Yeah......people been sayin' "perfect time to buy" every month for about a year now. Sooner or later someone will be right, huh?
The DOW is about to be down 1,000 points at the end of the day
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Yeah......people been sayin' "perfect time to buy" every month for about a year now. Sooner or later someone will be right, huh?
A total crock of shit. This government is bringing everyone and everything down. It's like the people in the HOR don't care about the American people and it pisses me off.
kneifl
kneifl
wait till the shorts come back wednesday? (isn't that the day they can start shorting again?)
i'm taking a bath but i guess i'm not the only one.
not prepared to jump in at all, just hoping this recovers in a few years.
i'm taking a bath but i guess i'm not the only one.
not prepared to jump in at all, just hoping this recovers in a few years.
o`reilly is having a cow on fox....he has 2 puppets on there trying like hell to scare the average joe on the street into backing the bailout....no opposing viewpoint...
he`s mentioned several times how "he`s been hurt" by the stock market plunge......
i hope they hold off on a deal for awhile...i`d love to see this moron take a bath...
reprehensible schmuck...
he`s mentioned several times how "he`s been hurt" by the stock market plunge......
i hope they hold off on a deal for awhile...i`d love to see this moron take a bath...
reprehensible schmuck...
dawgball... hear anything about wachovia?
I bought today at 1.6... dunno if it was a good buy or not... hoping it will jump tomorrow so i can sell.
give me a heads up... after hours was good so
I bought today at 1.6... dunno if it was a good buy or not... hoping it will jump tomorrow so i can sell.
give me a heads up... after hours was good so
- Feb 12, 2000
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In my opinion, these deals are coin flips. If I were you, I would have limit sell orders in place at certain percentage levels. Don't get greedy.
Market will be going up early....but not sure how long that will last throughout the day.
:0corn
:0corn
- Feb 12, 2000
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http://finance.yahoo.com/q?s=WB
At 2.60, you are looking at a 60%+ gain in one day. Not sure how many shares you bought, but you could get sell about 60% of your original shares and have a free-roll from here.
- Feb 12, 2000
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And if that wasn't enough, how about a double. Pushing 3.20 now. I would certainly sell AT LEAST half of my position to play with the house money. I would probably sell more to make sure that it is a profitable trade in this market.
I set a trigger this morning... ended up selling all my shares at 3.15
I might set another trigger if it gets below 2.25... but for now I think I might lay low. but I made some change today!!!
only thing is... I was a little scared and only bought 600 shares yesterday. Greed can get you in trouble though.
Anything else out there you like? AIG is having a pretty good day, but theres no telling what will happen this afternoon
I also think regions would be a good long term buy at its price right now.
Anything else out there you like? AIG is having a pretty good day, but theres no telling what will happen this afternoon
I also think regions would be a good long term buy at its price right now.
Trampled leaders say all is well
12:01a ET September 30, 2008 (MarketWatch)
NEW YORK (MarketWatch) -- Maybe you missed some financial news while trying to determine whether Tina Fey would make a better vice presidential candidate.
To catch you up: Congress is rethinking a plan to form a $700 billion company to buy mortgage securities, Citigroup Inc. is buying the nation's biggest banks, a private equity firm leads the buyout of one of the industry's most respected asset management companies, Morgan Stanley is selling a 21% stake to a Japanese bank and central banks around the world are pumping hundreds of billions into the banking system.
And oh yeah, the Dow Jones Industrial Average tumbled 777 points, or about 7%.
Just another day on Wall Street. Sure it seems like things are crashing down, but no, the experts say the financial picture is looking up.
The government and participants insist that Wachovia Corp. didn't fail, but Citigroup is paying just $2.1 billion for the franchise when J.P. Morgan Chase & Co. agreed to pay $1.9 billion for the Washington Mutual Inc., a bank with half the assets and a third of the employees. The Federal Deposit Insurance Corp. is also backstopping losses on Wachovia's mortgage portfolio.
"Our core businesses continue to perform well," Wachovia Chief Executive Robert Steel said.
"Wachovia did not fail; rather, it is to be acquired," FDIC said.
OK. If it wasn't a failure, then what was it? A merger of equals?
The FDIC under Sheila Bair is beginning to remind me of Chip Diller, the student at fictitious Faber College in the movie Animal House. In a memorable scene, Kevin Bacon's Diller shouts "Remain calm. All is well," before being trampled by a stampede.
If Diller was running the FDIC he might say National City Corp. looks like it may be the next bank not to fail and be sold at a fire-sale discount with the U.S. government picking up the bad debt on its books.
Funny how these banks seem to be losing value when help in the form of Troubled Asset Relief Program, or TARP, was going to save the financial system. TARP, under the discretion of the Treasury Department, was going to buy troubled securities from banks, giving the banks cash to lend and breaking the log jam in the credit markets.
Remember how the markets rallied when the government began discussing the bailout?
