Merrill certainly has made significant progress towards balance sheet reduction. At this rate, in a week or so, they won't even have one to worry about!
damn you dp! It took me that extra 5 seconds to think up a luke-warm, slightly relevant comment!!! Just long enough for the enviable first post to be snatched away
Isn't Merrill the one that reduced its exposure by getting some hedge fund to take its toxic assets on the condition that Merrill finance the sale and be responsible for any losses over a nickel?
Nice to know, but how does one take advantage of this information if one believes it? (yes, I'm a newbee)
Is it as simple as buying an index for one day, or should one roll the dice on a stock? and how much should you expect to make to make it worthwhile after paying the transaction costs?
Questions from a newbee. And if a book covers this, please recommend.
Through all this media drivel, I've yet to see anything in the "Plan" that's going to stem the downward pressure on real estate. 35% downpayments now required in FL,CA,AZ, and NV. That's going to help...blah, blah, blah....
Stop being greedy and protect what you have saved. This is no time for a newbie to get into speculation game. Even the pros are getting their heads handed to them.
Before you take advice from nayone better check their 10-year, or longer, record. Please.
Recession is over. "Depression" words erased from vocabularies. Worldwide rally followed by endless orgy (just be afraid of being on the right side - not the front one).
Can I haz a mortgage? Oh shi I already have one....WTF, i'll get my bailout for sure..
I saw abbey joseph cohen and thought wtf why does anyone, even cnbc, care about what she says anymore? And by the way can someone tell becky not to flirt with the camera before each commercial break or at least be consistent & do it on days when the futures are -200 as well.
True. Anyone who says the Democrats will come in after the election and do otherwise will be disappointed. It was Obama who said last night that we'd get the $700 billion back. I'm voting for him but I'm under no illusions that Wall Street will stop being catered to.
Jas Jain
Not looking to speculate, but I am looking to start practicing via paper trading.
If I notice an aptitude for it, I'll be doing smaller dollar investing. Can't expect to be ready if I don't know how the game is played and all of its rules (and I use that term loosely). As Citizen AllenM says "someday this war is gonna end".
And I did move everything to cash earlier this summer, and I'm paying down debt (very little other than my modest home) and controlling spending, too. My wife is finally realizing it's not a bottomless pool of money.
Forget it. Listen to the others posting on this site. They can't agree on much, but they can agree that you should stay clear of this game. Time to hunker down and conservatively mind your home and finances.
"Mad Cow Abby Joe Conman?!"
Hee, hee. Love it.
The lower the DOW falls, the better the nicknames and acronyms!
JoeGa: Run, do not walk, away from this market. Your idea of practice and research is awesome, but don't just research abstract stock moves and charts. (Calm down, chart people...)
Follow at least some aspects of the "real" economy, and start to get some ideas about the areas that you are comfortable discussing and thinking about. You will invariably discover good ways to put your knowledge and skills to use.
Lots of good resources right here, by the way.
JoGa,
If you're new to this. Watch the web sites people you admire refer to. Track those sites and determine the extent to which you find them useful.
There's nothing wrong with paper trading, but there is no intelligent trading without research.
At least Popeye is still around. Anonymouse has apparently head for the hills and won't be back until his S&P 1250 prediction comes true (maybe in a couple decades.)
i will summarize the last 23 quadrillion comments in a couple sentences.
we have 2 problems here:
the credit markets are frozen
we are entering a NASTY global recession.
the geniuses are working on #1; hard to tell if they will succeed; CR will be posting analysis about the various credit market data points daily.
if #1 starts to look like it is getting better, the markets will rally, prob for months. however....
2 will start to kick in, in earnest, right about the time everyone (the media) thinks disaster has been averted. this will (in many peoples opinion) result in another deeper leg down.
bottom line: dont even THINK about buying stocks until these 3+% day moves up and down are a distant memory.
