September Stock Talk II

The VIX is up to 33, very nervous out there today.

Anyone have any guesses as to what is going to change the downward momentum here in the short term?

AIG bailout didn't stem the tide like FRE/FNM did temporarily last week.

I keep expecting to hear another limit on shorting financials or maybe even a change to the mark to market rules but nothing so far.

 My fellow  AIG shareholders....when can we expect a dividend check? Many thanks...

 I see we are now at 2 bux a share...may we all live long and prosper!!

Oops, new short selling rules take effect tomorrow and apparently are market wide, not just financials this time.  Technically not new rules, just more stringent enforcement of the existing rules.

Link

The US Treasury said it will sell bills to allow the Federal Reserve to expand its balance sheet, a day after the government agreed to take over American International Group Inc. `

 In a related note, these bills will be printed with disappearing ink...

i have a friend/ex colleague who trades CDS for a large firm in nyc

just got this email from him

"If you have money in the market I would suggest getting it out......we may crash on Mon. or Tues of next week!"

be very careful guys...im about an hour away from calling my broker and going all cash except for my commodities

Hmmm, I was looking to go long.  (Not sarcasm)

So any background reasoning behind this email and why he would say that?

Is GE going to hit the pipe?

If a big name like GE gets smacked then yeah we sell off 1k for sure. MS down 25%, maybe they are what he is talking about.

jax - i know traders, pms, analysts...all equity guys

the bond and debt guys are MUCH MUCH smarter

Can somebody please tell me how to block my screen from showing the value of GS puts, I am sick (again no sarcasm) seeing how far they have run since I sold Monday.

MS hit 16 today, holy cow I guess they are the next in the fire.

Then does it spread to GE or who?

 KOAJ

 Is it the prospect of money market busts really speeding up the process?

 Man GS down 25% as of right now...

 Good old SKF though rocking along, as has been its wont.

wall - my best guess is that morgan goes this weekend. CDS through the roof, option expiration friday...they need to be bought out or merge ASAP to shore up their balance sheet and comfort the market

vermeer - gs will survive i think. level 3 assets are very low

fwiw - i have the worst timing in the world

you could retire if you bought what i sold over the years

I find it humorous that people blame this on the credit markets..it isnt the credit or debt markets it is these nasty assets.

People saying that Cramer was right and the FED should have lowered, that wouldnt do a damn thing.

Smells like -500 today fellas...

K

 Was not suggesting GS would dive, just noting the brutal loss they were experiencing today.

 I gotta think there is also a realization that there is a limit even to the Fed's reserves.People think that there is not, but they are really really pushing things at this point?

 Man gold is a panic play today, I have GLD but I am liking the actual coins better every day...sheesh...

Gunners,

I dont blame you, being long this market is a scary proposition no doubt.

Someone sold about 12k in CRDC earlier and it killed it but bounced back.

I gotta think GE is in trouble here..I bet they have TONS of this crap on their books..

 

Glad I only nibbled at GE.  This is getting scary.

 

I have to say that after looking around, why hasnt C been taken down to single digits?

They are LOADED with this nasty stuff and have been holding out their hand for months for money.

Maybe since they have some BIG foreign investors, they will not be put under the microscope.

 Was that not what CC has said for months? Or do I confuse.??

 We may see it as panic is running amok...

Vermeer,

CC was talking bunkers and invasion..lets hope that doesnt happen.

I thoiught with the but-out of lehmans and bailout of AIg the market would rally today and continue. today doesnt make any sense to me at all.

  Well CC does exaggerate at times hehe

 However, I am watching the cartoonish Barny Frank explain reality to CNBC, and such blithering idiocy makes me happy I do have a basement and a few firearms...no canned goods alas...

Rally time

rumor of a 50bp cut intraday

unfounded of course

WLD - bailouts dont help b/c there's 100 other firms who will have their hands out. the fed then plays daddy and decides which one of his kids gets ice cream

traders of equities, options, and debt swaps are playing chicken with the fed...they will continue to short the mkt until there's some semblance of certainty in the mkt

we arent close yet