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robertsondavies

Beach Fanatic
Apr 16, 2006
500
28
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..
 

Mango

SoWal Insider
Apr 7, 2006
9,709
1,360
New York/ Santa Rosa Beach
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:

:lolabove: or playing "squash" with Bernanke.
 

6thGen

Beach Fanatic
Aug 22, 2005
1,491
152
Down over 2% from yesterday's close now. Still up from yesterday's low.
 

goofer

Beach Fanatic
Feb 21, 2005
1,165
191
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.
 

goofer

Beach Fanatic
Feb 21, 2005
1,165
191
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.
 

robertsondavies

Beach Fanatic
Apr 16, 2006
500
28
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

SoWal Insider
Jun 13, 2005
5,770
802
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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goofer

Beach Fanatic
Feb 21, 2005
1,165
191
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. :dunno: 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.
 
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