Although he looks alone, somebody wants him on the phone.
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Wow, I have never seen futures this strong on a Sunday evening before. Glad I'm out of FAZ.
The trouble is, a lot of gap will fill before the open tomorrow. Oh well.
You might be right. But a lot can change over the weekend. I can't ever justify holding FAS or FAZ over a weekend.
Let's see what happens in Europe this weekend. If the EU finance ministers come out of their meeting in dis-array and Christian Democrats lose the power in Germany, and both look like they could happen, then it will a rocky road for financials this week.
FAZ may be the place to be.
You're right. 100%. I have no argument with you. Look at my posts. I agree with you completely. In fact, I was the one who brought up the fact that North Korea is no longer on the terror list:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=49924699
But here's the point: It's a made up fictional web-site about a made up fictional company, trying to lend credence to a hi-jacked shell that once represented a legitimate company, that failed. Whoever was hired to create the web-site didn't realize that North Korea was an international pariah, or that the pictures that they collected and posted on the site were hopelessly obsolete.
What's interesting is that after the point was raised, the web-site went down for a day, then re-appeared with no mention of North Korea.
Get it straight. The claim that they do business with North Korea comes from nowhere but the company itself.
http://webcache.googleusercontent.com/search?q=cache:KVuaQoF3gw4J:www.innotrek.com/english/page6.html+http://www.innotrek.com/english/page6.html&cd=1&hl=en&ct=clnk&gl=us
Maybe you already know this, but the censored version still exists in a Google cache:
http://webcache.googleusercontent.com/search?q=cache:KVuaQoF3gw4J:www.innotrek.com/english/page6.html+http://www.innotrek.com/english/page6.html&cd=1&hl=en&ct=clnk&gl=us
No, it's not a Chinese company. RMDM is a shell headquartered in a closet in Henderson NV. (Las Vegas).
It doesn't actually do anything. It and other shells are pitched as a way for small companies (which may or may not exist, it's not really important) to "go public" without having to go through the "hassle" of an IPO. The A/S is inflated to max possible, and large chunks of shares are handed around to settle liens, or make former principals happy, whatever. Then the shares are pitched to the public in the hopes that some kind of heat can be generated, bringing in a bunch of "investors" eager to buy the stock as it begins to go "To Da Moon!"
Unfortunately, unless you bought it early and are disciplined enough to dump it when the urge is most overwhelming to buy it, the only part of the moon trip you get to be on is the burning up during re-entry part.
One nice effect is that you can buy options further in the money for less than $3, meaning the price ticks are in pennies instead of nickels.
That stuff is obsolete because the people who created that web-site don't know diddly about computers or electronics. Look through the whole web-site. There is nothing there about anything real. Just a bunch of pictures and some diagrams probably cut and pasted from other places on the internet. I never really bothered to poke around the web-site before because I knew it was all a ruse, but I wish I had before. If you know anything about computers and networking, you'll see it was put together by someone with only a rudimentary understanding of the subject.
This whole deal is fictional. Flip this shell.
Those "chips" are stone cold obsolete in today's computers.
And George W. Bush, in another one of his amazing displays of uncanny intelligence, actually removed North Korea from the terror list for "behaving" with thier nuclear programs.
This is all fiction anyway. Look at the parts shown in those pictures. Those chips, transistors, relays, and potentiometers are all straight out of the early eighties. Those aren't being installed in any modern day Internet equipment, or whatever they claim they are selling to North Korea.
http://webcache.googleusercontent.com/search?q=cache:KVuaQoF3gw4J:www.innotrek.com/english/page6.html+http://www.innotrek.com/english/page6.html&cd=1&hl=en&ct=clnk&gl=us
Man jimstock, you just don't get it do you?
Fire Lane ain't saying it. Innotrek says it.
"Our exports market is mainly located at North-east Asia. We have established long-term business relationships within countries such as North Korea, hence, building up our sales contacts within these countries."
I've sold all my FAZ before the close. $15, I'm happy.
Beware of a possible short cover rally during the last half hour.
Only if the .0002s beat the trade halt!
OK, but I never buy out of the money options. They are way too expensive, just about always a sure loser.
The sweet spot is in the money, the first strike with a delta above .9
$20 front month? Those are awfully expensive. You're giving away .25 of FAZ movement just to overcome Theta decay alone.
$10 calls have almost no Theta, and will move nearly one for one with the underlying.
$20 calls are expensive. $10 calls are cheap.
Common sense??? ROFLMAO!!
OK, let's pretend there was a buyback. Look where the share price is. Where do you think it will be once the price is no longer supported by the buyback?
