Is JOE worth buying ???

Those that bought yesterday shall be rewarded today

Those that bought yesterday shall be rewarded today

currently up 14% from yesterday's low. Not bad if you sell it now.

Goofer, looks like the banks are loving the Fed's decision to cut the discount rate.

SHELLY

Where are you ? You are not keeping me up on my portfolio. Can you tell me the prices of Bank of America, Citicorp, Wachovia , AIG International, Chevron, Exxon, Conoco Phillips, Pepsi, Coke, Altria, Proctor and Gamble, MMM, Caterpillar ??? Where are you when I need you. Are you crying in your tequilla on your cold linoleum floor ???? I am not gloating, even though it may seem that way. I apologize to all if if I offend. My point is sometimes it does pay to buy straw hats in the winter. Buy low, sell high. The stock market is a TOTALLY DIFFERENT beast than the real estate market. It is a game of psychology and KNOWING the underlying factors effecting prices. The last 10 days was all about hedge funds and private equity forced to sell stocks at any price to raise margin. This was a Wall St phenomenon and not a Main St issue. Exactly like 1987. My crystal ball is always cloudy so I can't tell you what will happen next week or next month BUT I have extreme confidence in the future.

Goofer, I thought you knew. Shelly is standing naked in front of the new airport in PCB, waiting to get his photo taken. He hasn't had time to keep up with your holdings. :funn:

Congrats Goofer... this morning, I used the over-exuberance and SHORT COVERING to sell my recently purchased IMH, recently purchased NLY and recently purchased JOE, because I am convinced that this discount window lowering is going to become a liability over the weekend.....if we go negative this afternoon, these three stocks, especially JOE and IMH will reverse and go negative (NLY probably not so much)... but I'll possibly be -re-buying this afternoon.

P.S. I've been with you on the bank idea... been buying BBT (BB&T) over the last 3 weeks, akin to your C and BAC calls...

one play I like today, FirstFed Financial (FED) put options... i think there is a good chance that the Sept. 55 Puts, could spike in price this afternoon, from current 7>70/8.10 level.. just a flier

this is fun..

Goofer, I thought you knew. Shelly is standing naked in front of the new airport in PCB, waiting to get his photo taken. He hasn't had time to keep up with your holdings. :funn:

or playing "squash" with Bernanke.

Down over 2% from yesterday's close now. Still up from yesterday's low.

I too am taking some money off the table, especially in financials. On days like we have experienced with high volatility, I sell in the money calls to capture some decent premium.

Congratulations to you too, Robert. No one ever went broke taking a profit. We will have plenty of volatile days ahead. Time to be nimble and trade around positions.

absolutely... this is so fun....

trimming a wee bit of BBT in here... but am comfortable with it for the long run, as well as my position in RJF (RayJay) that I keep adding whenever it gets very close to $30 which it has several times recently...

i sold some october out of the money calls against my positions on CFC

as I alluded to earlier, I put on a new positon in FEDUK (put option on FED).. i think it might work large....

really having a lot of fun...

good to know there is money being made out there, aside from pissing and moaning about real estate .

cheers,

any thoughts this afternoon Goofer??

i really got lucky getting long some financial crap yesterday, and got a total undeserved gift this morning from Bernanke... its actually kinda scary that the FED is so nervous that they had to do that, before index options expiry.... wonder what they see that they're so fearful.

SHELLY

Where are you ? You are not keeping me up on my portfolio. Can you tell me the prices of Bank of America, Citicorp, Wachovia , AIG International, Chevron, Exxon, Conoco Phillips, Pepsi, Coke, Altria, Proctor and Gamble, MMM, Caterpillar ??? Where are you when I need you. Are you crying in your tequilla on your cold linoleum floor ???? I am not gloating, even though it may seem that way. I apologize to all if if I offend. My point is sometimes it does pay to buy straw hats in the winter. Buy low, sell high. The stock market is a TOTALLY DIFFERENT beast than the real estate market. It is a game of psychology and KNOWING the underlying factors effecting prices. The last 10 days was all about hedge funds and private equity forced to sell stocks at any price to raise margin. This was a Wall St phenomenon and not a Main St issue. Exactly like 1987. My crystal ball is always cloudy so I can't tell you what will happen next week or next month BUT I have extreme confidence in the future.

Goofer,

A bit surprised by your post....I thought you had a bit more class than this...but I digress.

The market of the past couple of days is a result of Ben throwing more liquid fuel on the fire. I'm not a day-trader, nor a flipper, so I neither live for the euphoric highs nor die by the crushing lows of market volatility.

