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Viewing 7 posts - 1 through 7 (of 7 total)
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  • September 7, 2007 at 5:05 PM #10202
    HereWeGo
    Participant

    Maybe the paper really was Country-Fried after all.

    Just about 350 Million in paper downgraded to BBB- from AAA, with various other smaller downgrades of similar magnitude.

    Ouch.

    September 8, 2007 at 8:23 AM #83853
    LookoutBelow
    Participant

    Tip Of the Iceberg…fasten your seatbelts, this is just getting started…..BofA …Wells Fargo, UBOC….just watch

    September 8, 2007 at 8:49 AM #83857
    JWM in SD
    Participant

    “.BofA …Wells Fargo, UBOC….just watch”

    How about WAMU?

    September 8, 2007 at 3:06 PM #83877
    HereWeGo
    Participant

    Maybe. I know Cramer thought they were in trouble, but that the forthcoming Fed rate cuts would save them. After reading Tanta’s latest opus over at CR, I have my doubts.

    If you intend to short them, it might be wise to wait a few days after 9/18. That’s probably the best entry for a short/put, assuming all heck doesn’t break loose this week.

    September 8, 2007 at 3:14 PM #83883
    JWM in SD
    Participant

    PUTs only for me and only what I’m willing to lose.

    Regarding the 18th, I don’t think WS is going to get what it wants from Bernanke.

    September 13, 2007 at 4:43 PM #84485
    Raybyrnes
    Participant

    Hope you sold those PUTS.

    September 13, 2007 at 4:55 PM #84492
    HereWeGo
    Participant

    I don’t know about that. The longs are dancing on the edge of a razor IMO.

    I’m 95% neutral, 4 1/2% long (tech/energy) and 1/2% short (ouch).

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