I don't even know how to approach a description of the day.
S&P 500 high of 1097 and low of 1007? Dick Fuld haunted until his grave by the prospect that a conspiracy prevented the bailout of his beloved Lehman? Goldman conspiracies repeated on the record for a Congressional hearing? The mysterious appearance of Michael Corleone's attorney behind Fuld's table? (Notice, Fuld refused to take the 5th, or to have an attorney by his side at the table though). The lock-in negotiations that have been budding between Citi and Wells for the carcass of Wachovia? Ackman snatching up a big hunk of the carrion and flying away? Merrill Lynch revising down crude oil predictions to... $50 per barrel? The largest CDS settlement auction... ever?
Posted by guest , Oct 06, 2008 4:37PM
EP - laughing out loud at the tags.
~J
Posted by guest , Oct 06, 2008 4:40PM
Hey, how did that CDS settlement go, anyway? Anybody take the Window Express back to ground level?
Posted by guest , Oct 06, 2008 4:41PM
Banco Santander can buy California now !
Posted by guest , Oct 06, 2008 4:43PM
@2, for a few hours that route did look attractive. However, a quick visit to the mistress' walkup at lunchtime quickly cured that. However, the fucking gaping hole in my porfolio is going to be hard to recover from.
Posted by guest , Oct 06, 2008 4:44PM
didn't somebody here short the VIX last week? oops!
Posted by peWonderWoman , Oct 06, 2008 4:48PM
Now let's all do the chicken dance!
Posted by miami , Oct 06, 2008 4:50PM
1342 new lows and one new high?
Posted by AJ , Oct 06, 2008 4:52PM
Penguin Dance! http://www.youtube.com/watch?v=eWra_jytNMQ
Posted by peWonderWoman , Oct 06, 2008 4:54PM
AJ-
Penguins are cute, but I don't believe I have that kind of coordination. How about you Penguin dance and I chicken dance
Posted by FUNdamental , Oct 06, 2008 4:58PM
aj/pe - maybe we can find some common ground.... And all agree that - it's Peanut butter jelly time!!!!
Posted by guest , Oct 06, 2008 5:00PM
I have little faith in any security or brokerage or anything.
I have my money stashed the only place it's safe,
FIRST BANK OF SERTA, BITCHES!
-comfortablysmug
Posted by guest , Oct 06, 2008 5:01PM
@ EP report by Merrill said $90 with a low spike to $50.
In addition, part of their thesis is based on an assumption that OPEC (mostly from saudi, qatar and UAE) is going to be able to add 3 million b/d of incremental(mostly light sweet crude)supply over the next 12 months. Saudi has been trying to add 1 million b/d for 4 years (and that is heavy sour oil). They finally will get to add 500,000 b/d from a new field they are bringing on line,Khursaniyah field.
There is no indication as to where UAE and Qatar are getting their additional production is coming from.
That said I'II have a triple.
Posted by peWonderWoman , Oct 06, 2008 5:05PM
FUNdamental, how could I deny PBJ time!?
Chickens, Penguin's, PBJ- this just might be the best day EVER!
Posted by blndebnker , Oct 06, 2008 5:09PM
I honestly do the PBJ dance with my nephew. Cracks him the fuck up. Let's do it.
Posted by FUNdamental , Oct 06, 2008 5:19PM
blnde/pe - love the enthusiasm. Time to go to a kareoke bar and bust it out! Haha.
Posted by guest , Oct 06, 2008 5:21PM
No way - Surfer Bird in full effect.
Posted by guest , Oct 06, 2008 5:24PM
Why did the final price for the fannie and freddie CDS settlement come in higher for sub than senior?
Posted by guest , Oct 06, 2008 5:38PM
Come To Jesus bitches.
SPODE
Posted by guest , Oct 06, 2008 5:43PM
ackman's a pretty charismatic guy, i saw him on cnbc today being interviewed by that hottie
Posted by guest , Oct 06, 2008 5:46PM
the sub bonds were trading higher then the senior
Posted by guest , Oct 06, 2008 5:48PM
Now is not a good time SPODE. I have my hands full with the kooks in the South who seem to think they will "rise again." Don't get me wrong I love all my children but even these bible thumpers test my patience.
I probably shouldn't be doing this but I have been receiving a lot of prayers asking for direction.
Tomorrow the DOW will rally 250 point in the morning followed but heavy selling in what will turn into another blood bath and the DOW closing down 300 for the day.
Put more in the basket this Sunday if you want things to turn around.
Baby Jesus
Posted by guest , Oct 06, 2008 5:58PM
21,
ODB? Big Babay J?
Long crack cocaine, short hugs.
Wu-Tang's for the children.
Posted by peWonderWoman , Oct 06, 2008 7:05PM
FUNdamental- if DB had a way to send messages to one another- I would be down.
Posted by guest , Oct 07, 2008 11:31AM
Should we be reading that post like Stewie (from Family Guy)?
--Daniel