SHORTS ON HIGH VOLUME

[Alechko]

what do you think about ETFC?

negative earnings during 4 last quarters
P/S, P/B – OK
D/E is 5.63
Huge negative return on equity
08/13/08 KANNER FREDERICK WILKINSON
Purchase 25,000 $3.05 76,150.00
/director/
Short Percent of Float 24.88 %
It is very risky investment, but may go up one day

[Dima1234]

Monday morning will buy more...

unless they'll suspend its trading after the news

[Alechko]

unless they'll suspend its trading after the news

The short interest is too high, and I think there is a problem with hedge founds, if there is no sellers they can't cover their arses.
Nothing happened yet..

This summer, Congress passed a plan to provide unlimited government loans to Fannie and Freddie and to purchase stock in the two companies if needed.
They can not step-in and take over during the weekend…it’s way too serious

[Dima1234]

They can not step-in and take over during the weekend…it’s way too serious

Bernanke's style: came in over the weekend and took care of Bear Sterns. We'll find out Monday.

[Alechko]

Bernanke's style: came in over the weekend and took care of Bear Sterns. We'll find out Monday.

at least they got $10 per share

[Dima1234]

at least they got $10 per share

I think all they got was two bucks...

[Alechko]

I think all they got was two bucks...

On March 17, 2008, JP Morgan Chase offered to acquire Bear Stearns at a price of $236 million or $2 per share. On March 24, 2008 that offer was raised to $1.1 billion or $10 per share in an effort to pacify angry shareholders. JPMorgan Chase completed its acquisition of Bear Stearns on May 30, 2008 at the renegotiated price of $10 per share
http://en.wikipedia.org/wiki/Bear_Stearns

[Dima1234]

I see. What do you think market will be like next week?

[Alechko]

I see. What do you think market will be like next week?

Honestly I don’t know. If problems with fre/fnm are over at least for Monday-Tuesday will see recovery. I think the market will be tested at least another 2-3 times.
Technically it should go up – look at stock charts. All depend on reports
Sep 8 Consumer Credit
Sep 9 Pending Home Sales
Sep 9 Wholesale Inventories
Sep 10 Crude Inventories
Sep 11 Export Prices ex-ag.
Sep 11 Import Prices ex-oil
Sep 11 Initial Claims

[Alechko]

If something going to happened with FRE/FNM before elections, republicans are fucked up big time /IMHO/