The day I said CGT was a buy was on Feb. 2nd, it closed that day at $5.64. The stock hit a high today of $6.30 (around a 12% gain...not bad). I told u guys to buy STEM on Jan 2nd, it closed that day at $1.43. That stock hit a 52 week high of $3.07 on Jan 26th (approx 115% gain). So in less than two months I told all of u guys to buy a stock and both times they rose in less than 3 weeks. I credit Ether_Snake for letting me take notice of CAE.gkrykewy said:
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Stock-Age: Stocks, Options and Dividends oh my!
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Ether_Snake
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gkrykewy said:
No, the trading started at like 3pm, after the meeting. Before that it wasn't trading. CAE ticker on NYSE is another company (Cascade).
CAE = CGT on NYSE, CAE on TSX.
toxicgonzo
Taxes?! Isn't this the line for Metallica?
Creditors Allege Shady Insider Dealing In Midway Bankruptcy
When mystery man Mark Thomas acquired troubled Midway for a mere $100,000 last November, the deal raised more than a few eyebrows.
If paid in full, the Thomas Parties will recover some 30,000% on their $100,000 investment within a matter of a few months
http://www.gamepolitics.com/2009/02/15/creditors-allege-shady-insider-dealing-midway-bankruptcy
Wasn't somebody in this thread invested in Midway?
When mystery man Mark Thomas acquired troubled Midway for a mere $100,000 last November, the deal raised more than a few eyebrows.
If paid in full, the Thomas Parties will recover some 30,000% on their $100,000 investment within a matter of a few months
http://www.gamepolitics.com/2009/02/15/creditors-allege-shady-insider-dealing-midway-bankruptcy
Wasn't somebody in this thread invested in Midway?
Ether_Snake
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Not that I know, but I remember someone being interested in buyign some.
http://www.nypost.com/seven/02152009/news/regionalnews/madoff_wall_of_silence_155259.htm
As Jesse's Café Américain said:
http://www.nypost.com/seven/02152009/news/regionalnews/madoff_wall_of_silence_155259.htm
As Jesse's Café Américain said:
Frontline: Inside the Meltdown premieres tomorrow on PBS if anyone is interested. Personally, I can't wait to see it.
toxicgonzo
Taxes?! Isn't this the line for Metallica?
It's just one of those days....
Ether_Snake
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ABX continues its gold rally.
BHI down 6%
BHI down 6%
CharlieDigital
Banned
tarius1210 said:
Thanks for that; got it set to record.
tyguy20204
Member
Well the Dow is looking to test November lows.
The S&P is holding firm at around 793 for the moment being, 752 being its November low.
The S&P is holding firm at around 793 for the moment being, 752 being its November low.
Ether_Snake
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U.S. marshals seen entering Houston office of Stanford Financial Group: Reuters witness - Reuters
EDIT: SEC says charges Robert Allen Stanford, 3 of his companies for alleged fraud involving $8 billion CDS program
http://www.bloomberg.com/apps/news?pid=20601087&sid=ajbZlE11AuDg&refer=home
EDIT: SEC says charges Robert Allen Stanford, 3 of his companies for alleged fraud involving $8 billion CDS program
http://www.bloomberg.com/apps/news?pid=20601087&sid=ajbZlE11AuDg&refer=home
I have money to buy, but I'm trigger-shy right now. We're dangerously close to 7500. There's been support(?) there, but have we reached the breaking point? Everything I own is down right now. Not that I didn't expect something like this to happen, but there aren't the crazy (and lucrative) daily swings like Nov/Dec, so it looks like I'll be waiting for a bit.
What's a surefire company that won't be going bankrupt this year? Everything will come back in time, but that's assuming there aren't lots of bankruptcies. I don't know about that anymore. Zale could be in some serious trouble. I don't see a lot of solars surviving the worldwide massacre. BankAtlantic is stinking up the joint on a mixture of insider trading and wtf knows. The only thing I'm holding right now, that looks to have a future, is Citi, and only b/c the government seems hellbent on giving them money. If the banks are nationalized, I assume it'll be one of the first ones, which would suck even worse. What can I invest in without having to worry about them filing for bankruptcy this year? PEACE.
What's a surefire company that won't be going bankrupt this year? Everything will come back in time, but that's assuming there aren't lots of bankruptcies. I don't know about that anymore. Zale could be in some serious trouble. I don't see a lot of solars surviving the worldwide massacre. BankAtlantic is stinking up the joint on a mixture of insider trading and wtf knows. The only thing I'm holding right now, that looks to have a future, is Citi, and only b/c the government seems hellbent on giving them money. If the banks are nationalized, I assume it'll be one of the first ones, which would suck even worse. What can I invest in without having to worry about them filing for bankruptcy this year? PEACE.
tyguy20204
Member
Any company with a large cash flow and good business model should be fine.
