Stock Market Thread - ALL COMBINED - Page 3

MadJack · #61 12-12-2008, 08:10 AM

F and GM coming back nicely. steady climb up. LEA too.

John Bogle Says President Will Intervene to Save GM (Update1)

http://www.bloomberg.com/apps/news?p...yGE&refer=home
By Betty Liu and Eric Martin

Dec. 12 (Bloomberg) -- John Bogle, who created the $80.6 billion Vanguard 500 Index Fund in 1976, said the White House will probably intervene to save General Motors Corp. from bankruptcy after the Senate rejected a rescue yesterday.

“The president is probably going to come to their rescue, because the Congress has really punted the ball over to the White House,” Bogle, 79, said in an interview with Bloomberg Television from Valley Forge, Pennsylvania. “That will give them temporary stop-gap aid. I do not think General Motors is going to go out of business.”

Stocks tumbled around the world and the dollar slumped after the Senate voted against the $14 billion plan, threatening the survival of GM and Chrysler LLC. Treasuries rallied and yields fell to record lows.

Standard & Poor’s 500 Index futures expiring in March dropped 3.9 percent to 840.20 at 8:34 a.m. in New York. The MSCI World Index of 23 developed stock markets slumped 1.6 percent. GM shares dropped 30 percent to $2.90.

Bogle, who retired from Vanguard Group Inc. in 1999, was named one of the industry’s four “Giants of the 20th Century” by Fortune magazine that year.

More lawsuits are likely to be filed against financial firms a day after two FBI agents arrested Bernard Madoff at his Manhattan apartment, Bogle said. The founder of Bernard L. Madoff Investment Securities LLC and former head of the Securities Industry Association’s trading committee confessed to employees this week that his investment advisory business was “a giant Ponzi scheme” that cost clients $50 billion.

“There are going to be some criminal indictments brought against the investment banking system,” Bogle said. “It is deeply discouraging to see our financial system overwhelmed by greed. Speculation is in the driver’s seat of our stock market, and investing is in the back seat.”

MadJack · #62 12-12-2008, 08:12 AM

Quote:

Originally Posted by vinnie

Bush going to give them the money & he will be a hero ne will make raymond , weasle & hog proud

MadJack · #63 12-12-2008, 08:14 AM

i'm thinking about buying the autos premarket

freelancc · #64 12-12-2008, 08:14 AM

Madoff

MadJack · #65 12-12-2008, 08:15 AM

Quote:

Originally Posted by MadJack

i'm thinking about buying the autos premarket

it would be all a free ride after our big gains over the last several weeks, vinnie. could maybe make a huge killing.

could get crushed too.

watching closely

MadJack · #66 12-12-2008, 08:16 AM

Quote:

Originally Posted by freelancc

Madoff

just watching. they are dropping back down again.

dawgball · #67 12-12-2008, 08:18 AM

I think it's pretty smart that Congress is putting this on Bush. If it fails, then that's just one more thing to add to the Bush bashing. If it works, then everyone will forget it.

vinnie · #68 12-12-2008, 08:24 AM

GEROGIE

GORGIE

GEORGIE

MadJack · #69 12-12-2008, 08:27 AM

F and GM tanking again just before the bell.

if nothing else, this is interesting.

vinnie · #70 12-12-2008, 08:29 AM

Quote:

Originally Posted by MadJack

F and GM tanking again just before the bell.

if nothing else, this is interesting.

MAYBE I NEED TO HAVE SOME SWEET TEA

vinnie · #71 12-12-2008, 08:31 AM

LEA $1.32

dawgball · #72 12-12-2008, 08:32 AM

Sold EXM @ 5.90. Probably a bad move overall.

vinnie · #73 12-12-2008, 08:34 AM

Quote:

Originally Posted by dawgball

Sold EXM @ 5.90. Probably a bad move overall.

NOT SELLING SHIT HERE

I WILL BE LOOKING TO BUY

MadJack · #74 12-12-2008, 08:37 AM

bought 5000 F at $2.60

MadJack · #75 12-12-2008, 08:47 AM

set stop limit at $2.65

come on, BUSH!

vinnie · #76 12-12-2008, 08:51 AM

BOUGHT 15,000 NOBL @ .40 TRAP MONEY COMING

dawgball · #77 12-12-2008, 09:06 AM

Quote:

Originally Posted by dawgball

Sold EXM @ 5.90. Probably a bad move overall.

Well, that was a genius move....

MadJack · #78 12-12-2008, 09:11 AM

shit, my F sold off for an $80 profit after comm.

i'll buy back cheaper if i get a chance. damn, that was an exciting freeroll.

MadJack · #79 12-12-2008, 09:14 AM

Quote:

Originally Posted by MadJack

shit, my F sold off for an $80 profit after comm.

i'll buy back cheaper if i get a chance. damn, that was an exciting freeroll.

a $230 profit. big deal. i had some nice visions

dawgball · #80 12-12-2008, 09:16 AM

I'll say this: Gettlefinger just impressed me with his presentation.

On to the Q/A...

dawgball · #81 12-12-2008, 09:27 AM

Slight retraction: Gettlefinger just lost me with the OVERstatement of how important the UAW is today. Up to that point, I like what he is saying.

MadJack · #82 12-12-2008, 09:38 AM

did he say that the union workers are getting a raise january 1st?

WTF is THAT??!!

MadJack · #83 12-12-2008, 09:44 AM

bought 5000 LEA at $1.83

MadJack · #84 12-12-2008, 09:47 AM

Quote:

Originally Posted by MadJack

bought 5000 LEA at $1.83

vinnie · #85 12-12-2008, 10:08 AM

Quote:

Originally Posted by MadJack

it goes over $2.50 with tarp

but why did u wait so long

MadJack · #86 12-12-2008, 10:14 AM

Quote:

Originally Posted by vinnie

it goes over $2.50 with tarp

but why did u wait so long

i have the feeling that it was already priced in, assumed by the market that they were getting the bailout. i don't think F goes up much more than to $3.25 if they get it. just my guess.

yeah, i'm thinking $2.50. i might buy more on the way up. i play too causious maybe

vinnie · #87 12-12-2008, 10:22 AM

Quote:

Originally Posted by MadJack

i have the feeling that it was already priced in, assumed by the market that they were getting the bailout. i don't think F goes up much more than to $3.25 if they get it. just my guess.

yeah, i'm thinking $2.50. i might buy more on the way up. i play too causious maybe

yea well I bought NOBE I could have bought more LEA too. Bottom like is WE ARE MAKING NICE MONEY overall