ABK today

I'm not sure if this is just me, but at first glance the "earnings" report looks like one of the most ugliest things I've ever seen:

http://biz.yahoo.com/bw/080423/20080423005444.html?.v=1

 

Putting this into perspective, the loss of $1.66 billion is more than the $1.5 billion they raised on 7 March

Is this a sell or a very strong sell?

 

stock is garbage. What would you expect?

 

Good trade is too wait for this thing to drop bottom and buy before close today. Sell it on a rally by Friday.

 

What happened to all the hoopla about ABK. This was the stock, along with MBI, that was the crux of the financial worlds existence... Now you don't hear much... Clearly not because it has stabilized.... ??

 

the rating agencies are on the CDS speculation business now. they along with he company dont believe mark to market losses make a difference, to them this is just temporary gaap losses.

 

Rating agencies are now like the Fed. They are around for stock market stability.

 

This is absolutely nuts. Bonds are not up. Stock market up. ????? (btw, i'm long plenty of the market .. and long bond calls .. so no big deal for me).


What is going on? where's the sanity?

 

I'm pissed I couldn't get shares short of MBI this morning...fucking Ameritrade.

 

Bottom is zero... won't be able to rally it afterwards though.