As far as sectors, Biotech is actually doing quite well. I might advise checking out the generic drug companies. TEVA, for example, just posted good earnings and good forecast.
As far as sectors, Biotech is actually doing quite well. I might advise checking out the generic drug companies. TEVA, for example, just posted good earnings and good forecast.
Ether_Snake
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Well like I said before I am waiting to see front page articles about the crisis and its impact on China. Until I see that, unless China pulls of a miracle, I'll believe we're not close to the bottom.
Too many people are being laid off worldwide for this not to lead to some massive transformations, transformations we haven't even seen the hint of so far. Things will change permanently, but for that to happen there would be really serious consequences that we haven't seen yet. Right now is still a fall, but I don't see how we could go up again without landing, and that landing at this point can only be a crash. I was optimistic the US could pull off the right moves, but it is obviously corrupted from head to toe.
Too many people are being laid off worldwide for this not to lead to some massive transformations, transformations we haven't even seen the hint of so far. Things will change permanently, but for that to happen there would be really serious consequences that we haven't seen yet. Right now is still a fall, but I don't see how we could go up again without landing, and that landing at this point can only be a crash. I was optimistic the US could pull off the right moves, but it is obviously corrupted from head to toe.
http://finance.yahoo.com/tech-ticker/article/181000/Analyst-%22Nationalization%22-of-Citi-and-BofA-Inevitable-in-%2709?tickers=^dji,c,bac,wfc,jpm,^gspc
I think nationalization would be the best thing for banks right now. When the economy starts to turn around and the banks balance sheets are cleansed of these ''toxic'' assets, then the banks could go back to business as usual (with a bit more regulation of course).
Pimpwerx said:
Major props for that reference - you made me lol. PEACE.
Ether_Snake said:
My friend is in India right now and he says that, surprisingly, all of the Asian press is rather positive, and comparing this downturn favorably to the last Asian downturn. I dunno what to make of this.
Ether_Snake
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gkrykewy said:
Actually I haven't heard anything major from India, aren't doing fine compared to most countries?
But for China, I just don't believe they can managed to do the necessary transformation their economy will need to make up for the fall of demand from the US and the rest of the world, without imploding. I think there could be a strong rally for the Chinese economy during that initial period, but a very hard fall soon after. China can't self-sustain, they really need the US demand, but it will never return even close to what it was (unless jobs come back to the US).
BTW how is inflation going to help the average American, can anyone explain that? And how will the feds achieve this?
http://finance.yahoo.com/news/BofA-and-Citi-shares-fall-on-rb-14414973.htmlNEW YORK (Reuters) - Citigroup Inc (NYSE:C - News) shares fell to almost 18-year lows on Thursday, with Bank of America Corp (NYSE:BAC - News) stock also plunging, amid renewed fears that growing losses could lead to government control of troubled U.S. banks, wiping out shareholders.
In addition, insurance companies' stocks plummeted -- led by Hartford Financial Services Group (NYSE:HIG - News) -- as declining stock and bond market values added to concerns about weakening investment portfolios and capital positions.
"When you talk about nationalization you hear the names Citi and Bank of America as the top two names burning out," said Walter Todd, a portfolio manager at Greenwood Capital Associates, which holds shares of Bank of America.
Bank of America dropped 7 percent to $4.25 on the New York Stock Exchange at mid-afternoon, while Citigroup fell 10 percent to $2.62 after touching $2.50 -- its lowest level since July 1991.
The KBW Financial index (Philadelphia:^BKX - News) fell 3.59 percent to 22.58 after touching a 17-year low.
Last month, Bank of America Corp (NYSE:BAC - News) posted its first quarterly loss in 17 years, after mounting losses at recently acquired Merrill Lynch. Citigroup has lost $28.5 billion in the last 15 months, hammered by bad debts and toxic assets.
Each bank received $45 billion in government aid in recent months and a backstop on toxic assets-related losses, more than their current market value.
The U.S. Treasury is expected in coming weeks to subject up to 25 banks with assets exceeding $100 billion each to "stress tests" to decide which banks need additional capital.
And support for nationalizing troubled banks seems to be growing. Republican Senator Lindsey Graham has said nationalization could be an option, while former Federal Reserve Chairman Alan Greenspan said government intervention could be the least bad alternative left for policymakers.
"People are afraid of the government at this point. The market is selling off on the lack of information. Tell us something, please," said Anton Schutz, president of Mendon Capital.
INSURERS SINK
Investors' fears also hit insurers stocks, with the KBW Insurance index (Philadelphia:^KIX - News) down 3.65 percent to 58.05.
Insurance companies have massive investment portfolios that fund their ultimate liabilities. As markets were hurt on Thursday, investors grew concerned that insurers' investment portfolios would be hit.
