|
The Stock Room page 84
|
|
(Continued from page 83) Be afraid! Be very afraid! Side note: And even after the AIG bailout and hype, they’re still tanking the market anyway. To quote someone: “They know nothing! Nothing!” _______________________________________ apppro’s take for 09/16/2008 @7:30 pm EST: Hey Cramer, you’re not Columbus here and you didn’t discover America. I’ve been screaming about this Up-tick thingy, among other things, for over a year now, just see my 7/29/07 blog. Here’s Cramer’s take where he tries to take total credit. Meanwhile, it seems that they're going to wipe out the shareholders of AIG (not that there’s much left anyway) in order to save the company. If they had stopped all this when I screamed about it with Ambac last year, we wouldn’t be in this mess in the 1st place. Again, shorts screw the shareholders. Deplorable! Some of these guys agree too! Too little too late, though. _______________________________________ apppro’s take for 09/14/2008 @9:30 am EST: I am not a fan of SeekingAlpha. It really is just bloggers, so you need to take everything written with a grain of salt. HOWEVER, I rarely come across an article that truly smacks at the truth, so I thought I would link it and send you out an alert. Selling Short America and the Rest of the World _______________________________________ apppro’s take for 09/13/2008 @11:30 am EST: Ike has made this clip even more apropos, but still the main point is what the President said about the invasion and how it truly applies to the current ‘one by one’ destruction of our financial system by a small group of short sellers. Independence Day (ID4) - The Prez sees the truth! “Confidence is a terrible thing to waste!” and on this post anniversary of 9/11 we have allowed those Me’ers to do more financial damage to us then Osama could have ever had hoped for. Even Art Cashin chimed in yesterday, and also went as far as to tell the CNBC blabbermouths to cool it! I warned you of this months ago. Maybe now someone will listen. Obviously our government via the SEC isn't! The now ‘4 Golden Rules’: 1. Reinstating the Up-tick rule 2. Cracking down on naked shorting 3. Instituting some rules on what should be said on National TV 4. Pass a Wind-Fall Capital Gains Tax of 65% on ALL short sales retroactive to 01/01/08.
Side Note: What did I say about oil and I think it goes well below $100 Monday. _______________________________________ apppro’s take for 09/10/2008 @5:30 pm EST: Surprise..surprise..surprise!. This morning I had sent an email off to Squawk@CNBC.com complaining that they were going to have that jerk Bill Ackman on again, and this was especially annoying just 2 days after the Fannie & Freddie debacle and the day after Lehman imploded. Well, guess what, I got a reply from supposedly Joe Kernen - highly doubtful. What really shocked me was the totally unprofessional level and tone of the response, but then again, my original email wasn't all that Pulitzer worthy either. But the point here is that these news people are still totally oblivious to the truth behind the pain that these Me'ers have caused and why. None of the current stock depreciations and confidence destruction had to reach these levels, but these TV personalities keep frothing at the mouth each and every time one of those Me'ers speaks. What got me especially pissed today was when Ackman went into his rational about why CVS needs to pay more then they are for Longs Drugs (LDG) buyout. Damn, a 25% profit for him in 1 month isn't enough! Oh yeah, it’s not about the money but that he’s always right no matter what. Asswipe! Less I digress, Ackman went on to say that the real-estate value of Longs was worth a lot more then anyone else thought. Wait a minute, didn't he just condemn Lehman, Fannie, Freddie, etc., because all their real estate and mortgages that were supposedly worthless. So let me get this right, everyone else’s real-estate is worth $.10 cents on the dollar if not $0.00, BUT Longs’ real-estate is worth a 140% PREMIUM? Am I missing something here? I don’t think so, but did any of those CNBC assholes say anything or even question it? Not a damn word! They just sat there with their tongues hanging out saying to themselves, "OMG, I want to be him." The self-admiration and hypocrisy should be enough to make any reasonable person just want to vomit! What really should get you mad is that because of the Fannie & Freddie takeover by the Federal Treasury – YOU’RE THE ONE REALLY PAYING ACKMAN & HIS CRONIES FOR ALL OF THEIR NARSARCISSTIC GREED!!!!!!!!!!!!!!!!!!!!!!! Fine, lets discuss a stock. Capstone (CPST) has gone from under $2 when I 1st noted it - to over $4.50 - and right back to under $2. Oh well. Today they announced a nice licensing (<<<A MUST CHECK LINK) deal with a 3rd party. Great idea and I hope it adds to cash flow and profit. I still think that they should shove one of those turbines powered by natural gas into a RV or Chevy Tahoe and offer to chauffeur Boone Pickens around. But no one ever listens to me! Yeah I know—Don’t Cry for Me Argentina! _______________________________________ apppro’s take for 09/07/2008 @4:30 pm EST: Ever since the end of July when our head-up-their-ass Government via Sec. Hank Paulson came out with its’ so-called rescue plan for Fannie & Freddie, and ever since the middle of August when Bill Ackman went on CNBC to declare his intention to destroy them; both Ackman and Paulson have been playing a very dangerous game of financial chicken. Well, after today I guess we all know who blinked 1st. Hey Paulson – LOOOSERRRRRRR! And if anyone thinks this will end the mess and make the shorts go away – roflmao!!!!!!!!!! This resolves nothing! On the contrary, it just gives those narcissistic Me’ers more ammunition and chutzpah! _______________________________________ apppro’s take for 09/06/2008 @9:30 am EST: The crime of the century is being executed right now and most of us are just sitting on our tight little buns oblivious to what is truly happening. For those of you that are watching and knowledgeable, but with your head up your ass: lol. According to several sources, our wishy-washy government is planning to wipe out the shareholders’ equity of Fannie Mae (FNM) & Freddie Mac (FRE) in the guise of saving the housing and mortgage industry. As fair disclosure I do not, nor have I ever owned either of these 2 stocks. I do however as can be seen from the “I’ll Show You Mine If” page that I own some stocks that some say may benefit from this, but I don’t think so. Lightning Round: Wachovia, BP, Elan and More Ambac [ABK 8.52 So what is happening? The issue at hand is that the 2 GSE’s: Fannie Mae & Freddie Mac have been basically unable to service and issue new mortgages, and pundits claim that this has caused the housing crisis and the downturn in our economy. Bull!%?!! Both F’s have lived up to their established prerequisites. However, certain entities & conditions have made it impossible to allow them to obtain enough funds to make more low-quality loans then they can currently or even may want to do. (Credit Crisis anyone! Lack of confidence crisis brought on by short sellers is more like it.) And let’s not make a mistake here, that the real issue is still – crappy loans and our addiction to them. Now that they can’t and others like Citibank, Bank of America, etc. WON’T; many proclaim that our economy is on the verge of collapse. The recent unemployment figures <6.1 percent> seem to confirm that. Yeah that sucks, but as you know I don’t agree with the reasons behind it. So what are the reasons behind Fannie & Freddie’s inability to get needed capital and thus their demise? Well, I have to just go back to that same couple of Generation Me’ers I’ve talked about but to no avail, with Bill Ackman at the helm. Please people, any person that has the unmitigated gall to send Pershing Square Capital Management Releases Letter to U.S. Treasury Department Regarding Fannie Mae and Freddie Mac after his openly declared short position on the GSE’s, really needs to be seen as what he is. I just don’t want to curse anymore right now. A person that openly declares the active, but unnecessary destruction of something, and at the SAME time openly declares that he will financially benefit from that said destruction; should have his or her balls cut off and shoved down their throat!! The final outcome of this Fannie & Freddie mess is still anyone’s guess right now, it’s truly all speculation, but I pray that our moronic government doesn’t give in to Me’ers over the weekend, and finds a way to allow capital to flow to the GSE’s without hurting any of the truly real heroes here – the long-term shareholders. However, after what the Fed & Secretary Paulson did to Beare Sterns, I’m not all that confident in the outcome for Fannie & Freddie.
