Monday, March 05, 2007
Position Updates: AAPL, CORS
I own a nice chunk of AAPL and feel great that it is up today. However, I feel the analyst community is getting fucking desperate, with two upgrades in so many days.
In short, I am not selling, but would not chase the fucker here. Also, it is my experience that big blow-ups, like what's going on in the mortgage business, doesn't go away in a week. Don't bet the out house on a market bottom!
These mortgage fuckers will keep providing the market with bad news, for months to come.
With that being said, I own CORS and have been exactly wrong. I would not bottom fish it here, since the speculators are out and about looking for the next blow up. Many stocks will be taken down, whether they deserve it or not.
Bottom line: Because of this financial meltdown in the sub-prime market, all of the lenders will be discounted. Furthermore, sometime in the future, there will be incredible buying opportunities, but not yet.
Let them come down, then scale in-- as the selling abates.
Take a look at the horrific action in the lenders here.
In short, I am not selling, but would not chase the fucker here. Also, it is my experience that big blow-ups, like what's going on in the mortgage business, doesn't go away in a week. Don't bet the out house on a market bottom!
These mortgage fuckers will keep providing the market with bad news, for months to come.
With that being said, I own CORS and have been exactly wrong. I would not bottom fish it here, since the speculators are out and about looking for the next blow up. Many stocks will be taken down, whether they deserve it or not.
Bottom line: Because of this financial meltdown in the sub-prime market, all of the lenders will be discounted. Furthermore, sometime in the future, there will be incredible buying opportunities, but not yet.
Let them come down, then scale in-- as the selling abates.
Take a look at the horrific action in the lenders here.
Comments:
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i think cors goes to $0. they financed all the big box condos down here in fl, & it's not a recession in that market, it's a depression.
they have played games with their reserves vs earnings for qtr after qtr, and sooner or later they will bite the big one.
no foolin, $0
wm will also bite it sooner or later.
they have played games with their reserves vs earnings for qtr after qtr, and sooner or later they will bite the big one.
no foolin, $0
wm will also bite it sooner or later.
have you seen my liver? man that's a bad bet on your part.
i will bet you a case of Macallan Single Malt Scotch 12 Year it sees $10 before $25. you in?
i was short cors at +-$30, and covered at +-24, like a fool.
i will bet you a case of Macallan Single Malt Scotch 12 Year it sees $10 before $25. you in?
i was short cors at +-$30, and covered at +-24, like a fool.
good read:
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_C/threadview?m=tm&bn=4208&tid=2990&mid=2990&tof=16&frt=2
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http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_C/threadview?m=tm&bn=4208&tid=2990&mid=2990&tof=16&frt=2
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