The toxic loans and the expanding credit bubble are still out there in the economy--nothing that Ben and company can do will make it go away, he's just slapping more lipstick on this pig (which is looking quite attractive to those who have been partying like it's 1999.)

True, there are some very good buys since the hedgies got wedgies and are dumping the good stuff, but I'm not convinced that magically everything is OK and we can crank up the building cranes and throw open the door for more pre-sale condos, building lots and subdivisions (which, by the way, is...or was...Florida's economic engine for the past couple of years).

The US consumers' ability to secure and pay their debts going forward is key.

BTW...Did you sell your NY property yet?


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SHELLY

First you monitor my JOE position and ask me on the public message board "what is my next" move with dripping sarcasm........then you ask whether I have sold my NY property. Why are you obssessed with my financial activities ?? I have a dialogue with others on the message board and all you do is be a wisea**. Get a life and get off that fence you sit on watching the world pass you by. Try participating and pontificating less. You may think you know it all, my dear lady, but you may be missing out especially hiding behind your veil of secrecy. Why not come out ? The water is fine.

SHELLY

.......then you ask whether I have sold my NY property.

I agree, that was a cheap shot...Apologies.


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thank you for that.

thank you for that.

You guys better kiss and make up!! I learn alot from both of you and would be saddened to not read your informative posts!!

I am with Chickpea -
Truth be told, you guys (Goofer, Shelly) and Smiling Joe are my favs! Kurt, your stuff is always beautiful and informative, of course... but these three just fill my mind with excellent "ponder-fodder". I am glad you participate and share yourselves by sharing your thoughts and hope that I get to meet you all one of these days. I think that each of you brings spice and life to this forum and it would not be the same without you. Shelly's apology and Goofer's acknowlegment show you both to be class-acts and that is a wonderful thing in this day and age!!! May you all have a peaceful day and a week of abundant living.

Of course I accepted Shelly's apology. I apologize to her if I was a bit of a wiseguy myself. Sometimes we all get carried away because of our passions.
i look forward to more spirited debates on this message board. It is a wonderful way to learn and expand. I value Shelly's input greatly. In the final analysis, if we all thought alike, it would be a very boring world

You guys better kiss and make up!! I learn alot from both of you and would be saddened to not read your informative posts!!

Pish-posh...I would never have a battle of wits with an unarmed man--which is why I enjoy verbal volleys with Goofer and the like.

I don't hold grudges...as a matter of fact, I've reserved him a seat in my bomb shelter and a tinfoil hat (the straw hat won't help) when Economic Armageddon strikes Florida.

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Pish-posh...I would never have a battle of wits with an unarmed man--which is why I enjoy verbal volleys with Goofer and the like.

I don't hold grudges...as a matter of fact, I've reserved him a seat in my bomb shelter and a tinfoil hat (the straw hat won't help) when Economic Armageddon strikes Florida.

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I hope you are a woman!! I know quite a few men with as sharp a wit as you but less women - and your little reference to a battle of wits with an unarmed man leads me to believe that perhaps you are a gull!!

Anyways - keep at it - I enjoy your posts tremendously (even when I do not agree!)

Shelly , got caught with that one too on my last post. Well Shelly are you a man or women? I mean no harm. Just don't want to address you improperly.

I disagree with you most of the time but enjoy your comment and total respect your right to your opinion. Wether man or woman? Yes I am a man, if I'm not lying.

Back in today for a handful of shares, and...... in the red already !!! totally got lucky with that last trade due to fed bail out.. this JOE looks like it wants to go lower materially...

Back in today for a handful of shares, and...... in the red already !!! totally got lucky with that last trade due to fed bail out.. this JOE looks like it wants to go lower materially...

Pete Rummel got lucky too...unloaded 36,900+ @ $34.25 on Aug 21. Probably needed some pocket change to get the kids school supplies and milk money.

http://joe.client.shareholder.com/EdgarDetail.cfm?CIK=745308&FID=1209191-07-49568&SID=07-00

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Waoh! 2.1M volume today -- nice payday for the shorts?


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I am reminded of a certain CEO named Lorenzo that took over Eastern Airlines and sold all the easily liquidated assets, i.e. aircraft, made a fortune, then drove the company into the scrap heap of formerly great American companies.
If you chart the past six month's stock price of JOE it is hard to contemplate that anyone, much less the vaulted leader of the company, would want to see any shares being sold that would register as insider trading.
I believe JOE is still a great company. Unfortunately, it is being led by a bunch of idiots who are only out to line their own pockets. If you own stock in this company you really need to speak up in regards to a change of guard in management.
My .02 cents worth and a blanket will get you a good day at the beach