Dear Visa: WTF.

9/9/2008 10:54:57 AM

Dear every stock I own: WTF!

9/9/2008 1:23:29 PM

I am seriously getting ass raped today, another 10% down the drain, I actually bought more of a couple as well to average down and they just blew right on past those prices. I sure hope these long term plans of mine work out.

9/9/2008 2:45:33 PM

You guys think Visa will be a good stock to buy in soon?

9/9/2008 2:46:11 PM

I would say yes, which means you should wait till it drop another 15 points or so and then buy it

9/9/2008 2:48:44 PM

I am, when does the IPO end again on it?

9/9/2008 2:59:45 PM

Quote :

"Keep on going QSII"

9/9/2008 3:30:27 PM

lol - watching Lehman this morning

They announce they are in talks to sell their asset management units, and stock futures rebound...

When I first look at 9:33 its up 10%...

At 9:34 it has dropped to up 5%

At 9:38 it is in the red, down 1%

9/10/2008 9:42:11 AM

That is how all my stocks have been the past week, at open everything is up pretty nice and I start thinking alright hopefully a good day, then as I refresh every 10 minutes they keep going down, down, then into the red, then big into the red, then by end of the day I hate my life lol

9/10/2008 10:16:07 AM

WAMU looks like it's giving its swan song - will it going under be Sunday's news?

9/10/2008 10:59:49 AM

why is wamu going down?

i was thinking of getting in around $2

9/10/2008 6:51:48 PM

The short answer is they are losing money in every aspect of their business operations and have no means for raising capital.


They lost more than $3 billion in the second quarter, losing money in their residential mortgage, commercial mortgage, retailing banking, and credit card arms of their company.

Of course, lots of banks are currently losing money, but WAMU has two additional unique problems:

1) They are one of the most heavily leveraged banks, and are thus feeling the downturn more severely

2) They are incapible of raising money. In April 2008, when there stock was at $13, they raised $7 billion by selling stock to TPG, a private investment firm, at the then discounted price of $8.75. That deal included a clause where if WAMU has to raise more than $500 million in equity and the stock price is below $8.75, TPG must be compinsated for the difference. This, with the stock where it is, literally makes raising any money impossible, as the dillution caused by the massive stock issuing would drop the share price to $0 - i.e., the more shares they issue, the more the stock drops, so the more they have to issue to TPG, so the more it drops.

So basically when they run out of liquidity they are done. At this point their only hope is for a market turnaround miracle.

*Of course, it is entirely possible an investment at $2 could see 100% returns if you see a bounce to $4 and get out, but ultimately this stock is going to quickly reach $0, as best I can tell

[Edited on September 10, 2008 at 7:27 PM. Reason : .]

9/10/2008 7:23:56 PM

that sounds pretty bad, i'll check into it
but i guess putting some cash down at $0.50 or so wouldnt be such a bad bet

9/10/2008 8:00:35 PM

http://au.finance.yahoo.com/q/bc?s=AUDUSD=X&t=3m&l=on&z=m&q=l&c=

exchange now or hold out?? gah.

9/10/2008 8:35:39 PM

intc is looking like a good play

9/11/2008 9:52:45 AM

What happens when someone inaccurately says you've gone bankrupt.

http://www.slate.com/id/2199761/

9/11/2008 10:09:14 AM

Ooooh, that blows.

9/11/2008 10:20:38 AM

^^ i didn't see the article in question when it was re-released this week, but you'd think that the date would have tipped people off. or the suspicion that they read it before 5 or 6 years ago. now that people are realizing that its NOT fake, they are now claiming that it was an elaborate job done by hackers who manipulated google news to pick up a dead story.

i seriously think a lot of those united investors need to take up online poker.

9/11/2008 11:00:03 AM

Quote :

""The story was located in the archive section of the Web site of the Sun Sentinel in South Florida. The story contains information that would clearly lead a reader to the conclusion that it was related to events in 2002. In addition, the comments posted along with the story are dated 2002.""

http://www.sun-sentinel.com/business/sfl-flzunited0909sbsep09,0,7405794.story

9/11/2008 11:17:25 AM

yep, they need to turn their e-trade tickers off and go play poker

9/11/2008 11:25:39 AM

i may scoop up some INTC today

9/11/2008 11:27:58 AM

I recently upgraded to a Blackberry Curve for work. Can anyone recommend some type of real-time stock ticker software?

9/11/2008 3:09:35 PM

So uh...NSMG anyone?


http://www.wunderground.com/US/TX/238.html#HWW

Quote :

"Shoreline of Galveston Bay... 15 to 22 feet Life threatening inundation likely! All neighborhoods... and possibly entire coastal communities... will be inundated during the period of peak storm tide. Persons not heeding evacuation orders in single family one or two story homes will face certain death. Many residences of average construction directly on the coast will be destroyed. Widespread and devastating personal property damage is likely elsewhere. Vehicles left behind will likely be swept away. Numerous roads will be swamped... some may be washed away by the water. Entire flood prone coastal communities will be cutoff. Water levels may exceed 9 feet for more than a mile inland. Coastal residents in multi-story facilities risk being cutoff. Conditions will be worsened by battering waves. Such waves will exacerbate property damage... with massive destruction of homes... including those of block construction. Damage from beach erosion could take years to repair."