Caution about paper trading as well...you do not make the same decisions when there is no skin in the game-trust me/us. It may seem like a good way to start but as others have said this is no market to begin anything in.
In this market doing nothing actually is something.
You mentioned yesterday about going long GooG calls but then changed your mind because you felt guidance would be terrible.....GOOG doesn't give forward forecasts. That is the one thing that kept me away from it from the start...sort of "trust us...now give us your money".
Fundamentals and TA are meaningless in this market. The game is rigged and they don't even try to hide it anymore. Even the SEC is in on the scam. What a joke!
Write downs = total losses = money that the Fed gave them going up in smoke = more money printing = more inflation = higher interest rates = more credit crunch = falling confidence = DOW dropping = deeper recession = more job losses = more foreclosure = more write downs...
Help - Page Not Found - Boston.com.
excuse me but i didnt think we had inflation. isnt the cola inflation based? you math people might be able to figure out what inflation rate they are basing this on.this is the largest in 25 years.
first?
Merrill certainly has made significant progress towards balance sheet reduction. At this rate, in a week or so, they won't even have one to worry about!
damn you dp! It took me that extra 5 seconds to think up a luke-warm, slightly relevant comment!!! Just long enough for the enviable first post to be snatched away
Penrod and Hoopajoop: Storied U.S. Bank, founded in 2009 to ensure infinite lending and prosperity for all.
Another 500+ point rally today.
I can get use to this.
Rollllllercoaster....!
Since true accounting will soon be optional, why rush to confess?
Now batting in the bottom of the 53rd inning...Merrill Lynch.
--
"The confessional is still busy!"
Too many BFNYC Crooks operated for too long!
Why is Mad Cow Abby Joe Conman, an MD at Goldchain Silverknife, still on CNBC and making millions?
The game of the Crooks is not going to end any time soon because McCain/Obama fully support the rule of the Crooks (they have to to get elected).
Jas
Another 500+ point rally today.
I can get use to this.
Rollllllercoaster....!
Yeppp.
Fundamentals are soooooooo improved.
(frantic rolleyes)
Isn't Merrill the one that reduced its exposure by getting some hedge fund to take its toxic assets on the condition that Merrill finance the sale and be responsible for any losses over a nickel?
Anonymous writes:
Another 500+ point rally today.
I can get use to this.
Rollllllercoaster....!
Agreed, could be 900+. The recession is over, it was all mental anyhow.
So, a one day rally is predicted.
Nice to know, but how does one take advantage of this information if one believes it? (yes, I'm a newbee)
Is it as simple as buying an index for one day, or should one roll the dice on a stock? and how much should you expect to make to make it worthwhile after paying the transaction costs?
Questions from a newbee. And if a book covers this, please recommend.
Old leverage ratio: 25:1
New leverage ratio: 3:1
Connect the dots.
On a positive note, artificial intel will be available soon to repopulate all lost jobs.
Thanks to the bailout, we are all write-downs now.
Through all this media drivel, I've yet to see anything in the "Plan" that's going to stem the downward pressure on real estate. 35% downpayments now required in FL,CA,AZ, and NV. That's going to help...blah, blah, blah....
With the Opex tomorrow, we should have a choppy session today finishing with a rally into tomorrow. Darkness falls Monday with a retest of lows.
Questions from a newbee. And if a book covers this, please recommend.
Just see whether CNBC Cheerleader's happiness looks fake or not.
Also DOW/S&P futures may help, but not always.
Pardners,
The BIG FISH of BofA has swallowed too many poisonous little fish.
Soon you will see it upside down on the surface of the water like my dead guppies.
Time to clean out the fish tank,,AGAIN!
Giddyup!
--
JoGa,
Stop being greedy and protect what you have saved. This is no time for a newbie to get into speculation game. Even the pros are getting their heads handed to them.
Before you take advice from nayone better check their 10-year, or longer, record. Please.
Good luck to you.
Jas
Recession is over. "Depression" words erased from vocabularies. Worldwide rally followed by endless orgy (just be afraid of being on the right side - not the front one).
