Friday, August 10, 2007
Closing Comments
We are not done going lower. If you are just tossing dollars into the market, prepare to lose a few hairs, over the next few weeks.
I am hearing lots of rumors, from multiple sources, regarding hedge fund liquidations. I can tell you there is still significant headline risk, specifically with GS.
Because of this belief, I am prepared to short the financials, especially into rallies. As you know, recently, my favorite enemy is LAZ. Without doubt, I feel LAZ will be hitting new 52 week lows, in short order.
Despite weakness in the brokers, the market managed to recover and post decent gains in a number of sectors, namely defense and tech.
Also, some banks/brokers went nuclear on the shorts, specifically OPY, CORS, LEND, FMR, LNC and even LAZ.
With my money, I will continue day trading, like a degenerate OTB guy, while creating effective hedges.
The choppiness of this market should not be explored by stupid fucktards. Meaning: Most of you "internet leeches" have no business trading and should find a real job.
Finally, it's worth noting insane moves in some of the industrial names, such as CMCO, MLI, CTB, IESC, LECO, PCR, UIC and ETN. Also, NTRI made an impressive rally off its God forsaken lows.
Top picks: Short LAZ/Long MVIS.
UPDATE:16:05 GS Goldman Sachs' Alpha Fund drops 26% in 2007, people say - Bloomberg (180.50 -1.75) -Update-
I am hearing lots of rumors, from multiple sources, regarding hedge fund liquidations. I can tell you there is still significant headline risk, specifically with GS.
Because of this belief, I am prepared to short the financials, especially into rallies. As you know, recently, my favorite enemy is LAZ. Without doubt, I feel LAZ will be hitting new 52 week lows, in short order.
Despite weakness in the brokers, the market managed to recover and post decent gains in a number of sectors, namely defense and tech.
Also, some banks/brokers went nuclear on the shorts, specifically OPY, CORS, LEND, FMR, LNC and even LAZ.
With my money, I will continue day trading, like a degenerate OTB guy, while creating effective hedges.
The choppiness of this market should not be explored by stupid fucktards. Meaning: Most of you "internet leeches" have no business trading and should find a real job.
Finally, it's worth noting insane moves in some of the industrial names, such as CMCO, MLI, CTB, IESC, LECO, PCR, UIC and ETN. Also, NTRI made an impressive rally off its God forsaken lows.
Top picks: Short LAZ/Long MVIS.
UPDATE:16:05 GS Goldman Sachs' Alpha Fund drops 26% in 2007, people say - Bloomberg (180.50 -1.75) -Update-
Comments:
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Could it be that short covering today was met with forced liquidations by hedge funds, hence, fairly flat at the close?
Fly, I believe you're right--we're going down some more. Options expiration week coming up.
Fly, I believe you're right--we're going down some more. Options expiration week coming up.
WTF with your hatred of LAZ? They're an M&A boutique, for the most part... schite, they don't even have much of a desk, from what I'm told.
Why not wack the guys with exposure?
Why not wack the guys with exposure?
I think we may end up next week higher. The PPT, imaginary catfuckers that they are, will be plotting all weekend to deal with any further stresses in the system. They will have a plan for further weakness next week. If their plan fails, all hell will break loose & watch out below. The more likely outcome is some more wild action with an upward bias. imo , of course
That's precisely the point, Jake.
What? That they have no exposure to all the shit that's bringing down Bear and Goldman??
What? That they have no exposure to all the shit that's bringing down Bear and Goldman??
Jake--
LAZ derives more than 60% of their revenue from m&a. It is my belief m&a will grind to a standstill, hence hamstringing those lazy fuckers.
Also, if the ABN or TXU deals fall through, LAZ is up shits creak, without a boat.
The ABN deal may not go through.
LAZ derives more than 60% of their revenue from m&a. It is my belief m&a will grind to a standstill, hence hamstringing those lazy fuckers.
Also, if the ABN or TXU deals fall through, LAZ is up shits creak, without a boat.
The ABN deal may not go through.
Think about it jake, if banks aren't even lending money to themselves overnight, do you really think M&A is going to get done at the same rate it did in the first half of '07?
LAZ also has a large BK practice.
Listen, I'm not long the stock, but that firm makes money year in and out, mostly parasitically. They let Goldman or Morgan do all the work and they get a "consulting" fee because somebody plays bridge with Wasserstein or some schist.
I just think there are easier targets in the brokerage arena, that's all.
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Listen, I'm not long the stock, but that firm makes money year in and out, mostly parasitically. They let Goldman or Morgan do all the work and they get a "consulting" fee because somebody plays bridge with Wasserstein or some schist.
I just think there are easier targets in the brokerage arena, that's all.
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