Official Let's Make Some Money Off Stocks Thread
03-04-2009, 08:57 AM
#1961
Be careful with GE, they are trading a lot like Citigroup and are probably just as insolvent. Don't let "cheap" be your reason for buying. Yesterday investors bet that the stock would be trading below $2.50 by mid June by trading ~82,000 puts with a strike price of $2.50 representing 82 million shares of stock. These are not small players betting the company will go to near zero.
I personally believe GE is hiding a great amount of worthless assets off balance sheet. Once the cover is taken away, the true insolvency of the company will be revealed. Essentially, GE is just as bankrupt as Lehman Brothers.
More put buying is going on again today at the same strike price.
2.50 GEWRS.X 0.29 0.03 0.28 0.30 53,778 107,308
I personally believe GE is hiding a great amount of worthless assets off balance sheet. Once the cover is taken away, the true insolvency of the company will be revealed. Essentially, GE is just as bankrupt as Lehman Brothers.
More put buying is going on again today at the same strike price.
2.50 GEWRS.X 0.29 0.03 0.28 0.30 53,778 107,308
03-04-2009, 09:14 AM
#1962
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Originally Posted by AZDavid,Mar 4 2009, 10:57 AM
Be careful with GE, they are trading a lot like Citigroup and are probably just as insolvent. Don't let "cheap" be your reason for buying. Yesterday investors bet that the stock would be trading below $2.50 by mid June by trading ~82,000 puts with a strike price of $2.50 representing 82 million shares of stock. These are not small players betting the company will go to near zero.
I personally believe GE is hiding a great amount of worthless assets off balance sheet. Once the cover is taken away, the true insolvency of the company will be revealed. Essentially, GE is just as bankrupt as Lehman Brothers.
More put buying is going on again today at the same strike price.
2.50 GEWRS.X 0.29 0.03 0.28 0.30 53,778 107,308
I personally believe GE is hiding a great amount of worthless assets off balance sheet. Once the cover is taken away, the true insolvency of the company will be revealed. Essentially, GE is just as bankrupt as Lehman Brothers.
More put buying is going on again today at the same strike price.
2.50 GEWRS.X 0.29 0.03 0.28 0.30 53,778 107,308
03-04-2009, 09:57 AM
#1963
Make sure your money is with a stable financial institution. This news is very concerning.
http://www.bloomberg.com/apps/news?pid=new...id=alsJZqIFuN3k
http://www.bloomberg.com/apps/news?pid=new...id=alsJZqIFuN3k
03-04-2009, 10:11 AM
#1964
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Originally Posted by AZDavid,Mar 4 2009, 10:57 AM
Make sure your money is with a stable financial institution. This news is very concerning.
http://www.bloomberg.com/apps/news?pid=new...id=alsJZqIFuN3k
http://www.bloomberg.com/apps/news?pid=new...id=alsJZqIFuN3k
i cant even begin to imagine what happens when fdic goes insolvent.
03-04-2009, 06:23 PM
#1966
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when the fdic goes insolvent don't bother even going to the bank unless your buddy works there.
I agree, be careful with GE. I watch these stocks all day every day. I watch how they eat through size and how they rebound off size. I see which stocks lead the market down and which go down (or up occasionally) regardless of the futures chart. GE is hiding something but most of it is priced in by the look of it. Something is still wrong with the insurers, people are starting to price in on the debt side that annuities etc. may not be payable. Even if a small % of a firm is effected by this it will be like a plague.
Their "rock solid" balance sheet is starting to raise eyebrows. Stocks like GE do not get slaughtered like this on accident, the market is oddly accurate sometimes. Just like how the equities priced in BAC and C's problems before anyone saw them coming (for the most part).
Everyone keeps saying we are going to get a 1k point rally but I don't see it. If we get one sell and sell hard.
I agree, be careful with GE. I watch these stocks all day every day. I watch how they eat through size and how they rebound off size. I see which stocks lead the market down and which go down (or up occasionally) regardless of the futures chart. GE is hiding something but most of it is priced in by the look of it. Something is still wrong with the insurers, people are starting to price in on the debt side that annuities etc. may not be payable. Even if a small % of a firm is effected by this it will be like a plague.
Their "rock solid" balance sheet is starting to raise eyebrows. Stocks like GE do not get slaughtered like this on accident, the market is oddly accurate sometimes. Just like how the equities priced in BAC and C's problems before anyone saw them coming (for the most part).
Everyone keeps saying we are going to get a 1k point rally but I don't see it. If we get one sell and sell hard.
03-04-2009, 06:33 PM
#1967
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Originally Posted by sahtt,Mar 4 2009, 10:23 PM
Everyone keeps saying we are going to get a 1k point rally but I don't see it. If we get one sell and sell hard.
Who are they so I can laugh at them.
03-05-2009, 04:56 AM
#1968
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Originally Posted by GPMike,Mar 4 2009, 05:34 PM
Mmmhmmm. I moved my money to a Canadian bank a few months ago. Praise me Cthree!! Praise me!
The CAD is down more than 25% vs the USD in the last 6mo...
Andrew
03-05-2009, 06:19 PM
#1969
Things just got more crazy
http://online.wsj.com/article/SB123630125365247061.html
Who is the government going to let fail to utilize these funds?
http://online.wsj.com/article/SB123630125365247061.html
Who is the government going to let fail to utilize these funds?
03-06-2009, 10:35 AM
#1970
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Bought some GM Jun 3 puts. Added to GLD. Opened a UDN position.
I'm with Schiff, Roubini, Celente, etc. on this whole mess. Throwing money at the problem is throwing fuel on the fire. We may get a suckers rally or two, but longer term the markets continue negative, the dollar is going down and inflation or hyperinflation is around the corner. GM is doomed.
I'm with Schiff, Roubini, Celente, etc. on this whole mess. Throwing money at the problem is throwing fuel on the fire. We may get a suckers rally or two, but longer term the markets continue negative, the dollar is going down and inflation or hyperinflation is around the corner. GM is doomed.