Someone tell Greenspam to STFU and go back into retirement…. this guy is worse than Cramer…. He’s the cause of today’s problems.. why the hell does the US media give him such an easy ride? If he was in the UK he’d be crucified in TV interviews and in the media rather than being lauded… and to think our Queen actually knighted him after Tony Blair recommended him as being “a great contributor to one of the longest sustained periods of economic growth.”

Hah! What a farce.

A pox on both of them (and long live the Queen)!

Greenspam is a fraud, just like Blair, just like Bush. They’re all to blame, and all the cause, of the world’s current financial funk. Scumbags! Send them all to Guantanamo and waterboard them to death :x

[quote author=“pingdave”][quote author=”$Billyall”]regarding WM as Doug Kass pointed out that Hedge fund already had a sgnificant position in WM and have just averaged down. Its not as if they just added a new 6% position at these levels. Would be interesting to know the exact buys, not sure if that is available in their SEC disclosures.

I rarely agree with Kass but it seems a little overreaction to the positive side. I wouldnt short it though….then again I dont have the stomach or the capital to short anything.

They are a hedge fund. No one knows their position size unless it goes over the 5% threshold. Hedge funds don’t have to disclose unless they cross the 5% level.

I looked and the date they reported as the date requiring them to report (moving over 5% ownership of outstanding shares) was when WM dipped down to below $4 in mid July. July 15th to be exact.

They probably added heavily at that point, after their initial buy in probably around $9 or $10.

Of course this is big news, someone made another large long bet on WM. Doug kASS is probably short and underwater, and panicked and got CNBC to air his “oh this is nothing” bit.

Meanwhile, back at the ranch, AAPL is still being used as an ATM for hedge funds, sucking people in over 160, and then crashing it back under.

Normal stocks clear a wedge pattern, like AAPL did, and then move up. AAPL just pops out and ducks back in, creating dread and loathing about owning the stock.
Grinchspan on CNBC is not helping. He needs to STFU and go sit in a rocker somewhere, and let Bernanke do his job, which is cleaning up the mess Grinchspan left him.

If one is to believe Kass, he has been shorting SKF and long financials for several weeks.  He must have really gotten hammered there for a while, when the SKF skyrocketed.  Seabreeze was apparently up 16% at the end of April, but he must be licking some painful wounds from his recent trading.  His top short right now is AAPL, BTW.

[quote author=“Tommo_UK”]Someone tell Greenspam to STFU and go back into retirement…. this guy is worse than Cramer…. He’s the cause of today’s problems.. why the hell does the US media give him such an easy ride? If he was in the UK he’d be crucified in TV interviews and in the media rather than being lauded… and to think our Queen actually knighted him after Tony Blair recommended him as being “a great contributor to one of the longest sustained periods of economic growth.”

Hah! What a farce.

A pox on both of them (and long live the Queen)!

Greenspam is a fraud, just like Blair, just like Bush. They’re all to blame, and all the cause, of the world’s current financial funk. Scumbags! Send them all to Guantanamo and waterboard them to death :x

We’ve contained the pox. Now we curse by saying, “ Eat McDonalds for 30 days .”

OMG, all of the carrying on. The Dow is down almost 200 and we lose a dollar. People, a little perspective here.

Yeah, but RIMM is still up over 3.5 hard to watch.

Fair enough. . .but RIMM is up over $3.   

Edit: I see somebody types a little faster than I do. 

[quote author=“litespeed”]OMG, all of the carrying on. The Dow is down almost 200 and we lose a dollar. People, a little perspective here.

Funny.. I see us almost $4 off the high and red on a day MOT went up 12%, DELL RIMM and SNDK 4%... ...that’s my perspective

I never realised AAPL was a DOW component. Amazing that. 

I’m going to enjoy any short-term rise in RIMM, for whatever WHACKED-OUT reason, because I’m going to make some great money on its way down.  Getting very near its top I believe, and then, it will be a slippery slope into oblivion when Apple does get full enterprise IT support (this won’t happen overnight). 

Patience.  RIMM is a one-trick pony.  In 12-24 months, RIMM will be confused with PALM.

Thanks for the idea…I bought a RIMM put…value increasing as I type…the only thing that makes me happier than a green day for AAPL is making money on a RIMM put.

What may be $1 today could easily turn into $5 or more tomorrow with all the added pessimism Mr Turtle brings with him when he crawls out of his shell.

[quote author=“Mercel”]Patience.  RIMM is a one-trick pony.  In 12-24 months, RIMM will be confused with PALM.

Does that mean you’ll be able to get a RIMM-job then for the same price as a PALM-job now ($6.60?) 

[quote author=“Tommo_UK”][quote author=“litespeed”]OMG, all of the carrying on. The Dow is down almost 200 and we lose a dollar. People, a little perspective here.

Funny.. I see us almost $4 off the high and red on a day MOT went up 12%, DELL RIMM and SNDK 4%... ...that’s my perspective

I never realised AAPL was a DOW component. Amazing that. 

Tommo, I just prefer to see the glass as half full. It could be worse. 

Hat tip to EL for suggesting cash-backed puts on AAPL. Almost better than setting a low bid. This way you get the low price and you get paid for waiting for it—or you take the prem. The problem in my mind is that AAPL can’t seem to get past its 200-day and next leg down on support looks like 153-ish. After that 145? And after that ??? So writing 160s looks risky to me, and even the 155s are questionable since a retest of 153 can’t be ruled out. It’s still very tempting, and depending on AAPLs progress next week I might move on it.

FWIW, option pain is looking like 155 but still plenty of time for that to move. The traders have succeeded in baffling me completely.

Lastly, for anyone who’s interested, SKF simply won’t stay under 120 for any period of time.

NYX bounced off of $46.88 and it now bucking the rest of the market heading up. Heavy trading in the top five banks.

RIMM’s given back plenty from it’s HOD. WTF cares about MOT & DELL? We all knew this sell-off was going to happen today. NFP setup. Who the hell wants to be leveraged up going into that thing tomorrow when we could so easily retest the mid-July lows. Start of a new month tomorrow as well. Bookin profits.

[quote author=“Tommo_UK”][quote author=“Mercel”]Patience.  RIMM is a one-trick pony.  In 12-24 months, RIMM will be confused with PALM.

Does that mean you’ll be able to get a RIMM-job then for the same price as a PALM-job now ($6.60?) 

LOL

You really need to be a stand up comedian.

By the way the sponge did something crazy this morning.  I dumped all my aapl shares and cashed in $1K profit.

I figure I am not going in all the way at the moment, but I might as well make a little money.  Got lucky, since we are now red. :o

[quote author=“Eric Landstrom”]NYX bounced off of $46.88 and it now bucking the rest of the market heading up. Heavy trading in the top five banks.

Yeah, they’re reporting before the bell tomorrow. Fingers & toes crossed. NYX causing me much IRA anguish.