Wave C in junk continues

There was a story there about a nordic town that bought toxic ******** they thought was mortgage related. Turned out they had a lot of junk bonds mixed in. Do you think just because media focuses on housing that its the only place where problems exists? The same geniuses that came up with risk models for homes made the risk models for corporate bonds. Do you think those bonds are worth anything? You all keep an eye on homes data. I'll keep an eye on the other debt.

I'm keeping my eyes on financials. U.F.O. (Go FAS)

i almost switched my 3X LC. that might be the best trade of the century! i'm envious!!!

I'm keeping my eyes on financials.

U.F.O.
(Go FAS)

Nationalization of some banks will be inevitable. You listening to Bernanke? The same genius that said subprime would be a small impact to our economy?

You use fundamentals to guide the direction, technicals to pick your spot. But never forget that fundamentals is what you use to guide the direction.

And fundamentals say the government doesn't have enough money to save all these guys. They will have to go into bankrupsy. Folks with $ are witing to buy at bargain prices. Like me.

I'm keeping my eyes on financials.

U.F.O.
(Go FAS)

Nationalization of some banks will be inevitable. You listening to Bernanke? The same genius that said subprime would be a small impact to our economy?

You use fundamentals to guide the direction, technicals to pick your spot. But never forget that fundamentals is what you use to guide the direction.

And fundamentals say the government doesn't have enough money to save all these guys. They will have to go into bankrupsy. Folks with $ are witing to buy at bargain prices. Like me.

I like your comment about technicals supporting fundamentals: not the other way around. According to Soros theory of reflexivity banks were showing strong technicals based on earnings and stock prices, this further reinforced beliefs that financials were money making machines; however, according to Taleb's fundamental thinking " all banks were set up to blow up."

Folks with $ are witing to buy at bargain prices. Like me.

Then the bottom won't be in until all lose their money.

How many times must I say that money is not destroyed? Conservation of money principle. It just changed pockets. People lost money, others got it. It is total BS when government says wealth was lost. It was just transferred. Someone has all the money.