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[Relix]

DOW you are going the wrong way!

It's gonna end red quite probably.

 

[mckmas8808]

DOW you are going the wrong way!

I thought green was good. Why do you want the stock market to drop?

 

[Gallbaro]

I thought green was good. Why do you want the stock market to drop?

Because that is where it should go to reflect economic reality. The stock market reflects the economy, not the other way around.

Spoiler

I am shorting everything

 

[RotBot]

STEM is up a lot from the news. Too bad I bought near its peak and am still down 20%.

 

[Ovid]

I do not recommend financial stocks but I just wanted to let you guys know that JPM is oversold. The stock price should see a bit of a bump this week.

So it looks like I was right about J.P. Morgan today, until Buffett opened his stupid trap. It hit a high of $17.29 this morning. We have four more days to see if I was right about JPM. I hate the fact the one guy can dictate the market.

 

[Ether_Snake]

Yeah I looked earlier today when it was at its peak to see how it was doing since you said it would go up

I'm reading more and more articles finally speaking out and saying prices have been overinflated over years, and that we should not seek to re-inflate them, and also I see a lot more outright saying that China has a protectionist economy.

Let's hope people realize this sooner than later.

 

[RSTEIN]

So it looks like I was right about J.P. Morgan today, until Buffett opened his stupid trap. It hit a high of $17.29 this morning. We have four more days to see if I was right about JPM. I hate the fact the one guy can dictate the market.

You could throw a dart at a list of stocks and anyone of them would be considered "oversold". A lot of things were up this morning. Just a choppy day. S&P500 changed directions 25 times. Buffett's interview was this morning, didn't really have a whole lot to say about anything or any curdles of wisdom that would impact the market.

 

[Ether_Snake]

Oil is starting to go back up as more cuts are planned, but even then BHI has gone lower recently.

And ADSK seemingly heading below 11.

I could see ADSK being bought out in the future. They are a practical monopoly.

 

[RSTEIN]

Oil is starting to go back up as more cuts are planned, but even then BHI has gone lower recently.

And ADSK seemingly heading below 11.

I could see ADSK being bought out in the future. They are a practical monopoly.

I bought some XLE this morning, I have a tight stop tho.

 

[Ether_Snake]

I bought some XLE this morning, I have a tight stop tho.

Yeah that is probably smarter than buying a stocks from one company when it comes to energy:|

 

[tyguy20204]

Depends on what you're doing. For daytrading or swingtrading, yeah, sure, XLE would work. But if I'm going long I'd rather own shares of one solid company with a nice dividend. Also, I don't think natural gas will recover quite as well as oil will.

 

[Justin Bailey]

Citi announced they've been operating at a 8 billion profit so far in 2009. Woot! Also looks they'll actually grow in revenue from 1Q last year. Market should get some nice upward momentum on this news.

 

[kathode]

I bought some XLE this morning, I have a tight stop tho.

Twitter or it didn't happen!

 

[RSTEIN]

Twitter or it didn't happen!

oh yeah... forgot about that thing. The novelty wore off :lol

 

[kathode]

oh yeah... forgot about that thing. The novelty wore off :lol

I'm gonna start looking to get back into things this week. I need some ideas! I'm rusty. Good thing I didn't buy those GE shorts three days ago :lol

 

[RSTEIN]

I'm gonna start looking to get back into things this week. I need some ideas! I'm rusty. Good thing I didn't buy those GE shorts three days ago :lol

Just went short XLP. Even in this market it can't get any traction.

 

[Gallbaro]

Oh the pain.

 

[Javaman]

Oh the pain.

How much are you down if you don't mind me asking?

 

[Ether_Snake]

Oh yeah you shorted, ouch!

STP up 20%

 

[Gallbaro]

How much are you down if you don't mind me asking?

About 4% today

 

[Ether_Snake]

CAE signs service contracts and alliances in simulation-based healthcare training

http://finance.yahoo.com/news/CAE-signs-service-contracts-iw-14591653.html

Pretty cool, shows that CAE will diversify in other simulation fields.

I wonder if they might partner up with IMMR eventually?

 

[toxicgonzo]

About 4% today

Not bad, I saw financial short FAZ drop 30% today.

I don't know why, but I went into financial longs yesterday and it payed off nicely today.

 

[Gallbaro]

Not bad, I saw financial short FAZ drop 30% today.

I don't know why, but I went into financial longs yesterday and it payed off nicely today.

I am actually thinking of doubling down my shorts? Does anyone actually believe this Citi horse shit? I am figuring there is a 75% chance that tomorrow is a profit taking day and when Citi reports they are gonna fall like a brick.

 

[AstroLad]

i think stocks have nowhere to go but UP, UP, UP! (as i have been saying for some time already)

 

[Tarazet]

I am actually thinking of doubling down my shorts? Does anyone actually believe this Citi horse shit? I am figuring there is a 75% chance that tomorrow is a profit taking day and when Citi reports they are gonna fall like a brick.

