Ok so what will happen to these guys over the weekend? Word is the book value is worth as much at $75 per share. JP Morgan stepped up to the plate today (with help from the Fed). Will they be the one to buy BSC out? Bonzo put his whole VSE account on the line. This will explode one way or the other. Either someone will make a play for BSC and we’ll continue to question who is next to fall out of the sky. OR BSC will be a stand-alone company and we’ll retest the lows recently…and we’ll still be asking who is next? Blood is on the street. THIS IS THE BOTTOM! Your thoughts skinneej?
PALMETTO C ~ 16’ Sea Fox
The Morris Island Lighthouse web page
www.savethelight.org
Get yer chart out… This is not the bottom… Need to hear the housing sector heat up…
Bottom my white ass. We’re about to drive off into the Grand Canyon.
Housing won’t heat up—it is going to continue to tailspin for some time.
check the closing low on 1/22/08 and the open on 1/23/08 then the close today 3/14/08. Also look at the Williams %R…ready to spike higher!
Now check the VIX levels around 31. Fear spiked today with the market sell-off. Williams %R here is at the peak and ready to slam lower.
Bottom line: Brokers report quarterly earnings next week. Fed meets next week (at least 75 basis points are in the works). Visa moves their IPO up to Weds…this in itself is awesome news. Credit card company IPO’ing in a credit crunch??? This speaks volumes about how they feel the market sentiment is now. This IPO could bring in as much as $17 Billion…BILLION!!! Don’t forget Friday the markets are closed. Bottom bottom line - Asia sells off Sunday night our time then the futures open Monday AM early with a sharp sell-off…only to rebound amazingly. The rest of the week marks a nice uptrend. Remember Friday the markets are closed so it will be 4 days of EXTREME volatility and WE WILL ESTABLISH A BOTTOM.
Move of the week: Watch Goldman Sachs with their earnings!!!
EDIT to add: sorry the pics are kinda blurry…if you click on them you can see it better.
PALMETTO C ~ 16’ Sea Fox
The Morris Island Lighthouse web page
www.savethelight.org
I also remember you proclaiming the bottom 2 months ago! 
Fundamentals… Think fundamentals… Of the economy that is… Foreclosures are still going UP!!!
VISA is NOT a play on credit. Visa handles transactions. Banks give credit, visa just processes the transactions. Visa will always do well because the world doesn’t use cash anymore.
quote:
Originally posted by TeamPig
Bottom my white ass. We’re about to drive off into the Grand Canyon.
Housing won’t heat up—it is going to continue to tailspin for some time.
Hey, I have a white a$$ too, and I’m putting it on the line here…today…right now! TeamPig, how are you doing in the CF.com stock game? Oh, you are playing…YET? 
Come on, put a million bucks out there and see what happens. I can almost promise you won’t beat Capt Ed to the bottom!
PALMETTO C ~ 16’ Sea Fox
The Morris Island Lighthouse web page
www.savethelight.org
Just who owns VISA again? Let me guess, it’s probably the same people that have filed 23A exemption letters with the Federal Reserve because they can’t meet minimum capital requirements. Or maybe it’s the same people that have hundreds of billions in off balance sheet CDOs in SPV’s offshore that are marked “AAA” and carried at 85-99.9 cents on the dollar yet similar securities trade for 20 cents on the dollar because over half of the underlying mortgages are in default or delinquent by atleast 60 days.
THIS CREDIT CRISIS ISN’T DUE TO A LACK OF LIQUIDITY! AND THE UNDERLYING ASSETS ARE CONTINUING TO DEFAULT AT AN INCREASING RATE! PRIME FORECLOSURES ARE ACCELERATING!
quote:
Originally posted by skinneej
I also remember you proclaiming the bottom 2 months ago! Fundamentals… Think fundamentals… Of the economy that is… Foreclosures are still going UP!!!
VISA is NOT a play on credit. Visa handles transactions. Banks give credit, visa just processes the transactions. Visa will always do well because the world doesn’t use cash anymore.
I did proclaim the bottom 2 months ago…right where we have just checked up according to the charts.
You are right, VISA does handle transactions, BUT do you honestly think that a credit card company could possibly IPO without the support of the backing banks? Who underwrites this type of IPO? This thing will be overbooked like 4-5 times. Personally I’ll wait a few weeks and play some options on VISA.
Fundamentals…that is the difference between skinneej and Bonzo…fundamentals versus technicals. Oh yea, and today is the 3 year anniv of Cramer’s Mad Money TV show…BOOYAH!!!
PALMETTO C ~ 16’ Sea Fox
The Morris Island Lighthouse web page
www.savethelight.org
quote:
Originally posted by TeamPig
Just who owns VISA again? Let me guess, it’s probably the same people that have filed 23A exemption letters with the Federal Reserve because they can’t meet minimum capital requirements. Or maybe it’s the same people that have hundreds of billions in off balance sheet CDOs in SPV’s offshore that are marked “AAA” and carried at 85-99.9 cents on the dollar yet similar securities trade for 20 cents on the dollar because over half of the underlying mortgages are in default or delinquent by atleast 60 days.
THIS CREDIT CRISIS ISN’T DUE TO A LACK OF LIQUIDITY! AND THE UNDERLYING ASSETS ARE CONTINUING TO DEFAULT AT AN INCREASING RATE! PRIME FORECLOSURES ARE ACCELERATING!