Henry Paulson, the Treasury Secretary, said "I am confident this legislation gives us the flexibility to unclog our financial markets" by "purchasing troubled assets broadly, insuring troubled assets, or averting the potential systemic risk from the disorderly failure of a large financial institution."
Five days later, the bill is in limbo if not completely dead.
It's hard to believe, considering it never explained how securities would be valued, whether the government would get an ownership stake in the banks that participate. It didn't spell out any meaningful compensation reform.
Instead, the bill did give the Securities and Exchange Commission the power to suspend mark-to-market accounting. This is like giving Paula Abdul ultimate power when deciding American Idol contests. Everyone's a winner. It's all good -- from Alt-A mortgages in vacant suburbs of Las Vegas to no-money-down financing on Miami Beach condos.
Hey, why not be positive? In Europe, the Netherlands, Belgium and Luxembourg infused Fortis NV with $16 billion after a run on the bank, and the government took over the U.K.'s Bradford & Bingsley. Central banks around the world are calmly flooding the markets with $620 billion in new swap lines and have the situation under control.
"Central banks will continue to work together closely and are prepared to take appropriate steps as needed to address funding pressures," the Federal Reserve said Monday.
Until the banks lend to each other, there's plenty of cash to be had at low rates from Uncle Sam. So why are these markets tumbling?
Last week, a colleague and I debated the importance of the stock market in the current environment.
The credit market was more important, he argued[/B]. The fact that banks aren't lending to banks was far more problematic than the deep slide U.S. stocks were seeing. After all, without lending, companies can't hire, expand and pay the bills. Mortgages and credit cards are harder to come by.
On a fundamental level that's true. A capital freeze is far more damaging than company market values. But America can't look behind the scenes of their local bank branch and see that crippling effect. What we see is the stock market as measured by the Dow Jones Industrial Average and the S&P 500 . It's our boxscore. Nearly 45 million Americans invest through 401(k) plans and half of the nation's households own stock.
If our homes are worth a fraction of what we paid for them and our portfolios say we can't retire until we're 85, then what does it matter that Wachovia didn't "fail," the central banks are on top of it, someone bought Morgan Stanley at a 50% discount or Neuberger Berman for about 20% of its worth six -to 12-months ago, or that a bailout proposal that actually got worse after five days of talks might be revived?
All is well? Look out. You might just get trampled.
12:01a ET September 30, 2008 (MarketWatch)
NEW YORK (MarketWatch) -- Maybe you missed some financial news while trying to determine whether Tina Fey would make a better vice presidential candidate.
To catch you up: Congress is rethinking a plan to form a $700 billion company to buy mortgage securities, Citigroup Inc. is buying the nation's biggest banks, a private equity firm leads the buyout of one of the industry's most respected asset management companies, Morgan Stanley is selling a 21% stake to a Japanese bank and central banks around the world are pumping hundreds of billions into the banking system.
And oh yeah, the Dow Jones Industrial Average tumbled 777 points, or about 7%.
Just another day on Wall Street. Sure it seems like things are crashing down, but no, the experts say the financial picture is looking up.
The government and participants insist that Wachovia Corp. didn't fail, but Citigroup is paying just $2.1 billion for the franchise when J.P. Morgan Chase & Co. agreed to pay $1.9 billion for the Washington Mutual Inc., a bank with half the assets and a third of the employees. The Federal Deposit Insurance Corp. is also backstopping losses on Wachovia's mortgage portfolio.
"Our core businesses continue to perform well," Wachovia Chief Executive Robert Steel said.
"Wachovia did not fail; rather, it is to be acquired," FDIC said.
OK. If it wasn't a failure, then what was it? A merger of equals?
The FDIC under Sheila Bair is beginning to remind me of Chip Diller, the student at fictitious Faber College in the movie Animal House. In a memorable scene, Kevin Bacon's Diller shouts "Remain calm. All is well," before being trampled by a stampede.
If Diller was running the FDIC he might say National City Corp. looks like it may be the next bank not to fail and be sold at a fire-sale discount with the U.S. government picking up the bad debt on its books.
Funny how these banks seem to be losing value when help in the form of Troubled Asset Relief Program, or TARP, was going to save the financial system. TARP, under the discretion of the Treasury Department, was going to buy troubled securities from banks, giving the banks cash to lend and breaking the log jam in the credit markets.
Remember how the markets rallied when the government began discussing the bailout?
Henry Paulson, the Treasury Secretary, said "I am confident this legislation gives us the flexibility to unclog our financial markets" by "purchasing troubled assets broadly, insuring troubled assets, or averting the potential systemic risk from the disorderly failure of a large financial institution."
Five days later, the bill is in limbo if not completely dead.
It's hard to believe, considering it never explained how securities would be valued, whether the government would get an ownership stake in the banks that participate. It didn't spell out any meaningful compensation reform.
