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CSCO toast going forward looks like Linksys is where most problems stem form
1) I got a reent pitch from Voxitas which had the look and feel of late 90's promotions from all those non tech companies with dark fiber divisions that had no reason to be in the data business except for the stock price multiple expansion possible
Introducing Voxitas, a national partner to Cisco/LinksysOne VARS, providing QoS Access and SIP trunking services. Voxitas offers coverage to over 94% of the U.S. population and literally 100% of the Northeast U.S. We offer unique services and platform offerings via an unrivaled national SIP network. Voxitas has certified interoperability with Cisco and LinksysOne equipment, assuring smooth implementations. QoS based T1 service provides PRI like quality with the flexibility to utilize internet access. Through our distributed network design Voxitas can provide and support SIP trunking via the public internet in cases where T1 access is not warranted. Thus providing your clients the ability to take advantage of VoIP LD rates either via QoS T1 access or the public internet.
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2) a linksys distributor just sent this in with 10-20% reductions on most popular linksys kit.
Linksys huge price drop on below items.
Please inform your customers, thank you!
List#
Item#
MFG#
Description
Old Price
New Price
74111
LS-WRT54G
WRT54G
Wireless G Router
$58.00
$50.50
74112
LS-WMP54G
WMP54G
Wireless G PCI Adapter
$50.00
$39.00
74113
LS-WPC54G
WPC54G
Wireless G PC Card
$49.50
$42.00
74149
LS-WMP300N
WMP300N
Wireless N PCI Adapter
$81.00
$68.00
74150
LS-WPC300N
WPC300N
Wireless N PC Card
$75.00
$67.00
74153
LS-WRT150N
WRT150N
4 Port Wireless N Home Router
$100.00
$81.50
74157
LS-WUSB300N
WUSB300N
Wireless N USB Adapter
$75.00
$67.50
74177
LS-USB54GC
WUSB54GC
Compact Wireless G USB Adapter
$51.00
$42.00
74222
LS-SD2008
SD2008
8 Port Gigabit Switch
$77.00
$65.00
S&P futures getting pretty ropey down 8
Like Giants winning Super Bowl, how long are the odds that today's down day signals continued weakness.
All pretty boy Tiki Barber can do is wail and nash his teeth after bad mouthing his coach and fellow players last post season.
Something tells me some are having issues with margin.
P&G reported today that sales may increase mid single digits and we can see that effects of FED rate cuts that inflation is going to run neck and neck with that percentage range.
It is going to be hard to hold anywhere of a P/E of 20 if 1970's style stock recession occurs.
JUST REMEMBER
The people behind the trader desks on wall street are just one step from the unemployment lines if they can't help with the recapitalization plans of their insolvent firms they work for.
techs like AAPL BIDU didn't rally a nickel post 2:15 so S&P pump was just a short squeeze play.
<g>Think 2001.</g>
I can remember many restless nights of sleep worrying about how low market would open.
Sleeping and feeling a lot better now.
Retest hell we will stay below 20% for a period of time if we have bear market due to recession.
S&P would be (1550*.8) 1240.
In 2000, it was tech that were overvalued and the street preformed "theft by deception" on investors by hiding their knowledge of shaky Inet IPO's and Enron condor transactions.
Now it is the the street which is undervalued and they steal from investors by performing controlled drops in equity prices every time investors get bullish (greedy) to help offset some of their massive losses.
Holding up of S&P looks forced.
At this time yesterday, we were at 1321 now 1305.
Controlled slow bleed helps longs hang in there and not realize how much blood they have lost cumulatively.
Add tech, like AAPL, and miners, like FCX, not having much upside potential and where do you see overall market in next week or two.
Overseas they more worried then us so what to stop asia or Europe from tanking again tomorrow.
I would think most shorts will be chastened by today's action.
S&P heading to 2% off. Net selling today with heavy rotation into financials to squeeze shorts.
No reason to get too hopped up on the long side because I don't see John Q Public buying yet.
Market got to hold some level today in order for anyone to be any buying the rest of this week with no more rate cust coming soon.
Double digit % gains
MBI LFG FRE KEY WM SHLD
Warning
S&P being sold even while shorts decide it is time to cover their positions in financials and momos.
PS goign to take a lot of real buying to get S&P green
I added some shotr PUTS and closed some short calls this morning.
Most strikling thing is I have not been assigned 1 share from my short PUT activities.
