is enjoying a new career in health care
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Couldn't agree with you more.... this market defies all sense of "reality" and "trading history"... I will note that the rise is occurring on ever decreasing volume...what will the govt due when the vol is gone... completely trade the market by themselves?
Warren Buffett is on CNBC right now and just said "We are in a vicious negative cycle right now" WTH... I sure don't see a "Vicious Negative cycle" in the market.... I wish he had said "We are in a massive government manipulated P&D cycle right now...If I was you I'd BUY FAZ!"
IF you promise to make the DJIA drop 600 points tomorrow I'll buy you a 1 year stock charts subscription!
Scares the hell out of me after seeing the futures VERY negative Sunday night only to get killed on Monday
OMG rolling....wife just asked why I was laughing so hard...I told her I had a trade go from .60 to 2.25 and she said "THAT'S GREAT! So how much did you make?" I told her "Well babe, after my trading fees it was insane...I made a whole $28.65!!" Sensing my sarcasm she just looked at me with disgust and laughed....she was probably hoping I was going to pass her some cash to go shopping!
LYBI LIBBEY INC (Margin) 24.000 $2.25 $54.00 $25.35 $28.65 113.02%
LOL...thanks for the support guys! Yeah NOT the 3X bagger I had hoped for...
YEP...not worth the trading fees....will probably just wait until the end of year and write them off as a loss for taxes....BAST@RD MM's for throwing me 24 shares instead of the 2000 I bid for...and if I remember correctly it was a MARKET trade!!!
Yeah, I should have made my buy last month FOK.... damn them for only giving me 24 shares....what a waste of trading fees
LYBI Talk about frustrating.... take a look at this...
I wanted 2000 shares and only got 24 shares filled -ignored it as I was busy with other trades
Buy Order 2000
Filled 24 of 2000
04/22/2009 YOU BOUGHT
LYBI LIBBEY INC
Margin Shares: +24.000 Price: $0.60 Amount: -$25.35
Comm: $10.95
Settlement Date: 04/27/2009
Yep...maybe the truth will set in once it surpasses the 1991 7.47 Delinquency rate?....who knows...
Calling it a night, up in a few hours
GLTY tomorrow!
I can see it now "BKUNA declares bankruptcy and determined insolvent by FDIC" and the stock will post a 150% increase in pps before end of day....
Housing Market shows sign of improvement?!?! Who believes that BS...I guess the guys below need to stop doing drugs and quit their business since their data is being considered inaccurate or invalid
U.S. FORECLOSURE ACTIVITY INCREASES 23 PERCENT IN FIRST QUARTER
http://www.realtytrac.com/ContentManagement/PressRelease.aspx?channelid=9&ItemID=4566
I have an additional $20K on the sidelines for FAZ....
Just another thought on the residential "housing market" ..... what happens to all of those poor, old retired people that were convinced to put a reverse mortgage on their homes in hope of a continuing income until death? Now their houses are upside down and the bank cuts off payments, wants to repossess their house and kick them out....great now you'll have granny and grandpa needing to move into their unemployed son/daughter house....
It's insane how horrific news keeps being published and the market continues to rally.... WTF? Where has it ever been said "buy companies that are radically in debt, don't have a product to sell and can't generate enough revenue to keep people employed"?
Negatives in the market:
Unemployment- True unemployment is beyond 10% and rising each week!
Housing - over the last 18mo we've experienced the largest decline in home values and foreclosure increases in history
Banking - Banks are over-leveraged, ill-liquid and sitting on millions of non-performing loans and aren't addressing people in dire straights who are trying to make house payments because they don't want the negative equity or risk on their books
Retail - If you don't have a job and can't get credit you DON'T have discretionary income to spend -end of story-
Government Spending billions of tax dollars pumping up the financial industry, Insurance industry and Auto industry ...all the while the Medicaid program and Social Security are being rapidly depleted (without a solution in place)
WTH are people thinking by continually bidding the market up?!?!?
I'm right there with you Lang 4500 shares avg $5.53 - had to work today without access to monitor, reviewed it last night (futures in the RED) and thought today would turn out exceptional
SPX appeared fairly shaky on Friday - I wasn't sure which way the markets were going to go, still believe things aren't going to rally....pullback is bound to occur
Cramer....Well, it wouldn't be the first time a public figure was 'influenced' (by the govt) to 'modify' the truth and 'public' expression of their 'true' opinion....
I gained a tremendous amount of knowledge working in finance but am very grateful to have other current employment opportunities~
GLTY and your trades tomorrow
I publicly called it and have been trying to pass on my knowledge of the financial industry. The govt 'assistance' (TARP, pushing M/As, etc.) to artificially increase financial institution pps so they (banks) could sell shares and raise additional money.....
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37804224
I hate to present such a "Doom & Gloom" perspective but things are going to become "real" .....in a very rapid manner.