"Today seems to be 'Sell Everything Financial,'" Schutz said.
American International Group's (NYSE:AIG - News) shares plummeted 16.4 percent to 61 cents, and Hartford Financial stock was down 19.3 percent at $8.26.
Prudential Financial (NYSE
BAC and C down 10% today
Ether_Snake
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Why is Goldman Sachs always doing fine, even on such days?
Ether_Snake
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But I'm wondering why THAT financial institution is doing fine. Don't tell me they just happen to have really good management. Anything those guys knew everyone knew, and vice-versa.
EDIT: Nikkei continues to fall. So it looks like I was right when I said last week that this was the way down. At least I added to BHI instead of other stuff, the only thing I have that could go up in the near future. But not enough to make money.
EDIT: Nikkei continues to fall. So it looks like I was right when I said last week that this was the way down. At least I added to BHI instead of other stuff, the only thing I have that could go up in the near future. But not enough to make money.
tyguy20204
Member
Ether, my friend, you're way too pessimistic. I'm not saying that we're not going to see some lows coming up here, but my god man, every single post of yours makes reference to the end of the world!
This isn't the first recession we've been through and it won't be the last.
This isn't the first recession we've been through and it won't be the last.
Ether_Snake
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Yeah I wasn't "there" last time but I don't believe this is close to what we've seen in the past 30 years. Americans have been losing jobs continuously for years (the official numbers are misleading), and true purchasing power has been going down over that time. China's economy is based on an unsustainable level of demand from the US. That demand was only possible thanks to easy access to massive amounts of credits. The very idea of a massive trade deficit with China COULD NOT have happened without the massive access to credit because without that the process of producing cheaper goods overseas at the cost of US jobs would have been unsustainable at first sight.
So basically everyone's expectations are based on what was merely an big illusion. It is unlike what we've lived through before. We are trying to bring the economy back to a level it cannot return to unless we all decide to play the same game when we already all know the outcome.
I don't see it as pessimistic, I see it as realistic. The US will not return to its past levels of consumption, unless there is once again excessive credit/loans access, which wouldn't last for long (takes probably half the time for a bubble identical to a previous one to crash, because of the learned-lesson factor).
I really think we are seeing an averaging of income/purchasing power/standard of living between two poles (US and China). It is a balance-inclined result, like anything else in nature.
So basically everyone's expectations are based on what was merely an big illusion. It is unlike what we've lived through before. We are trying to bring the economy back to a level it cannot return to unless we all decide to play the same game when we already all know the outcome.
I don't see it as pessimistic, I see it as realistic. The US will not return to its past levels of consumption, unless there is once again excessive credit/loans access, which wouldn't last for long (takes probably half the time for a bubble identical to a previous one to crash, because of the learned-lesson factor).
I really think we are seeing an averaging of income/purchasing power/standard of living between two poles (US and China). It is a balance-inclined result, like anything else in nature.
Ether_Snake
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STP has gotten completely crushed over the past two days. Now down at 7, it was at 9 when it first started trading a few years ago.
kathode said:
When the market was up and down yesterday near close, I was curious to see if it would manage to close under 7500. When it did, I figured that would lead to a drop today as investors would lose support for that number. Interesting to see where we will be at after today.
Also, that crazy guy and his predictions. Um, was he now just a week off?
While the Dow closing below its previous close is important, remember that the S&P500 is a much, much more important index. The Dow is a price-weighted index. As such, most of its move is dictacted by high-priced stocks, like IBM. Dow components like GM, BAC, GE, etc., really don't have an impact on the index anymore. 90% of professional traders use the SP500.
The significant even to watch out for is close below 750. Right now the market seems determined to test that low. We may or may not. Who knows.
According to my numbers, which I base all my trades off, the market is significantly oversold. In fact, we're more oversold now than we were back in November. I would normally be loading up on call options right now but the fact that bank nationalization seems like a very real possibility means I have to go slow. I believe the market is either going to have a massive rally (assuming we hold the Nov low) or is going to have a swift crash. When the market is THIS oversold, those are really the only two possible outcomes.
I'm 90% cash right now. I own BDK, UPS, SO, PM, PG, and AVY calls. I own AKAM puts.
The significant even to watch out for is close below 750. Right now the market seems determined to test that low. We may or may not. Who knows.
According to my numbers, which I base all my trades off, the market is significantly oversold. In fact, we're more oversold now than we were back in November. I would normally be loading up on call options right now but the fact that bank nationalization seems like a very real possibility means I have to go slow. I believe the market is either going to have a massive rally (assuming we hold the Nov low) or is going to have a swift crash. When the market is THIS oversold, those are really the only two possible outcomes.
I'm 90% cash right now. I own BDK, UPS, SO, PM, PG, and AVY calls. I own AKAM puts.