June Stock Talk IV

 Hey CC

 Look on the bright side of things. Booze is in plentiful supply, so is the cash crop of whacky weed, and the FHA is still financing no down payment loans.So all is well in the world, and if you don't agree, there is change you can believe in coming your way, if you were born yesterday...

 Yup cashed on all faves...wish I had taken the dog against Davydenko, as playing on clay (as he did) before the tourney is hardly a sign of wanting to be in London.

 Like you, I see no value out there today, been looking pretty hard, but nothing readily comes to mind on either men's or women's side...

Hang in there...

 PS

  I like the inverse funds (as you know) especially SKF and I also am long DOG and also DXD. (@60 and 48 respectively). Sell in May and go away baby.Although I did buy more DRYS yesterday...

  They can try to gin up some BS rally, but to me there are far too many negatives in play to have it really do much for the overall market.

Any rally will be a bear market rally, which can be pretty sharp, but are like thunderstorms, violent but short lived.
 
  Far too many re-sets yet to come, home values will continue to fall, and employment is not heading anywhere but south.

 Saudis may pretend to be able to raise production, but won't, and Paulson will talk about the need for a strong dollar, but the dollar is rightly weak and will remain so.Or so I see it. Who knows.I took profits, cashed out for the most part, and am happy to be mainly on the sidelines, with bearish bets in the black, SKF remaining a money ride.

  Presidential candidates are both fools, so of course anyone expecting solutions from DC is delusional in the extreme.Or else, like Al Gore, already positioned to profit from mandated pseudo "green" policies.

Grinder,

IMB sure is on a death march..every single day they sell it 5-10%

The chart is telling me BK, but I guess I ride it down and take my hit now that I waited this long.

CRDC has been slumping the last few days too..on low volume but the lack of follow through was expected and a pisser.  

Multi reverses..all over the place after the announcement.

Up 20, up 110, up 40.

Summer trading is fantastic.

Grinder,

They have been KICKING the Vegas stocks..did the same thing after 9/11.

Long term chart breaking down, I see strong support in the 25's, but longer term you dont sell the stock if you have already crossed the sell stop area and let it go further.

LCC, I like the odds on that one..they are a huge carrier but could go back into BK and return like Delta did recently.

I have my DRYS Sept options and Jan 10 options. They are not pricing any bit of the OR portion of business..man is that going to be an awesome spinoff, the sucker is going to generate some serious stable cash flow for years.

The price action and chart are telling me about IMB even though I dont believe it. They have an S&L business, loan servicing and reverse mortgage businesses,  but the market is talking and I guess I will go down like you.

Grinder,

And as expected they break the buck. Hedgies and pennies are taking this one down..huge sellers on every cent down, positively not retail sellers or fund sellers.

Is IMB worthless yet? 

if you guys need to own a financial, get HCBK

ceo is a rockstar

and they only lend money to people who dont need it..no subprime, no alt-a, no bullshit

The market sure is pricing it so.

I will keep scratching my head and let the market ride it down.

When you see a NYSE stock trade on 4 decimal points below the buck, you know it isnt retail trading..the penny boys are trying to tear it apart.

I have lost more on better stocks than this..i am going to ride it out.

Koaj,

Where is the upside on that stock? The divi is pathetic for a bank stock. If I want safe in the market I will buy a CD or a muni bond.

I dont see anything exciting with that stock.

If I want safe in a bank stock I would go with PNC who has very little exposure and has double the divi that your bank has.

Hmmmm,

 I see nothing that has materially changed in the week that represents good news.In fact, if anything, while the market may be a leading indicator, in general, I think this market is just now really getting the idea that plenty of average Americans have known for quite some time:this economy is in deep trouble. It will remain so.