This week will ROCK for numerous plays we're in Mtcinc0 - bring on the dramatic fall of the false supported, overinflated, non-fundamental based finance stocks
NP, glad to help clarify the AH quotes
FAZ AH quotes and links
FAZ $5.90
http://finance.yahoo.com/q?s=FAZ&=
FAZ $5.89
http://www.nasdaq.com/aspxcontent/ExtendedTradingTrades.aspx?selected=FAZ&mkttype=after
http://www.nasdaq.com/aspxcontent/ExtendedTradingCharts.aspx?page=afterhours&mkttype=after&&symbol=&selected=FAZ
FAZ $5.90
http://money.cnn.com/quote/quote.html?symb=FAZ
Try again...
I would tread very cautiously when dealing with those rubber foam shoes!
SPX charts (link back)
The Daily pierced the 20dma and closed barely above the 881 support line....
The Weekly closed slightly below the 5ma at the 885 line....
I definitely welcome thoughts and opinions...
have a great weekend!
FAZ - Good News and I'm still holding it all
Fitch says may cut 9 U.S. banks ratings
Fri May 15, 2009 2:20pm EDT
NEW YORK, May 15 (Reuters) - Fitch Ratings said on Friday it may cut the ratings of nine U.S. banking groups including Wells Fargo because they are increasingly vulnerable to deteriorating loans.
Fitch, in a release, placed on review for possible downgrade the ratings of; BB&T Corp (BBT.N), Discover Financial Services (DFS.N), Fifth Third Bancorp (FITB.O), KeyCorp (KEY.N), M&T Bank Corp, Popular, Inc, Regions Financial Corp (RF.N), SunTrust Banks Inc (STI.N) and Wells Fargo & Co (WFC.N).
"Today's actions reflect Fitch's view that these institutions show an incrementally higher level of vulnerability to the credit deterioration which Fitch expects to continue across virtually all loan categories," the rating agency said. (Reporting by John Parry and Caryn Trokie; Editing by James Dalgleish)
LINK: http://www.reuters.com/article/marketsNews/idUSN1528264320090515
Marked your board in my Fav list -Excellent content and charts
Anytime you click on the map it zooms in there are + and - buttons in the upper right hand corner you can use to zoom back out
Check out the financial sector on this graph... I keep this on my desktop for a quick reference to market sentiment.
http://www.finviz.com/map.ashx?t=sec
WHY is FAZ down when the financial sector is almost solely RED? This market is ridiculous...
M7 what do you think about this weekly chart? Large Caps ready to begin the down cycle?
FAZ -wow look at that chart climb back up.....Link back for chart
I was able to add to my position on the dip this am @ 5.98
FAZ --Financials were down today- FAZ rose to a new high today
I have 7+ years background in the 'banking industry',previously worked for one of the 'failed institutions' and extensive experience in the financial realm.....you can choose to take my words in context to what's happening in the financials or ignore me...
IMO there's more truth and 'clarity' to come from this crazy market over the next few weeks/months. Remember, more variable ARM (3 and 5 yr) loans were written and will come due to adjust from Q2-Q3 09' (summer refinance trends from 03' and 06') and throughout 2010. The "loan modification programs" are NOT as deep, wide or broad as the media would like to portray. I would speculate to say that 1 in 10 actually achieve success with an accurate modification that prevents foreclosure.
Additionally there is yet another wave of foreclosures just beginning within the commercial mortgage sector. As more small business are faced with layoffs, downsizing and eventually bankruptcy these same businesses are being forced to close their doors. This creates an overabundance of commercial rental properties that are NOT occupied or generating revenue for property owners. These are LARGE (often multi-million $ properties) that are sitting empty and underutilized. Commercial property owners will only hold onto these vacant, revenue negative properties for so long before they also begin to default on their loan payments.....
Just perform a google search and review the current foreclosure stats throughout the US.
Govt money can only buy so much time when the foreclosures and the unemployment cycle continues to gain momentum....
OT - just working in the garage putting on my new ITP wheels and HD tires on the quad...can't wait to go riding this weekend!
P.S. future are forecasting -25 I am banking on another RED day tomorrow
FAZ all the way...take a look at my summary since I've been in the industry for over 7 years and worked for one of the largest institutions that 'failed' last year..
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37767395
Don't want them to slide too much since I want to add another 4000 shares to my FAZ position in Premarket tomorrow!
I LOVE red...bring it on
Loving it- DJIA futures are currently -6
SRS is incredibly fluid and moves.... good one to flip and possibly hold for a longer term swing (1-2 weeks possibly)... The 5-minute intraday chart shows that the last 8 trading session have been a rollercoaster!
SRS one of the most outstanding bottom bounce charts I've seen in a LONG time
IF only the president and a few other "Financial leaders" were as honest about the info referenced in my previous post..... Commercial loan failures are coming-- IMO....the sea of red will continue
If yesterday was the test drive what was today? Possibly the first lap of 100? Thanks for your excellent charts on FAZ!