WOW, lots of big words and acronyms there TeamPig…Collateralized Debt Obligations…whew, that’s a mouthful. SPV or SIV? Special Purpose Vehicle or Structural Investment Vehicle? Way over my head for sure!
Lack of liquidity? Of course not, the Fed is taking care of that…and the dollar at the same time. The Fed’s toolbag is full of beer and cigarettes…buy MO and BUD!
PALMETTO C ~ 16’ Sea Fox
The Morris Island Lighthouse web page
www.savethelight.org
Who owns VISA?
Who has 23A Exemption Letters?
The banks are taking VISA public because they’ll take less of haircut selling their stake to the public than they will selling MBS.
They desparately need the cash—BSC was just the first major investment bank to fail!
One other thing, somebody tell me who the counterparties are with all of BSC’s derivative contracts, which obviously won’t settle because they are broke. Maybe Advance America can payday lend them some money for a little while?
quote:
Originally posted by Bonzo72
quote:
Originally posted by TeamPig
Bottom my white ass. We’re about to drive off into the Grand Canyon.
Housing won’t heat up—it is going to continue to tailspin for some time.
Hey, I have a white a$$ too, and I’m putting it on the line here…today…right now! TeamPig, how are you doing in the CF.com stock game? Oh, you are playing…YET?
Come on, put a million bucks out there and see what happens. I can almost promise you won’t beat Capt Ed to the bottom!
PALMETTO C ~ 16’ Sea Fox
The Morris Island Lighthouse web page
www.savethelight.org
I have a stock tip for you…
26’ Twinvee
Suzuki 175’s
I’m taking a beating right now…But when we rebound…Look Out!
quote:
Originally posted by Bonzo72
quote:
Originally posted by TeamPig
Just who owns VISA again? Let me guess, it’s probably the same people that have filed 23A exemption letters with the Federal Reserve because they can’t meet minimum capital requirements. Or maybe it’s the same people that have hundreds of billions in off balance sheet CDOs in SPV’s offshore that are marked “AAA” and carried at 85-99.9 cents on the dollar yet similar securities trade for 20 cents on the dollar because over half of the underlying mortgages are in default or delinquent by atleast 60 days.
THIS CREDIT CRISIS ISN’T DUE TO A LACK OF LIQUIDITY! AND THE UNDERLYING ASSETS ARE CONTINUING TO DEFAULT AT AN INCREASING RATE! PRIME FORECLOSURES ARE ACCELERATING!
WOW, lots of big words and acronyms there TeamPig…Collateralized Debt Obligations…whew, that’s a mouthful. SPV or SIV? Special Purpose Vehicle or Structural Investment Vehicle? Way over my head for sure!
Lack of liquidity? Of course not, the Fed is taking care of that…and the dollar at the same time. The Fed’s toolbag is full of beer and cigarettes…buy MO and BUD!
PALMETTO C ~ 16’ Sea Fox
The Morris Island Lighthouse web page
www.savethelight.org
I would hope you know what those terms are trading in this market.
quote:
Originally posted by Bonzo72
quote:
Originally posted by skinneej
I also remember you proclaiming the bottom 2 months ago! Fundamentals… Think fundamentals… Of the economy that is… Foreclosures are still going UP!!!
VISA is NOT a play on credit. Visa handles transactions. Banks give credit, visa just processes the transactions. Visa will always do well because the world doesn’t use cash anymore.
I did proclaim the bottom 2 months ago…right where we have just checked up according to the charts.
You are right, VISA does handle transactions, BUT do you honestly think that a credit card company could possibly IPO without the support of the backing banks? Who underwrites this type of IPO? This thing will be overbooked like 4-5 times. Personally I’ll wait a few weeks and play some options on VISA.
Fundamentals…that is the difference between skinneej and Bonzo…fundamentals versus technicals. Oh yea, and today is the 3 year anniv of Cramer’s Mad Money TV show…BOOYAH!!!
That's the point. They are not a "credit card company". They are a transaction handling company that puts their logo on debit cards\credit cards taht are issued by OTHER agencies. They are just a middle man. It's got nothing to do with credit. It has everything to do with HOW you access the money you already have.
I’m not saying that banks are all completely shut down. They still do things like IPO’s that make money. They still give loans to those who have great credit and money to put down. They have to or they don’t live. I’m just saying that the h
I hear those terms are trading in this market. Maybe you know more about them than I do (and I don’t know much!) and can explain them further to us. As I stated before, I trade more on technicals than on fundamentals. BUT, I do realize that right now the fundamentals are not so great. I am not an fool, but I am also not running with the rest of the lemmings towards the cliff-edge.
PALMETTO C ~ 16’ Sea Fox
The Morris Island Lighthouse web page
www.savethelight.org
BSC will be bought out by Monday…closed at $30.00 today…figure up to $52.50 buyout target. this is halfway between the book value of around $75 and the closing point today. I have MAR 35’s and APR 50 call options…and should be sitting pretty, especially the front month calls…
I’d like to get calm like a bomb’s opinion here too…
PALMETTO C ~ 16’ Sea Fox
The Morris Island Lighthouse web page
www.savethelight.org
If you think VISA is a credit card company, then you think that Goodyear made your car.