Something tells me that "profit" is because of the TARP money. If it's from their operations, then that's an excellent sign.

 

[Epsilon-delta]

About 4% today

Short while you can because the SEC is thinking about reinstating the uptick rule next month.

 

[Epsilon-delta]

i think stocks have nowhere to go but UP, UP, UP! (as i have been saying for some time already)

It will go even higher IMO once the uptick rule is restored.

 

[AstroLad]

Exactly, the fundamentals of the economy are very solid and that is all that matters.

 

[Ovid]

So it looks like I was right about J.P. Morgan today, until Buffett opened his stupid trap. It hit a high of $17.29 this morning. We have four more days to see if I was right about JPM. I hate the fact the one guy can dictate the market.

Damn...called it again. JPM up 20% so far. Give credit were credit is due guys.

 

[Justin Bailey]

Something tells me that "profit" is because of the TARP money. If it's from their operations, then that's an excellent sign.

It is, their revenue is also up. They can't just take cash from the government and call it income.

 

[mckmas8808]

Citi announced they've been operating at a 8 billion profit so far in 2009. Woot! Also looks they'll actually grow in revenue from 1Q last year. Market should get some nice upward momentum on this news.

You mean 8 Billion for the whole 1st quarter?

 

[Ovid]

CAE signs service contracts and alliances in simulation-based healthcare training

http://finance.yahoo.com/news/CAE-signs-service-contracts-iw-14591653.html

Pretty cool, shows that CAE will diversify in other simulation fields.

I wonder if they might partner up with IMMR eventually?

More good news from this company. That is why I will never sell this stock, I'll just keep adding shares.

 

[mckmas8808]

Something tells me that "profit" is because of the TARP money. If it's from their operations, then that's an excellent sign.

Sonarrat check this information out about Citi!

Our pro forma tangible common book value would be $3.82 a share assuming maximum preferred conversion ... and the pending conversion is creating a large technical short in our stock that should be lifted once the conversion is completed," Pandit wrote.
Late last month, the bank unveiled a plan with the U.S. government and select institutional holders to convert some of its preferred shares into common stock, boosting the government's direct ownership in what was once the largest U.S. bank to 36%.

Citigroup shares surge more than 25%, guiding battered financials higher after CEO Vikram Pandit says the firm was profitable during the first two months of the year. Bank of America, J.P. Morgan & Chase also gain.The preferred exchange is expected to make Citigroup the strongest-capitalized large U.S. bank as measured by tangible common equity and Tier 1 ratios, Pandit added.

"In January and February alone, our revenues excluding externally disclosed marks, were $19 billion. During 2008, our full quarterly average for these revenues as adjusted was $21 billion," Pandit said in the memo, which was also filed with the Securities and Exchange Commission

Link

So I'm guessing some of it is the bailout money. But also notice that in 2 months their revenues are averaging $9.5 Billion a month in 2009, where as in 2008 it averaged $7 Billion a month.

So yes their business is doing better.

 

[Epsilon-delta]

The stem cell stocks today (STEM, GERN, ACTC, etc) is a classic example of a pump & dump. "Buy on the rumor sell on the news."

 

[mckmas8808]

Damn...called it again. JPM up 20% so far. Give credit were credit is due guys.

What was your point about that "one" guy?

 

[Justin Bailey]

You mean 8 Billion for the whole 1st quarter?

Yeah, to clarify, it's an $8.3 billion operating profit projection for 1Q.

http://finance.yahoo.com/news/Pandit-Citi-operating-at-apf-14594108.html

 

[Ovid]

The stem cell stocks today (STEM, GERN, ACTC, etc) is a classic example of a pump & dump. "Buy on the rumor sell on the news."

The only reason to buy into the stem cell sector right now is for investment into the future growth of the industry. That would mean you would have to take a long position. I would wait until the stock prices drop a bit lower (I will) until purchasing more shares.

 

[Ovid]

What was your point about that "one" guy?

Sorry, quoted the wrong post.

It should have been this one:

I do not recommend financial stocks but I just wanted to let you guys know that JPM is oversold. The stock price should see a bit of a bump this week.

 

[Ovid]

So is reinstating the uptick rule a good thing or a bad thing? I don't short stocks so I don't know.

 

[zou]

So I'm guessing some of it is the bailout money. But also notice that in 2 months their revenues are averaging $9.5 Billion a month in 2009, where as in 2008 it averaged $7 Billion a month.

So yes their business is doing better.

You two are mixing things. First part of the quote is about their capital/valuation, while the second part talks about their profit/revenue.

I don't get how you could even think it has anything to do with the loan, not like there's one position that says $35,000,000,000 "uncle sam lol kthxbye".

 

[mckmas8808]

You two are mixing things. First part of the quote is about their capital/valuation, while the second part talks about their profit/revenue.

I don't get how you could even think it has anything to do with the loan, not like there's one position that says $35,000,000,000 "uncle sam lol kthxbye".

I know it's not talking about the gov't loan. That's what I was saying.

 

[zou]

I know it's not talking about the gov't loan. That's what I was saying.

