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Mikey's Corner 08

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Posted: #126
you think they will get a deal done over weekend ?? I was thinking no one would want to hold LEH over weekend.
 
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Posted: #127
WFC is a joke.  $4 off of its 52 wk highs?????

I'm going to wait until Monday to see what deals get done this weekend and if this POS gaps up, I'm going to get short.

I know you are already in at $29 Mikey, you gonna re-up at these levels?
 
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Posted: #128
I am just flailing away at LEH I expect nothing
 
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Posted: #129
As far as LEH, I just don't see how 25% of the company was allegedly worth 6 billion to KDB last week, but now the whole company is worth under 3 billion.

If someone wanted to take it over and had the cash, they could have been snapping up shares the last two days and just take it that way and not have to pay a premium.

If whoever is interested does not have the cash to just snap up shares, I am worried about them being able to secure enough financing in this market to make a decent bid, even if they want to.

It's a mess, I really wanted to pull the trigger on some calls the last two days but didn't/couldn't and today I am not so sure that I want a piece of it.
 
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Posted: #130
My guess is that the market is bottoming here and the buyout of LEH will let them tell you that we are going to be OK
 
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Posted: #131
Quote Originally Posted by jaxwhitey:

As far as LEH, I just don't see how 25% of the company was allegedly worth 6 billion to KDB last week, but now the whole company is worth under 3 billion.

If someone wanted to take it over and had the cash, they could have been snapping up shares the last two days and just take it that way and not have to pay a premium.

If whoever is interested does not have the cash to just snap up shares, I am worried about them being able to secure enough financing in this market to make a decent bid, even if they want to.

It's a mess, I really wanted to pull the trigger on some calls the last two days but didn't/couldn't and today I am not so sure that I want a piece of it.


I Wonder if they have an equity left in the company ???  How can the company say nothing and do nothing while their stock loses 10 billion in value.

those korean banks could buy enough stock to take it over now if they wanted to. It just shows you how much bullshit they peddle to get their stock value up. if it were really a negotiation wouldnt the koreans be back today with a cashiers check asking for the keys to the doors LOL
 
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Posted: #132
with the dollar going down do you think its time to get back into GOLD?
 
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Posted: #133
I got Jim's number  I  see hes in Cali  I like to do buisness with someone face to face     I will call and see if he comes to NY
 
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Posted: #134
I see a pattern developing where I can see the techs Oils and Material stocks bottoming in here. The financials are show relative strength even though LEH and WM are not. I think LEH and WM is a ruse now to have the traders get short. I think the insiders are buying stock for a rally into the election. So I am not adding to WFC or COF in the near term. If you notices I bought DDM ..double market long UYG double financials long and DIG double oils long. I will sell my QID and the rest of my SMN now.
I want to go long QLD
 
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Posted: #135
Looking to buy GE below 25
 
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Posted: #136
You are not worried about AIG and MER also getting crushed?  The shorts are like a swarm of locusts at this point, going from stock to stock and just killing them.

Why would they not go after COF and WFC who are seemingly in the next wave of weak balance sheets.
 
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Posted: #137
Trust me he will not go anywhere
 
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Posted: #138
I think this is a market low just for now the shit hits the fan next year
 
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Posted: #139
I'm just going to sit out this weekend.  Really wanted to do something since I haven't made any moves for the last few days.  But it's better than watching my account get drained while I get whipped around.

I've been staring at my screen for the last ten minutes with an order for LEH $5 calls and never pulled the trigger.  We'll see how it plays out.
 
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Posted: #140
have a nice weekend    best bet MICH and Penn ST.
 
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Posted: #141
Colts + over in NFL
 
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Posted: #142
well, looks like I got into PMPIX and DGP at the right time. 
 
 
 
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Posted: #143
Quote Originally Posted by jaxwhitey:

You are not worried about AIG and MER also getting crushed?  The shorts are like a swarm of locusts at this point, going from stock to stock and just killing them.

Why would they not go after COF and WFC who are seemingly in the next wave of weak balance sheets.

What do you see as such weakness in the WFC balance sheet?  Seems like the street is rewarding them for having a stronger balance sheet and tighter credit standards.  Their writeoffs have been lower than average and the stock has been one of the better performers along with Bank One.  What am I missing here?  Please explain.

 
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Posted: #144
Quote Originally Posted by P-Unit:

What do you see as such weakness in the WFC balance sheet?  Seems like the street is rewarding them for having a stronger balance sheet and tighter credit standards.  Their writeoffs have been lower than average and the stock has been one of the better performers along with Bank One.  What am I missing here?  Please explain.



Basically it is high exposure in CA and FL with all kinds of loans (mortgages, HELOC's, etc)
As to their write offs, it is easy to look like you have less when you change the rules of the game.  Their delinquent loan definition changed from 120 days late to 180 days late, that is not a good sign for the future.  That is the quick and easy version as to why.

It may very well go up in the immediate future, but I think that if you are long WFC, you are playing with fire.
 
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Posted: #145
And I forgot to mention that there are some rumors that WFC's write off this quarter will be

wait for it.........................

Up to $500 billion dollars

And that is just on FRE/FNM losses, I believe their accounting methods on delinquent loans will revert back to 120 days as well.  So you can add on a good bit in write downs for those delinquent loans as well.
 
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Posted: #146
mikey

 do you think its time to bailout on DIG ?? crudes already down $6 pre-market.
 
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Posted: #147
Quote Originally Posted by jaxwhitey:

And I forgot to mention that there are some rumors that WFC's write off this quarter will be

wait for it.........................

Up to $500 billion dollars

And that is just on FRE/FNM losses, I believe their accounting methods on delinquent loans will revert back to 120 days as well.  So you can add on a good bit in write downs for those delinquent loans as well.


That should say 500 million, not billion
 
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Posted: #148
billion would be
 
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Posted: #149
Holding my DIG stop at 60
 
 
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Posted: #150
I think this is still a trading market bottom.
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