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Futures down 22 right now since close. Ouch.
Buzz
Dow 7500 by April. Probably a lot sooner.
State of Californial has 3 months of unemployment money left. The shit hasn't hit the fan yet.
Buzz
Another short one. eom
PS, you have to let a bottom form, not try to pick it in the indexes.
The more that keep calling for a bottom, the farther we'll drop.
Buzz
This sure looks like a new bull, LOL. Seriously though, it does appear to be capitulation, deeply oversold and in need of a relief rally just to rebalance shorts. But that doesn't mean the new bull has begun. Just a snap back.
Buzz
So much for that, took out yesterday's low. eom
AHHHH, that's the measure of a bull now, if it's up versus the daily low, even if it's down overall. I was confused. ;)
Buzz
To declare a new bull market on a day the dow closed down over 300? Yep, that's a gutsy call to consider that a bull market. It might start tomorrow though, if the fed and eu both do a rate cut.
Buzz
all in
Another one of your strange bull markets started yesterday.
Buzz
not if it's Ihub contest. eom
Ebay interesting me here long term, maybe a nibble soon.
Buzz
Rate cut in AM? I bet we do by thurs.eom
ur prob is, you can't tell the difference between a snap back, a bear market relief rally, and a real bottom.
we have seen enough fear to mark a bottom however, but i don't think all the bad news is behind us yet.
None the less, I'm pretty neutral right now. The Dow hit my target (and then some), so I really don't know what's next. I do think it's likely we get a relief rally soon, maybe tomorrow, but could see another leg down to 8900. The scary part is, there isn't a lot of support between there and 8100. On the other hand, we may just bounce around 10K until the new year.
Buzz
rotflmao
Nice relief rally. Very bearish sentiment, but also just a ton of people calling for a low. Tomorrow should be fun!
Buzz
the market rarely does what it "looks like" or "should".
Buzz
Next stop may be 8800. Want to see how 9.6 t 9.8 support holds. Should get a relief rally soon back to 10,400.
Buzz
Nice call. eom
Raw's new bull market is sure a strange one. Looks like a big gap down in am, although anything can happen overnight. But looking more like early October.
Posted by: BuzzOnDaBeach Date: Tuesday, September 09, 2008 3:10:33 PM
In reply to: None Post # of 167161
I now believe dow will test 10K by end of oct. eom
Yes, for the past 20 years. eom
That was either the shortest bull market in history, or it's the weirdest.
Buzz
With no volume behind the one up day. eom
Did the next bull market start today?? eom
I wonder how many times you'll welcome us to the next bull before it becomes a reality.
Buzz
Dude, s and p tagged 1116 today, way below previous lows.
Buzz
Posted by: Rawnoc Date: Thursday, September 18, 2008 3:10:05 PM
In reply to: MSGI who wrote msg# 167620 Post # of 168644
Welcome to to the next bull. Born September 18, 2008.
I hope so as they're another place I'm looking at banking now. I have several friends who bank there, and they all love it.
Buzz
Regardless who is writing it down, the bottom line is it comes out of something that is currently stated as an asset on WM's balance sheet, but 30 billion of that asset doesn't exist.
Before the run they were. But they lost 16 billion in deposits in two weeks, and had O liquicity. If this deal hadn't happened, wamu was bk.
Buzz
My understanding is wells fargo carries a huge subprime mortgage base that they haven't written off yet. They may be the next to fail, lol.
Buzz
Several things,
9 billion of that 26 billion is "goodwill", which is imaginary. so take that off. That leaves you 17 billion. They list 258 billion of long term investments. At least 30 billion of that is bad mortgage debt that has yet to be written off. There's some other stuff in there, but you're already at negative 13 billion in equity.
WHat the sentence you quoted says is "equity, senior debt, and subordinated debt holders. That means, the equity holders, stock holders in other words, get nothing from the deal.
Buzz
Thanks for the info mikey. I opened a bofa account a few weeks ago for safety, so may move my banking over there.
Buzz
Do you know anyone who banks at chase? Are they any good? Many years ago I had a morgtage with them, and I did like their service on that - I took out an equity line of credit for a small remodel, and they were really great. This was in the early 2000's.
Buzz
well, unless you sold the close friday, you would never have been in profit on WM .... bill.
Buzz
Posted by: Rawnoc Date: Friday, September 19, 2008 8:53:49 AM
In reply to: THE_YAK who wrote msg# 167716 Post # of 168296
Was loading WM all morning under $4. Was up 3 hours before premarket dying to pounce on WM.
Grabbed all the DSL they'd let me have at 3.00 too, but have way way way more WM.
Raw
Depends on the buyout terms. Preferred and bond holders may be first in line, but if you strip out the home loans, I would think the rest of the business has enough value to warrant something for the shareholders.
We should know in about 30 minutes, but the futures market, now down 15, is pricing in the common being wiped out.
Buzz
Really too bad. WAMU is a great bank, and I will miss them.
Buzz
socal news stations. eom
The reason I ask, I just mailed some bills written on a wamu checking account. So they'll clear ok, right?
Buzz