Can I haz a mortgage? Oh shi I already have one....WTF, i'll get my bailout for sure..
Elvis is awesome! Hilarious! Much appreciated in the mornings.
http://sinfest.net/comikaze/comics/2008-10-16.gif
insert pony gag here __________
In a few months (weeks?) when the bail out money is gone it sure is gonna be fun when they ask for more.
Let's be real. Like I said last nite; this could be a Sebastian double bottom.
We will get the S&P 300 next year, but for now, we might be facing a 20% rise...
I don't know if anyone except the forrests and printing press technicians should be concerned about additional writedowns at this point.
Wish I had the last 20 seconds of my life back
Anyone got a spread on US bond market : all US equity markets over some long time frame (or links to same)? TIA
Is Kiewah island formerly known as Jeckyll island?
ugh. forests.
They don't gag ponies, do they?
JoGa writes:
So, a one day rally is predicted.
JoGa,
Predictions for one day rallies are unofficial until I call them.
I saw abbey joseph cohen and thought wtf why does anyone, even cnbc, care about what she says anymore? And by the way can someone tell becky not to flirt with the camera before each commercial break or at least be consistent & do it on days when the futures are -200 as well.
I think we go from a Sebastian double bottom right into a Popeye.
will I ever live this down ??
only if they've got something disconcerting to say
A cyclical bull within a secular bear.
Jeez, do these guys go to school to learn this stuff?
No on Kiaweh vs. Jekyll. Jekyll-creation of Federal Reserve. Kiaweh, developed by some Middle Easterners.
So, the connection you're trying to make isn't there, but, oddly, it has some weird aspects. About 80 years of difference though.
Ted Turner owns a bunch of dirt around there as well, last I checked. Had a rumble with the Gullahs, not sure if there was ever a resolution.
McCain/Obama fully support the rule of the Crooks
True. Anyone who says the Democrats will come in after the election and do otherwise will be disappointed. It was Obama who said last night that we'd get the $700 billion back. I'm voting for him but I'm under no illusions that Wall Street will stop being catered to.
Jas Jain
Not looking to speculate, but I am looking to start practicing via paper trading.
If I notice an aptitude for it, I'll be doing smaller dollar investing. Can't expect to be ready if I don't know how the game is played and all of its rules (and I use that term loosely). As Citizen AllenM says "someday this war is gonna end".
And I did move everything to cash earlier this summer, and I'm paying down debt (very little other than my modest home) and controlling spending, too. My wife is finally realizing it's not a bottomless pool of money.
JoGa-
what Jas said.
capital preservation is the name of the game now, trust me, thats what the big boys are doing.
K-I-E-W-A-H, darnit:(
nullpointer writes:
JoGa-
what Jas said.
capital preservation is the name of the game now, trust me, thats what the big boys are doing.
Supporting evidence: FT.com / In depth - US companies pass on buy-back opportunity
popeye writes:
will I ever live this down ??
the remarks about you are petty, IMO.
funny for like the first hour, but after that....meh.
Where's my rally?!?!?
thanks - ....and I can take a joke.
Actually, it's Kiawah Island
JoGa:
Forget it. Listen to the others posting on this site. They can't agree on much, but they can agree that you should stay clear of this game. Time to hunker down and conservatively mind your home and finances.
To all:
I truly appreciate the wisdom I see throughout the comments.
Special thanks to CR, nullpointer, jas jain, popeye, and citizen allenM.
Pope said, fool rush in where angels fear to tread. While I'm still the former, I'm smart enough to know it.
Best regards.
Keep the discourse coming.
No, I'm not selling anything.
Nice hit on Gold.
Which hedge fund is liquidating this time?
"mortimer, turn those machines back on."
"Mad Cow Abby Joe Conman?!"
Hee, hee. Love it.
The lower the DOW falls, the better the nicknames and acronyms!