Ah, took "So I'm guessing some of it is the bailout money." as "part of the profit/revenue".

 

[mckmas8808]

Ah, took "So I'm guessing some of it is the bailout money." as "part of the profit/revenue".

Oh there I was talking about reasons why the stock could be going up. I was thinking about something else while typing.

I think Citi is an even better buy when reading that once the preferred -> common stock conversion goes through the stock worth will jump almost 200% over night.

To me that seems like something anybody should jump on.

 

[Epsilon-delta]

So is reinstating the uptick rule a good thing or a bad thing? I don't short stocks so I don't know.

A good thing if you took long positions in stocks. The uptick rule was established 5 years after the 1929 stock crash. You can short a stock only if the last sale price was higher than the previous price.

When the SEC eliminated the rule in 2007, IMO, it increased the volatility of the market we see today.

As of now you can short a stock at any price. A stock that was trading in the 20s, 30s, 40s, etc. can be shorted to death and be trading for pennies on the pink sheets.

 

[Tarazet]

Anyone who bought into the VNQ REIT like I suggested is pretty damn happy today.. I'm glad I had the stomach to ride the bear, because almost everything I own is back to even from 30% down.

 

[Epsilon-delta]

Anyone who bought into the VNQ REIT like I suggested is pretty damn happy today.. I'm glad I had the stomach to ride the bear, because almost everything I own is back to even from 30% down.

Glad to hear that.

 

[mckmas8808]

A good thing if you took long positions in stocks. The uptick rule was established 5 years after the 1929 stock crash. You can short a stock only if the last sale price was higher than the previous price.

When the SEC eliminated the rule in 2007, IMO, it increased the volatility of the market we see today.

As of now you can short a stock at any price. A stock that was trading in the 20s, 30s, 40s, etc. can be shorted to death and be trading for pennies on the pink sheets.

Yep I'm not saying that the uptick rule kill Wall Street, but it's removal was near the time when the stock market fell.

 

[Gallbaro]

So anyone here has any idea how corporations would account for emissions.

http://www.treehugger.com/files/200...ationwide-greenhouse-gas-reporting-system.php

In a promising new development, the EPA has announced for the first time that intends create a comprehensive, national system for reporting CO2 emissions. The system will require around 13,000 facilities, or 85-90% of all the places generating greenhouse gases, to report their emissions—and would be a huge step towards realizing the agency's goal of regulating carbon dioxide emissions.

The proposed system, which is slated to have the first annual emission reports due by 2011, would mark great progress in effectively assessing industry generated emissions. Ideally, it could provide an important roadmap for moving towards better CO2 regulation, and will be absolutely necessary if and when Obama's Cap and Trade plans come to fruition. Basically, it shows that the EPA means business.

But how will it work?

So what would benefit from this?

 

[Ether_Snake]

So anyone here has any idea how corporations would account for emissions.

http://www.treehugger.com/files/200...ationwide-greenhouse-gas-reporting-system.php



So what would benefit from this?

What would benefit, in the long run, would be alternate energy (solar, wind, geothermal, etc.).

Damn...called it again. JPM up 20% so far. Give credit were credit is due guys.

Oh come on, everything was up today, even Take2 was up 14% before their earnings, AIG was up 20%, etc. A lot of stuff is falling in AH. ERTS lost all of today's gains in AH trading. THQI too

Exactly, the fundamentals of the economy are very solid and that is all that matters.

The fundamentals are not solid at all, they have deteriorated, and nothing has been done to strengthen them longer-term.

Also, this was in today's news:

U.S. Weighs Further Steps for Citi

Barely a week after the third rescue of Citigroup Inc., U.S. officials are examining what fresh steps they might need to take to stabilize the bank if its problems mount, according to people familiar with the matter.

[...]

One possible future step could involve creating a "bad bank" to take distressed assets off the balance sheet of Citigroup or other troubled financial institutions. Differing approaches are still being considered. Treasury officials already are developing a public-private partnership to tackle that problem more broadly, and the two concepts could either run parallel or be merged.

And all of a sudden Citi is doing great?

Yeah right.

And if this is the rally I have been expected, I'm now going to expect the second part of this recession.

 

[Ovid]

What would benefit, in the long run, would be alternate energy (solar, wind, geothermal, etc.).



Oh come on, everything was up today, even Take2 was up 14% before their earnings, AIG was up 20%, etc. A lot of stuff is falling in AH. ERTS lost all of today's gains in AH trading. THQI too



The fundamentals are not solid at all, they have deteriorated, and nothing has been done to strengthen them longer-term.

Also, this was in today's news:

U.S. Weighs Further Steps for Citi



And all of a sudden Citi is doing great?

Yeah right.

And if this is the rally I have been expected, I'm now going to expect the second part of this recession.

Dude, I called JPM stock rising this week on Sunday night. I'm just trying to help u guys make money that's all. I could stop giving my opinion on stock picks if you want me too (even though I have yet to make a wrong prediction in 2009).