[Edited on September 11, 2008 at 8:28 PM. Reason : ]

9/11/2008 8:28:00 PM

I'm still hoping, one day left for it to do something

9/11/2008 8:32:08 PM

i got in at .02 was hoping for 0.08 but i wimped out at 0.03

good luck, errr, i mean hope Ike fizzles

9/11/2008 9:40:58 PM

That's crazy but honestly who owns airline stocks?

Buying airlines is the fastest way to become a millionaire.


1) Start with $2 million

2) Invest in an airline

3) Wait a few months

4) Sell stock for $1 million.

9/12/2008 8:10:35 PM

Haha. I actually made a nice return on delta shortly after 911.

9/12/2008 8:33:47 PM

So anyone have thoughts on what will happen with Lehman this weekend?

To this point it looks like the Fed is going to stay out of it - I wonder if everything else falls apart if that will hold.

There is talk of a plan whereby ten different major wall street firms would essentially donate $3 billion each to buy bad debt, to allow a JP Morgan or similar to come in and buy the remaining company without the bad debt. It is a strange situation, because the firms would be giving away the money and getting nothing out of it other than avoiding the failure of Lehman, which could be worse.

Source: http://www.cnbc.com/id/26691041

Don't have my fingers on the article, but I remember seeing that one group was predicting that if nobody does anything and Lehman goes under, then it could result in an immediate 1,000 point drop in the Dow.

9/13/2008 7:59:47 PM

Quote :

"So uh...NSMG anyone?"

i've thought about playing the volatility in NSMG...

buying it every time it dips to or below 2 cents, then selling it every time it gets up to 3 or 4 cents.

[Edited on September 14, 2008 at 12:19 AM. Reason : but only with like $100 or $200 at a time]

9/14/2008 12:19:15 AM

so how does one protect their investments tomorrow?

9/14/2008 9:21:36 PM

What happens tomorrow?

9/14/2008 9:29:02 PM

^
Lehman declaring bankrupcy shortly

BoA just announced it is buying Merrill Lynch for $29 a share, under pressure from Feds

AIG needs to raise $40,000,000,000 by tomorrow morning or facing a ratings downgrade which will likely end the company. AIG is asking the Federal Reserve for a loan, which seems to be their only hope. If the Fed gave it to them it would be unprecedented.

Lots of chaos tomorrow

[Edited on September 14, 2008 at 9:32 PM. Reason : .]

9/14/2008 9:31:47 PM

Fuck.

9/14/2008 9:33:25 PM

Tomorrow's headlines...

MARKET PWNT. STAY HOME.

9/14/2008 9:49:36 PM

exactly my point. i have a bunch of money in my 401k that I can move around freely, between a variety of funds, as well as a money market and savings bonds, and GE common stock. of course any move I make tomorrow takes place at the end of the day tomorrow, so I may not screw with it. but I'd at least like to move it somewhere "safe" for the short term. maybe an international fund?

9/14/2008 9:50:48 PM

Do you really want to move it around after the huge hit it will take tomorrow?

9/14/2008 10:03:09 PM

gonna be a dark monday

9/14/2008 10:03:53 PM

it will be dark but not as bad as you may think
with lehman's bankrupcy there are some buyouts so that is mixed news

9/14/2008 10:14:27 PM

Quick, short everything!

9/14/2008 10:14:43 PM

David, thats kinda my question. since I can't immediatly move anything, is it worth it to move anything at days end tomorrow.

I don't directly have stock in any of the companies in question but I'm sure my funds own significant holdings of financials etc... so really my risk is minimized already

9/14/2008 10:22:08 PM

by the way who here shorts stocks?

ive never done it but i think the we missed the party on shorting

9/14/2008 10:51:01 PM

I don't, but wish I did.

9/14/2008 11:00:56 PM

ouch

9/14/2008 11:03:36 PM

Just means tomorrow will be a good day to buy and make some quick trades. People will over react and things will cliff dive and then eventually bump back up, if you can hit the bottom lots of people will make lots of money tomorrow

9/14/2008 11:19:12 PM

Unfortunately all my money is currently in the market.

9/15/2008 1:00:46 AM

http://money.cnn.com/2008/09/14/news/companies/lehman_brothers/index.htm

Quote :

"Lehman says it will file for bankruptcy"

9/15/2008 2:51:39 AM

Lehman's done (Ch. 11)
BofA takes over Merrill
AIG up next

It's beautiful up here in NY

9/15/2008 6:20:34 AM

Looks in premarket some of my stocks are taking a real beating, namely energy stocks, while others are headed up, either way I have a feeling Im gonna come back from out of town this afternoon to find myself pretty bad in the red

9/15/2008 8:31:57 AM

yeah, looks like it will be bad

9/15/2008 9:07:41 AM

My portfolio is taking a nosedive.

On the plus side I'm still in the green on V. I wouldn't feel bad about selling some of that (even with today's drop) and grabbing up some stocks for cheap. GE is now down below $25.

9/15/2008 9:38:14 AM