Side Note: Just heard on CNN that workers at Boeing went on strike! Are they friggen’ nuts! _______________________________________ apppro’s take for 08/20/2008 @7:30 pm EST: This market is so under the control of the shorts and their minions, but just who are these jerks making everyone miserable? Well, it’s those same Generation Me’ers that I keep talking about and prime examples would be Bill Ackman and David Einhorn. Their objective, yeah to make a buck of course, but more significantly their objective is to prove themselves right at all costs. If they take down Fannie & Freddie like they are currently doing, we’ll all be in very serious condition. How the Gov can allow just a handful of assholes control us all is nuts. Even the Crash of ‘29 had more root causes! Not helping are the naysayers and the reporters that enable the gloom and doom. Come on guys. Enough negativity already! Even when there is someone to defend the cause, the negativity overwhelms and we’re all left with malaise and despair. On a high note, Cramer finally sees the light. I thought I would never, ever say this, but “Praise the heavens for Cramer.” Unfortunately he can’t have it both ways. He finally recognizes the unwarranted damage that his cronies are doing to the financial system and he begs for it to end. However, these are the same destroyers that he praised when they went after the monoline insurers like Ambac just a few months ago. On Cramer’s behalf I guess all we can say is that it’s about time and hope that the SEC listens. _______________________________________ apppro’s take for 08/06/2008 @7:30 am EST: To hell with all this market insanity. Just: Besides from being really hot, her energy policy is truly spot on! I just don’t understand how she can sit on that plastic lounge chair with no towel. Oh, and I apologize for the political endorsement—said I never would. Sorry! _______________________________________ apppro’s take for 07/26/2008 @10:30 am EST: Holy Crocs!!!!!!!!!!!!!!!!!!!!!!!!!!!! I have never meant to get political in this blog. Never blog or argue about politics & religion. It’s a no win situation! However, I do want to post a link to George Bush says the truth about Wall St. - Finally someone called it like it is. Yeah, Wall St. was drunk, not with power, but with greed. Now we’re all paying for it, because Wall St. is now overwhelmed by fear, and fear is far easier to control and generate. The recent actions by the SEC to stem naked short-selling, Congress passing this weekend of the housing bill, and above all – TIME – will help get us back to some sense of reasonable behavior. Hopefully! Now what do we do about all those well-meaning (bs) enablers? You just can’t keep pouring a drunk the Scotch, throwing him the keys to the car, and then screaming at that person when they smash the car into a brick wall. Enablers are just as guilty as the drunk himself. That’s exactly what the ratings agencies did to the monolines and banks. Moody’s, Fitch, and S&P kept saying: “Here’s another CDO. Insure it! Buy it! We love it! Its rated triple AAA, so go man go!” Now those same dickheads have kept downgrading the CDO’s, monolines, banks, etc., because of the crap they said just 10 months ago was the best think since Cheez Whiz. Jerks, and we’re all paying for it with bailouts and a tanking stock market. What really makes me want to vomit is what I saw this morning: Oakland, Calif. aims to sue muni bond insurers. OK, these guys take the cake. California, the poster child for bad mortgages and banking practices, is now saying we were screwed. Hey, Arnold, you want to play with the big boys, then get ready to pay. _______________________________________ apppro’s take for 07/15/2008 @7:30 pm EST: Boy oh boy is this market messed up and are we all so very screwed over! Finally, the SEC throws us a bone by cracking down on ‘naked short selling’ of Fannie & Freddie and the market doesn’t give a crap – just sells off late in the day anyway. The SEC better get this done fast, and for ALL stocks also. Furthermore, CNBC gets the Fannie Mae CEO on TV and basically beg him to say that it was the shorts, and what does the chicken-!%?! moron do > squat! Hey if he won’t call it like it is, then why shouldn’t the shorts use the dog ate my homework bs as their rational. “No..no..no! It ain’t me babe! It ain’t me you’re looking for…babe!” Give me a break! And why shouldn’t the shorts gloat in their narcissistic splendor, especially when their mentor Bill Ackman can get on TV and basically legally insider trade himself into another fortune. Even if we have a reasonable person come on like Art Cashen, all he can do now is say that our capitulation hasn’t yet been big and painful enough! Asshole! I really try to have an open mind and I really do see a great deal of justification in this sell-off. It just didn’t have to be so that our entire banking, mortgage, housing, and financial systems were destroyed and obliterated in the process. This doesn’t serve any greater good at all. Sooner or later this all has to end, or the results will not be pretty for any of us. _______________________________________ apppro’s take for 07/14/2008 @5:30 pm EST: I really don’t want to become a Cramer like know it all, but just listen to what these experts have to say. I think being in the company of Abi Joseph Cohen, among others, gives me a modicum of credibility. Unfortunately, we still have morons like Cramer, and that entire FastMoney crew, who are spouting their 10-minute buy & sell routine. Please listen to what John Bogel at Vanguard has to say. John Bogel Enough with this 10-minute mentality crappola. Don’t get me wrong, I’m not promoting never selling something. It’s true that if conditions change within a company or sector, yes you should sell. The problem with this is that if the news is of a short-term nature, then by the time YOU react to it, ‘the Street’ has already done its’ will and you’ll be screwed anyway. You’ll end up selling at the low, and when the stock recovers in a few days > you’ll be out. If the news is of a longer-term nature – I’ve got to say that about the same thing is going to happen. The stock may take a whole lot longer to go back up, if then, but you’ll still be out at the low. We’re NOT traders! I know I have issues selling at the right time (among other things), but knowing when to sell is important. Just not selling 5 minutes after you buy. Remember: short-term gains are still 28%. To paraphrase the Amazing 1, in a market like this NOT looking is also just as important. It now may be too late to sell and it’s hard to know if it’s too early to buy. You did your research and made your buys. Have some faith in yourself even if you can’t have any in Wall St. I know it’s a disgrace what we’re allowing a few to do to our financial system and us. Just plain wrong!!!! I’m not sure when, or if anyone will ever listen and allow some degree of normalcy to come back to our markets . Is It Time to Pull the Rug Out From Short-Sellers?@ The Wall Street Journal Online Until that time comes, try to not make yourself totally nuts like I do. _______________________________________ apppro’s take for 07/13/2008 @5:30 pm EST: Housing: Barron's Calls a Bottom lol BTW: That’s a “Lot’s of Luck!” lol and not a “Laughing out Loud!” lol. This is far more entertaining: Rooftop Soccer. _______________________________________ apppro’s take for 07/12/2008 @9:30 am EST: The taking down & destruction of Fannie and Freddie by those Generation Me’ers has now become the latest example of stupidity on Wall St. Oh sure, those Me’ers have their 5 homes, why should anyone else get squat. “Let them eat cake!” They say that fear and greed rule this market, and this week they weren’t kidding! We all know that fear is a far more powerful emotion then greed, I blogged this before. But I also said that these Me’ers are considerably more compelled to fulfill their destiny because of their need, no driving compulsion to be proven right no matter what. If you look at the right side of this DJI 2-Year Chart it becomes evident just how the fear downswing is quicker and more violent then the relatively longer greed trek up. Personally I like this quote from Tharpa.com: “The cause of all fear is self-grasping ignorance, and all the delusions, such as selfishness, attachment and anger, arise from that ignorance, as well as all the unskillful actions motivated by those delusions.” It tells you just how wasteful and ridiculous you are in a rather soothing way. J Irrational fear is the reason that those short sellers have had it so easy lately. Oh, don’t forget that they’ve also been assisted by the SEC & the elimination of the Up-Tick Rule (1-year anniversary this week). I LOVE what these 2 guys Video - CNBC.com had to say about combating the shorties, but it is really too little too late. Unfortunately, the damage has been done. Yesterday the Dow twice crossed back into the 10-thousand territory. DJI 7/11 Chart It was a struggle to get back above 11,000 and I don’t give much hope for next week. This week both Alcoa and GE gave reasonable earnings to the start of this latest reporting season. Did anyone care? Obviously not, we hit 2-year lows. DJI 2-Year Chart Shorts Get the Goldmine, Optimism Gets the Shaft The Greater Good? Now what did Mr. Spock say in his infamous death scene from The Wrath of Kahn? Oh yeah, “The greed of a few dickheads outweighs the rest of our sorry asses!” _______________________________________ apppro’s take for 07/09/2008 @7:30 pm EST: I honestly believe that this market is now totally out of control. The speculation and rumor mongering has reached a new high, or in this case low. Am I the only one seeing this? Apparently not, but no one is doing a damn thing about it either! Investors Thirsting For Relief Thursday - Forbes.com This chart of CPST pretty much sums it up for the insane 2:40pm across the board sell-off today. We must get normality back into our markets >> ‘3 Golden Rules’! Oh, and don’t even get me started on the ridiculous, no deplorable amount of time it has taken the FCC NOT to do anything about the Sirius / XM merger. Sirius-XM Merger Decision Delay Is Unacceptable - Seeking Alpha _______________________________________ (Continued on page 85) |