IMO that means things are cheap.
There is no support obvious level for any index made up of basically "insolvent" companies.
Why limited comparisons of 98 & 00 when we've heard from Mozillo that housing market as bad as great depression, at least for him <g>.
Only saving grace for US and China is our growing populations which underpins the fact that recessions only will be temporary.
Germany and Japan whose population growth less then 1/2 aforementioned, their economies will feel contraction more pronounced and extended. DAX just ben getting crushed and they got less reasons (young people) for hope.
You see any chance of FED rate cut before market open to mute decline that was seems to be ascribed to in foreign press as lack of significant action by US to avert recession.
Limit down S&P is about 5% or about 65.
ftse 100 6 up - 94 down
miners energy banks leading the way down
http://uk.finance.yahoo.com/losers?e=ftse
You need to dust off most bearish of forecasts because when people open up Jan investment statement in early Feb they are not going to like what they see and start to clam up on equities and spending.
Mark S&P futures 1321.5
pre winning field goal kick
Ryan Grant inside bleeds Giant Blue.
If you charted like a African endangered animal with a radio tracking device over his 20 sometimg year lifetime, one would statistically surmise that he rarely wanders more then 25 miles away from Giants stadium in some sort of mean statistical average.
Ryan Grant (born December 9 1982 in Ramsey, New Jersey) is an American football running back for the Green Bay Packers of the National Football League.
He attended Don Bosco Prep in Ramsey, New Jersey. In 2000, USA Today named him New Jersey Player of the Year. He went on to play football for University of Notre Dame , where he ran for over 2,000 yards in his collegiate career. Currently, Ryan is a reserve for the Green Bay Packers after being acquired in a trade with the Giants for a future draft pick.
http://www.answers.com/topic/ryan-grant
If I was John K. Mara and Steve Tisch, owners of the Giants, I would bribe him handsomely to dog it tonight. He was not even great back at Notre Dame. I would doubt if he is in top 20 in yards per carry. He averaged only 4 yards per carry at a school that produced dozens of NFL offensive linemen a decade. Tisch could afford to make him a highly paid doorman for life at one of his NYC hotels.
http://grfx.cstv.com/photos/schools/nd/sports/m-footbl/auto_pdf/FBRecSuppIndividualRecords.pdf
From: Ramsey, NJ
To: Giants Stadium East Rutherford, NJ
Drive: 20.2 mi – about 34 mins
20.2 mi – about 34 mins
1. Head south on N Central Ave toward School St 427 ft
2. Turn left at W Main St 0.6 mi
2 mins
3. Slight left at E Main St 220 ft
4. Continue on Lake St 0.4 mi
1 min
5. Slight right at E Crescent Ave 105 ft
6. Slight right to merge onto RT-17 S 16.8 mi
25 mins
7. Take the exit toward Paterson Plank Rd 0.2 mi
8. Merge onto Paterson Ave 0.1 mi
9. Continue on Paterson Plank Rd 0.7 mi
1 min
10. Slight right to stay on Paterson Plank Rd 476 ft
11. Slight right at Berrys Creek Rd 0.1 mi
12. Continue on Plaza A 0.1 mi
13. Continue on Berrys Creek Rd 0.6 mi
2 mins
14. Turn left at Stadium Rd 0.2 mi
Consumer confidence, inflation, dollar index, unemployment rate an wage data are pretty predictive of stock market behavior.
VIX is just a "financial derivative". CDO's, AAA rated tranches of sub prime loans and other financial derivatives got under into this trouble and if people give VIX enough credence to "bet" on the market them we are truly hapless and hopeless.
VIX - CBOE Volatility Index
The ticker symbol for the Chicago Board Options Exchange (CBOE) Volatility Index, which shows the market's expectation of 30-day volatility. It is constructed using the implied volatilities of a wide range of S&P 500 index options. This volatility is meant to be forward looking and is calculated from both calls and puts. The VIX is a widely used measure of market risk.
Notes:
The first VIX, introduced by the CBOE in 1993, was a weighted measure of the implied volatility of eight S&P 100 at-the-money put and call options. Ten years later, it expanded to use options based on a broader index, the S&P 500, which allows for a more accurate view of investors' expectations on future market volatility. VIX values greater than 30 are generally associated with a large amount of volatility as a result of investor fear or uncertainty, while values below 20 generally correspond to less stressful, even complacent, times in the markets. The index is often referred to as the "investor fear gauge".
derivative
Definition
A financial instrument whose characteristics and value depend upon the characteristics and value of an underlier, typically a commodity, bond, equity or currency. Examples of derivatives include futures and options. Advanced investors sometimes purchase or sell derivatives to manage the risk associated with the underlying security, to protect against fluctuations in value, or to profit from periods of inactivity or decline. These techniques can be quite complicated and quite risky.