JoeGa: Run, do not walk, away from this market. Your idea of practice and research is awesome, but don't just research abstract stock moves and charts. (Calm down, chart people...)
Follow at least some aspects of the "real" economy, and start to get some ideas about the areas that you are comfortable discussing and thinking about. You will invariably discover good ways to put your knowledge and skills to use.
Lots of good resources right here, by the way.
JoGa,
If you're new to this. Watch the web sites people you admire refer to. Track those sites and determine the extent to which you find them useful.
There's nothing wrong with paper trading, but there is no intelligent trading without research.
Where's my rally?!?!?
Bottom Dweller | 10.16.08 - 9:41 am | #
"Be patient" (TM)
At least Popeye is still around. Anonymouse has apparently head for the hills and won't be back until his S&P 1250 prediction comes true (maybe in a couple decades.)
JoGa,
All in dude. Man I get the best investment advice from comments to blogs on the intertubes.
Seriously though...go long ponies and squirrels.
Nostrovia,
Then again, you have all your ducks lined up and get a fool like Jerry Yang to pull the rug right out from under you.
Knowledge is power.
Thanks to all.
Ignorance is bliss!
JoGa-
i will summarize the last 23 quadrillion comments in a couple sentences.
we have 2 problems here:
the geniuses are working on #1; hard to tell if they will succeed; CR will be posting analysis about the various credit market data points daily.
if #1 starts to look like it is getting better, the markets will rally, prob for months. however....
2 will start to kick in, in earnest, right about the time everyone (the media) thinks disaster has been averted. this will (in many peoples opinion) result in another deeper leg down.
bottom line: dont even THINK about buying stocks until these 3+% day moves up and down are a distant memory.
ullpointer: nice summary!
joga-
Caution about paper trading as well...you do not make the same decisions when there is no skin in the game-trust me/us. It may seem like a good way to start but as others have said this is no market to begin anything in.
In this market doing nothing actually is something.
Ciao
MS
Gavshire-
You mentioned yesterday about going long GooG calls but then changed your mind because you felt guidance would be terrible.....GOOG doesn't give forward forecasts. That is the one thing that kept me away from it from the start...sort of "trust us...now give us your money".
Don't play that way...never have...never will.
Ciao
MS
MS writes: you do not make the same decisions when there is no skin in the game-trust me/us
A truer thing has never been said. Bless you MS
Asia Times Online :: Asian news and current affairs
a tidbit.
Asia Times Online :: Asian news and current affairs
another tidbit.
Recession looms despite global interventions
| Reuters
Will New Comp Rules Spread Past Bailed-out Firms? - - CFO.com
http://www.icba.org/files/ICBASites/PDFs/summary101408.pdf
warning pdf.
Fundamentals and TA are meaningless in this market. The game is rigged and they don't even try to hide it anymore. Even the SEC is in on the scam. What a joke!
Write downs = total losses = money that the Fed gave them going up in smoke = more money printing = more inflation = higher interest rates = more credit crunch = falling confidence = DOW dropping = deeper recession = more job losses = more foreclosure = more write downs...
cnbc dude last night promised a s&p rang of 903-1006...
just a little annoyed now
Help - Page Not Found - Boston.com.
excuse me but i didnt think we had inflation. isnt the cola inflation based? you math people might be able to figure out what inflation rate they are basing this on.this is the largest in 25 years.
gaby, we all have every wire available to us... no need for every article that catches your fancy
Merrill has been very busy at the confessional, and has largely finished with its penance. Too bad Citi still has many more trips to go.
Looks like $5.6B of WFC stockholder's equity are treasuries. No wonder the chairman declined Paulson's kind offer of preferreds.
So the confessional is not closed until I say so or WB files a financial statement, including P&L, Balance Sheet, and Notes. Whichever occurs first.
seriously: sorry will desist in tidbits
THE FUCKERS ARE STILL LYING -end of topic.
Damn I'm tired. Bye Bye