Yeah, very much so.
I had alarms set up on some of my holdings, and as I watched some of my long holdings crater down to zero, one of the last things on my mind was selling out of a bear bet (FAZ).
I mean literally, I was shocked.
Fortunately, I made no trades during those moments.
There was some sort of malfunction going on, and hopefully we'll get a straight answer on this. Maybe before the bell tomorrow.
Wish I could have sold this above $15 today, but as I said earlier, that was a wrenching few minutes. Oh Well.
I don't normally like to hold FAS or FAZ overnight, but I think it's safe tonight.
I lost more than $10,000 for about 30 seconds there!!
Whoa. OK, I'm resucitated.
EXC was forty two cents!! I almost bought it there!! But I was too busy being passed out on the floor to take advantage of it.
It's getting real ugly in Greece.
It's spooking the financials. I don't like it, but you've got to take the money the market tries to give to you.
I'm in FAZ today too. Wished I'd have bought it Tuesday morning.
RIFIN 800 looks very do-able.
"The right news could do it."
And therein lies the problem, doesn't it?
And don't forget Roger Babson!
Unfortunately, I don't think there are any videos available.
Uh-Oh... If Tony Hayward is correct in this article, then that's troublesome.
He said "the real issue is the failure of the safety equipment," a component called the blowout preventer which is not managed by BP.
"That is a piece of equipment owned and operated by Transocean, maintained by Transocean; they are absolutely accountable for its safety and reliability, and they report to the regulatory authority for its safety.
http://finance.yahoo.com/news/BP-oil-leak-will-be-stopped-apf-2961931187.html?x=0&sec=topStories&pos=3&asset=&ccode=
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LOL, within minutes of my sell, it ran up another 60 cents!
But that's the way that always works.
I'm just scared to hold it through the earnings announcement.
I'll be back tomorrow.
It's too early to let that enter the equation. I mean, Transocean's underwriters might sue BP or Haliburton for losing the rig, who knows?
This will all come out in the investigation, and that will take many months.
Right now this is in play because of the sharp loss in market cap. I've made some good money here, but watched some of that fade away. I'm selling at $72.76, and it looks like it may go within the next few minutes.
Yeah, but that's just Meredith Whitney.
I mean if you listen to her or Nouriel Roubini, you think it's all over. Doom, Gloom. The world is coming to an end. Gosh, you have to wonder why the world even bothers to keep on turning.
Anytime those two Doom twins get any airtime, especially on the same day, you know it's time to load up on FAZ.
This was on CNBC the other day:
http://www.meredithwhitneyllc.com/press_video_home.php
It's not that the banks have forgotten how to price risk, it's just that they can't properly price it, because the FED continues to hold interest rates at artificially low levels.
If those containment domes work, RIG is going to be a hero. The way I understand it, this work is being done by Transocean. However, if the domes get crushed, or otherwise fail, then who knows.
If this leak runs for 3 months, then it's going to be a real big disaster, environmentally and for the share price.
One of three leaks has been capped.
First containment chamber will be installed tonight, or tomorrow.
Earnings release this afternoon.
Volatility, here we come.
Nope. The RIFIN is oversold. Take your profits from FAZ and buy FAS.
The big difference between now and when we set the previous lows, is that the financial sector is profitable now, versus on the brink then.
3:1 forward split!
OK, here's the turning point.
Time to buy under $32.
No buy in point today. I thought it might get ugly, and it did.
I should have bought FAZ at the open.
The market gets mauled and RIG finishes about even.
The "bottom" feels firmer.
Sovereign debt rears it's ugly head again, just when we thought it was behind us.
FAS will open more than 2% lower, buy that may just be a buy-in point.
Factory orders and home sales data comes out this morning. That could change things for the better, maybe spark a rally.
Too close to call. We'll have to wait and see.
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Okay, only a 4.85% gain.
Sorry about that.
Think about it.
By law the liability belongs to BP.
The operation that led to the explosion was being conducted by Haliburton.
The failed blow-out preventer was built by Cameron.
Now moving forward, it's Transocean that has the submersibles needed to conduct underwater operations, inject dispersasnts, and install the containment domes. Releif wells will need to be drilled, and rigs and platforms need to be supplied for that.
In other words, in a great twist of irony, Transocean stands to be paid big bucks by BP in the process of getting this mess fixed.
To say that BP might go after Transocean to share in liability is certainly a good question, which I have no answer for.
But yeah, I'm thinking this is oversold.
I'm in at $70.76.
This is way oversold. I'm hoping $69 was the bottom.
We'll see.