Panic at the Disco

Discussion in 'Trading' started by michaelscott, Aug 3, 2007.

  1. Its looking scary out there, but I know in my heart that now is the time to buy. When everyone is selling off their old shares like yesterday's trash, I feel good and know that its time.

    BSC looks like it will go into bankruptcy, CFC trading under its book value, and the clincher, one of the richest most famous New Yorker's casino trading like a penny stock. Ahhhhh. Thats what I like. Now we will find the value.
  2. and on a scalping basis, these markets are doing well. two nights in a row of v bottoms in the asian markets.

    same thing in the US...

    buy this dip with a stop and don't scale in until the 3:45 buying rush. statistically it works.
  3. Thank you Michael for posting. You are my contra-indicator...:D :D :D => Long BSC !
  4. Rugby



    Do you use stops on your longs? You are long CFC AAPL GS from higher, correct?
  5. long dated puts and calls.

    I made a good deal on the puts of GS and cashed out once I saw the pivot. I was looking for a re-entry through the calls, but it never gave me the pivot to do so. I suspected the pivot would be in the 190s then it just kept burning off.

    Im waiting for another pivot in Apple to buy some calls. Apple isnt doing so bad when compared to the rest of the market. It will burn off some and then we will see the pivot.

    CFC isnt as bad as you think it is and its being panic sold. We'll see what happens in the future.
  6. The A/D line is starting to bottom out. Each correction the A/D has declined from 12 to 14 bits. The chart is self-explanatory.
  7. Seriously...

    Who says disco in this time of age...

  8. Rugby


    The same guy urging you to buy CFC @ 30 and AMZN @ 85...

    Registered: Mar 2007
    Posts: 1469

    07-27-07 10:11 AM

    The gut reaction in today's economic environment would be to immediately sell/short the CFC common stock. However, you have to know the players in the game.

    Mozillo has been in the business since the 60s. Mozillo sold mortgages through high interest rate environments and knows how to run his business through the worst of times. Mozillo is not a fighter pilot risk taker, but more like the captain of a huge airliner.

    Mike Perry at Indymac, on the other hand, is the fighter pilot of the mortgage industry. In the 90s, Mozillo realized that Perry and Indymac would be a great risk to Countrywide, therefore, he spun it off.

    I have great faith that Mozillo will be able to pilot his airliner through this storm. Other mortgage lenders will go out of business and the last one standing will be Mozillo who will scoop up their customers.

    Perry, on the other hand, will get shot down. The risks that Perry had taken were great and that of a gambler.

    I say to short Indymac and long CFC.
  9. S2007S


    I'm sure some of you tuned into cnbc this morning for the job report, they had jack, forgot his last name, but he mentioned 15k by the end of 2007, as soon as he said Rick said that bull market corrections usually lead to bear markets.....

    It seems everytime the market has a minor 3% correction all the bulls have to come out complaining that there just cant be a bear market and that the bull market has plenty of room to run. The market has been bullish for nearly 5 straight years. I dont know why some cant just accept a bear market.
  10. S2007S


    CFC is probably going to run into more problems.
    #10     Aug 3, 2007