I think if NY and NE win this weekend the market will go up on Monday.
Football will be big water cooler discussion on Wall Street, al. la. "the world is OK" " the sky isn't falling" theme
RE NY
The week before they gave NE a scare they scored the most points in a game this season against Buffalo.
The Giants finished with 291 rushing yards. It was New York's highest single-game rushing total since a 351-yard performance on November 29, 1959.
http://areyouwatchingthis.com/nfl/games/49161
If they repeat this type of performance in the frigid condition in Green Bay and Eli Manning has less mistakes then bret Farve, they will win. This game will focvus on rushing because quarterbacks will have little feel for the ball in this cold and receivers wil only feel a stinging pain when they catch it.
MY should out rush Green Bay. NY will come out with numberous backs. For example, the leading rusher for Green Bay, Ryan Grant, was traded from the Giants in the pre season for a 6th round draft choice because he would never have a chance of playing much with NY since he was 3rd on their depth chart.
Lower VIX is cash in the bank holding decaying short options. Premiums invariably fall when the market the stays flat.
Just 2 weeks ago with the VIX going up, I was seeing eye popping increases in the value of options, FSLR for example, even while stock price stayed the same. I was seeing that my maintenance obligations on stocks like FSLR explode while stock barely moved since both calls and puts values went up crazy. I had to close down some short positions that I held because I couldn't hold the total quantity of positions vs a situation where I was getting wiped out dollar wise. Luckliy my broker has had enough experience and had a manager who understood what was needed to be done to meet any maintenance requirements.
Back in 2000, I had a account where the brokerage manager gave an edict to my broker "you can't buy anything, you can only sell positions" It took about 2-3 hours to convince him that since I was mostly short options the only thing I could due to reduce maintenance was "buy" a position to close.
Where the market goes is totally dependent on how many jobs get lost; which leads to how many houses go into foreclosure, which leads to writedowns at banks; which leads to equity reallocation to cash and bonds; which leads to lower stock markets; which leads to lower consumer inclination to spend; which leads to a positively feedback cycle all over again.
Yesterday by 4 PM I did better then the blood bath that it seems like at noontime and I was actually up 2% for the day.
My momos which I am long with underwater short PUTS went up
ISRG RIMM FSLR BIDU
My defensive bios with bracketed short PUTs and Calls fell a little
CELG AMGN BIIB GILD
My set em and forget em hold short CALLs until expiry worthless kept tanking
FRE FNM MTG MBI
I stepping out of the shorts that are totally spent
CFC IMB ABK WM
Based upon the fact that
the over valued went up
the defensive went down
and the hyenas are just about full feeding on the vulnerable
that a tradable bottom is in.
We are 10 pts above LOD on S&P. Reveral could come at any time for any reason.
Not the best time to short unless you know something.
RE land in upstate NY
We have some undeveloped land outside of Woodstock and either it is an idyllic paradise to commune with nature, to not hear the noise of human activity and the freedom not to have to interact with your neighbors if you like.
or
It is bug infested hellhole swarming with bears with none of the amenities one expects, cell phone service, and they have the nerve to send you a school tax bill to boot.
to each his own.
Most retailers and large tech stocks relative unchanged as market plummets
Something doesn't smell right if just the interest rate sensitive stocks are taking a beating as well as small cap momos.
ISRG acting bizarre for it unchanged.
When the need to liquidate equity positions it is the whorish stocks that go first and farthest.
aj got a point about C GE
add XOM to the watch list since just about every 401K plan owns them.
People are going to get jittery when they see JAN statements in early FEB.
They going to make a lot of calls to their plan administrators to reduce equities and increase bonds.
ABL MTG all farted up
AIG FRE FNM not much better prospects
feels like a rate cut a coming.
Price of Copper and Gold
I would of thought gold near $900 FCX would be up up and away. The downtrend in Cu near $3 lead me to beleive anticipated worldwide economic slowdown gives you a clue where equities and FCX included are headed.
banks to resume the process of attempting to become insolvent without causing panic in the markets.
