Cramer declaring the market has bottomed is so Tuesday. Last night Cramer was in a cheerful, skippy mood because the market had rallied two days in a row.
Cue Jimi Hendrix. Manic … depression … is a frus-tra-ting mess!
Will someone explain to me how could the market have bottomed as long as the SEC has protected certain financial companies from short sellers (and not just naked short sellers. Anecdotal evidence suggests that some Banks are not executing ANY short trades on the “protected few”)
Moreover, how about the continued presence of the discount window (now open until Jan 2009 – merry christmas?).
As long as these “special protections” exisit there can be no REAL bottom.
18 is correct, I don’t think we’ve seen the capitulation trade just yet, and you won’t as long as big brother (US Gov’t) is protecting his little brothers (banks, fannie and freddie) from the bullies (aka short sellers). Whatever, I say go on vacation this month a la ALL OF F’ING EUROPE (who seem to be all over the city).
WaMu didn’t sell 6% to UK hedge fund. The UK hedgefund bot that stock in the open market averaging down on a position that Toscafund started on when WaMu was $40. Yes they spent $500 million averaging down, but they did so in the open market and WaMu got NOTHING.
Toscafunds performance this year is about -35% to -40%.
WaMu CANNOT rally issue stock due to the ratchet clause contained in their $8.50 financing.
WaMu didn’t sell 6% to UK hedge fund. The UK hedgefund bot that stock in the open market averaging down on a position that Toscafund started on when WaMu was $40. Yes they spent $500 million averaging down, but they did so in the open market and WaMu got NOTHING.
Toscafunds performance this year is about -35% to -40%.
WaMu CANNOT rally issue stock due to the ratchet clause contained in their $8.50 financing.
@ 16
I know the WM is old news already, but when a stock pops 20% (for any reason) there will ALWAYS be people looking to short it, buy puts, etc. Why the confusion?
Was I the only one watching about 7 months ago when that clown declared the so-called sub prime problem wasn’t a problem at all and was limited to a couple of guys at a corner desk made a bad bet on a few mortgages.
Could anyone have been further removed from reality.
More Cool Aid please
hi #11,
gm bonds (senior stuff) appear to me to be a screaming buy here.
49 cents on dollar yields you like 17%.
so you either double your money every 4 years
or
you’re buying a cheap warrant/option on a restructuring IPO.
obama already tipped his hand that GM will get bailed out the gubment.
so there’s your insurance.
being a bondholder gives you like superhero powers.
you can petition for a liquidation of assets.
which is why they always wind up “bribing” the bondholders with lots of extra equity.
which you promptly sell of course.
you get some nice legal tax benefits here as well.
All the rules coming down the PIPE(CRACK) from the SEC, FED, TSY are all meant to do one thing only…BUY OR DIE BITCHES…Prop this motha up for one last blowoffthemothafuckingtop…LOL.
Cramer appeared a little embarassed tonight, but gamely declared that he wasn’t going to let a 200+ drop in the Dow deter him from thinking the bottom had been reached.
SELL!
Setting your money on fire is more fun than following Cramer’s advice.
also more profitable
You’re so right. Why don’t you have a show on CNBC?
you idiots, the market bottomed months ago. whats going on right now is just tremors.
drill, drill, drill!
buy my book buy my book- i hate that guy
BUY FINANCIALS!!!
BUY FINANCIALS!!!
one more time
Put all your money in GM. It can only go up.
Put all your money in GM. It can only go up now.
GM is AMC ver.2008
WTF WaMu up 20%
Cramer declaring the market has bottomed is so Tuesday. Last night Cramer was in a cheerful, skippy mood because the market had rallied two days in a row.
Cue Jimi Hendrix. Manic … depression … is a frus-tra-ting mess!
wamu sold 6% to UK hedge fund
the funny part is the Oct 4 puts trading up on the news
@chad
http://ca.finance.yahoo.com/q/bc?s=%5EBKX&t=1y&l=on&z=m&q=l&c=
months ago?
Will someone explain to me how could the market have bottomed as long as the SEC has protected certain financial companies from short sellers (and not just naked short sellers. Anecdotal evidence suggests that some Banks are not executing ANY short trades on the “protected few”)
Moreover, how about the continued presence of the discount window (now open until Jan 2009 – merry christmas?).
As long as these “special protections” exisit there can be no REAL bottom.
18 is correct, I don’t think we’ve seen the capitulation trade just yet, and you won’t as long as big brother (US Gov’t) is protecting his little brothers (banks, fannie and freddie) from the bullies (aka short sellers). Whatever, I say go on vacation this month a la ALL OF F’ING EUROPE (who seem to be all over the city).
WaMu didn’t sell 6% to UK hedge fund. The UK hedgefund bot that stock in the open market averaging down on a position that Toscafund started on when WaMu was $40. Yes they spent $500 million averaging down, but they did so in the open market and WaMu got NOTHING.
Toscafunds performance this year is about -35% to -40%.
WaMu CANNOT rally issue stock due to the ratchet clause contained in their $8.50 financing.
WaMu didn’t sell 6% to UK hedge fund. The UK hedgefund bot that stock in the open market averaging down on a position that Toscafund started on when WaMu was $40. Yes they spent $500 million averaging down, but they did so in the open market and WaMu got NOTHING.
Toscafunds performance this year is about -35% to -40%.
WaMu CANNOT rally issue stock due to the ratchet clause contained in their $8.50 financing.
@ 16
I know the WM is old news already, but when a stock pops 20% (for any reason) there will ALWAYS be people looking to short it, buy puts, etc. Why the confusion?
Is it too late to get Jimbo convicted for a crime he didn’t commit so he can get sodomized in prison?
Was I the only one watching about 7 months ago when that clown declared the so-called sub prime problem wasn’t a problem at all and was limited to a couple of guys at a corner desk made a bad bet on a few mortgages.
Could anyone have been further removed from reality.
More Cool Aid please
Cramers blog title on his site is “Yeah, So? It’s Some Profit-Taking”. That tells you all you need to know.
hi #11,
gm bonds (senior stuff) appear to me to be a screaming buy here.
49 cents on dollar yields you like 17%.
so you either double your money every 4 years
or
you’re buying a cheap warrant/option on a restructuring IPO.
obama already tipped his hand that GM will get bailed out the gubment.
so there’s your insurance.
being a bondholder gives you like superhero powers.
you can petition for a liquidation of assets.
which is why they always wind up “bribing” the bondholders with lots of extra equity.
which you promptly sell of course.
you get some nice legal tax benefits here as well.
Gotta love senior secured debt.
All the rules coming down the PIPE(CRACK) from the SEC, FED, TSY are all meant to do one thing only…BUY OR DIE BITCHES…Prop this motha up for one last blowoffthemothafuckingtop…LOL.
Perhaps there should be an ETF that is contra to whatever Cramer says.
puff puff give…. PUFF PUFF GIVE!!! You f*ckin up the rotation….
There are more false bottoms to this market than in a shoplifter’s bag collection.
Cramer appeared a little embarassed tonight, but gamely declared that he wasn’t going to let a 200+ drop in the Dow deter him from thinking the bottom had been reached.
@33
Isn’t tha is counter to what a “bottom”