Take a look at ABK today folks, if you love to day trade stocks look at this mother today, was up fast then down hard now coming back, who knows what this is going to do next but if you love some movement in stocks, this is a good one today.
Made some nice coin off this financial and WM. Didn't let them ride as far as I would have liked. Moves are done, move on.
Had MBI too yesterday. Both got continuation rallys today. Hope they both drop hard in the future. Leave it for the birds.
Smartest thing ever on these boards. Think about it. Greenberg last week, Gasparino yesterday..... You can't fight city hall. Somebody in Greenwich is puttin' in a pool.
The shares have run up $1.08 from the prior close on release of CEO comments that market fears for the company have been overblown, nothing justifies the haircut the stock has taken, that the company does not take material liquidity risks and so on. The bank stocks were on the green side for the most part all through the morning. The commentary despite the monumental loss the company reported appears to be turning the tide more aggressively to the upside and the major indexes are hitting the highs of the day. Bear in mind that the shares are short-sale restricted and the short-base in the name is huge on a float basis. We could see a real rip up in all the monolines as a result.
What a load of shit. Ambac is giving a load of bull to everybody. I mean come on look at there quarter, they should have faced a down grade by the credit rating agencies. I live in san diego and man is there alot of foreclosures and more to come as the economy worsens and the people who had 600k homes out here can't refinance because there now for 450k. Yea right Ambac is in good shape and the ratings agencies should be prosecuted for fraud, since they're hesitating on downgrading the mbia's. Any fool can tell with all the housing problems out there that they are about to go belly up. To make matter worse rating agencies are basically saying that these insurers are triple A rated indicating that they could cover any mortgage that they insure. These are the type of days that happened in 2000 with the dotcom bust when all the analysts said there's nothing wrong with these companies that don't make money. Free market my ass people are just letting there buddies sell out there position before the downgrades will happen so that in the end the little guy will lose.
Casino move paid off on the long end I guess on these two. I played it one more time yesterday....Could of woke up and seen it the other way though. No regrets.