shares have been placed and locked up for two months. We can put out a statement, “We believe in Citi”.
BB: But all of this will result in an explosion of volume. To get this done like you describe it would require back-to-back days of over 5b shares trading hands. Won’t that get the SEC looking into all of this? We wouldn't want that.
PD: We have that covered too. Timmy has leaned on the SEC and they have folded. Mary Schapiro will make a statement after the close, “The transaction is a reflection of the strength and durability of our capital markets. America can be proud of its financial institutions.”
BB: Jesus, it sounds like you have all the bases covered. How much money do you think we can make on this?
PD: We are thinking $6-8 billion. It could go higher.
BB: Well that is a lot of ponies. So giddy up and get that deal printed!