I had to read it over 2-3 times to see if you forgot to add a <g>
We are at a pretty serious juncture in the market. Hopefully 1355 is a short term bottom
He cut on AUG expiry 50 pts
http://bigpicture.typepad.com/comments/2007/08/fomc-statement.html
We tend to forget about ancient history.
My money is be long at the close of market Thursday so easy street money can be made premarket with S&P settlement.
Isn't that all that rate cuts are about flying in the face of inflationary prospects
It fattens the financials bottom line with wider spreads.
Job, inflation and equity markets were overheated then.
Now we barely got inflation untamed.
If Bernanke doesn't dole out rate cuts like a child dispenses pezs from pez dispenser, no one will invest in equities until they look stupid cheap.
http://www.pez.com/
Everyone knows FED will dole out minimum of 75 pts with another additional 50 pts on top of that if they let market go into crapper by not cutting 75 by Mar meeting.
I can see Bin aweed, Singapore and other funds doing what Bank of America did with CFC with the remainder of our financials.
(10% stake for $2 B; "all in" for remaining 90% for additional $4 B ).
Current offerings going for 7-9% returns now will offer much more in potential returns for next round of sovereign investors if financials need additional recapitalization at the expense of existing shareholders.
Futures are off 9 pts off Intel news
We are totaly f'ed and we are waiting on elitist Princetonian boy ( arch rivals of my Alma mater Rutgers) for any solace with a rate cut.
http://www.princeton.edu/~bernanke/pdfcv.pdf
I see market is torn between "growth recession" which should allow some reasonable upside from these levels
vs
"Plain Jane" recession which would mean stocks would suffer another prolonged decline of at least 10% from here.
We are not hanging around 1400
either we trade higher or we get equity meltdown like 2000.
Stock market will make it mind up by last date to pony up your 2007 tax payments Apr 15.
Cell phone subscriber stats a bunch of lies
PS I have Sprint cell phone plan with 4 phones on it I asked to cancel one phone from plan that I wasn't using. They dcided to give me $10 a month credit instead of cancelling one phone.
Just last month Verizon, sent me a total of $3 in two checks to cover the balance due me on 5 phones I stopped 5 years ago when I went to Sprint service. Every month a would get a statement with the account numbers showing this credit balance and no activity. I guess they carried me as subscriber all these years.
AT&T caused this weeks meltdown by their cancellation of nonpaying subscribers.
Sprint store rep told me that majority of new RIMM blackberry phone users are going with Sprint $30 per month data plans that gives RIMM peanuts in revunues vs $40 RIMM direct plan with gives Spirnt the short end of stick.
My rule of thumb on these high beta options is they move more then the combined value of "at the money" puts and calls. So $30 is about in line.
RIMM is in same basic situation.
I was doing vey well last 2-3 weeks as VIX increased but market held together overall.
Now is just a bet on how far market may fall.
I noticed option premiums ae very high as VIX goes up.
For example, FSLR 230 calls and puts at the money are $12. If closed at 230 next Friday, 8 trading sessions away, you could pocket $24. That's 10% return in 2 weeks.
Experiance tells me it is going to move violently in either direction before then.
CSCO below $24.82 suggests we're going into much deeper drop this week than I'm anticipating
We will all be watching.
I got long plays on both QCOM and BRCM assuming one will win big and the other will not do so well.
QCOM got potential to do RIMM like action after patent settlement in the past.
Not to many safe havens ISRG and BIIB still dropping.
How much AMGN and DNA can funds buy on the bounce before they have their fill.
PANL gets most of it income by licensing deals, bribe money not to sue for patent infringement, from the big boys like Sony and Samsung, and the rest from government defense contract handouts.
Where the hell is this market heading to on the downside before FED cuts rates.
The saddest thing about current political environment is Obama doesn't know jack shit any about market economics.
My wife is going down with the U.S.S Hillary and may start developing a drinking habit <g>.
I actually with a few local investor buddies got to see a dog and pony show grooming us for one of the private equity placements at about that time.
I couldn't get anywhere near pulling the trigger because the current CFO had such bad hair plugs on top if his head.
FED acted with cuts twice before at levels coming up quickly in our rear view mirror. Market reacted well afterwards.
Are we in for repeat in Act III or are rate cuts looked at more critically as combating a recession rather then heading one off.