Instead, the bill did give the Securities and Exchange Commission the power to suspend mark-to-market accounting. This is like giving Paula Abdul ultimate power when deciding American Idol contests. Everyone's a winner. It's all good -- from Alt-A mortgages in vacant suburbs of Las Vegas to no-money-down financing on Miami Beach condos.
Hey, why not be positive? In Europe, the Netherlands, Belgium and Luxembourg infused Fortis NV with $16 billion after a run on the bank, and the government took over the U.K.'s Bradford & Bingsley. Central banks around the world are calmly flooding the markets with $620 billion in new swap lines and have the situation under control.
"Central banks will continue to work together closely and are prepared to take appropriate steps as needed to address funding pressures," the Federal Reserve said Monday.
Until the banks lend to each other, there's plenty of cash to be had at low rates from Uncle Sam. So why are these markets tumbling?
Last week, a colleague and I debated the importance of the stock market in the current environment.
The credit market was more important, he argued[/B]. The fact that banks aren't lending to banks was far more problematic than the deep slide U.S. stocks were seeing. After all, without lending, companies can't hire, expand and pay the bills. Mortgages and credit cards are harder to come by.
On a fundamental level that's true. A capital freeze is far more damaging than company market values. But America can't look behind the scenes of their local bank branch and see that crippling effect. What we see is the stock market as measured by the Dow Jones Industrial Average and the S&P 500 . It's our boxscore. Nearly 45 million Americans invest through 401(k) plans and half of the nation's households own stock.
If our homes are worth a fraction of what we paid for them and our portfolios say we can't retire until we're 85, then what does it matter that Wachovia didn't "fail," the central banks are on top of it, someone bought Morgan Stanley at a 50% discount or Neuberger Berman for about 20% of its worth six -to 12-months ago, or that a bailout proposal that actually got worse after five days of talks might be revived?
All is well? Look out. You might just get trampled.
I always liked this approach too.
You can't get too upset regardless of outcome per free ride.
You have no future risk--but profits can continue to run and you'll have at chance of large gains in future.
I agree fully... but since I didn't buy that many shares, I figured I would dump it all...
I wonder what WB has in store for its future?
Up today about 350ish...
Very bad news for bailout supporters.
With today's + in the markets, I dont see them getting the votes for even an further amended bill anytime soon.
Very bad news for bailout supporters.
With today's + in the markets, I dont see them getting the votes for even an further amended bill anytime soon.
We can only hope some of those highly educated in the banking business took a header off a bridge.
Wachovia might have another great day tomorrow... i might hop on early tomorrow and go for another ride... I plan on holding for a little bit longer this time.
Wachovia to Purchase Lehman Holdings from Evergreen Money Market Funds
3:40p ET September 30, 2008 (PR NewsWire)
Evergreen Investments today announced plans by the firm's parent company, Wachovia Corporation, to purchase the Lehman debt held in Evergreen Money Market Fund, Evergreen Institutional Money Market Fund, and Evergreen Prime Cash Management Fund. Evergreen anticipates the purchase would be complete on or about October 1, 2008. As of September 15, 2008, the Funds had combined total net assets of $29 billion and $494 million in total Lehman credit exposure.
Earlier this month, Wachovia announced that it had entered into support agreements with Evergreen Money Market Fund, Evergreen Institutional Money Market Fund, and Evergreen Prime Cash Management Fund in order to support the value of Lehman credit held in the Funds, and to prevent a decrease in the net asset value (NAV) of those Funds due to the Lehman debt. Wachovia has now decided to purchase the Lehman debt holdings out of the Funds.
In addition, Evergreen confirmed that it had submitted the necessary documentation and paid the required fee to participate in the Money Market Guarantee Program established by the U.S. Treasury Department. According to information published by the Treasury, the program will guarantee the share price of any publicly offered eligible money market mutual fund that applies for and pays a fee to participate in the program. Money market mutual funds that are regulated under Rule 2a-7 of the Investment Company Act of 1940, that maintain a stable share price of $1.00, and that are publicly offered and registered with the Securities and Exchange Commission are eligible to participate in the program. The Guarantee Program provides coverage to shareholders for amounts held in participating money market funds as of the close of business on September 19, 2008. For more details about the Guarantee Program, please refer to the information posted on the U.S. Department of Treasury website (http://treas.gov/press/releases/hp1163.htm ).
About Evergreen Investments
Evergreen Investments is the brand name under which Wachovia Corporation (NYSE: WB) conducts its investment management business. Wachovia Global Asset Management is the brand name under which Evergreen Investments conducts sales and distribution business outside of the United States. Evergreen serves more than four million individual and institutional investors through a broad range of investment products. Led by 300 investment professionals, Evergreen strives to meet client investment objectives through disciplined, team-based asset management. Evergreen manages more than $245 billion in assets (as of June 30, 2008). Please visit EvergreenInvestments.com for more information about Evergreen Investments.
SOURCE Evergreen Investments
Wachovia to Purchase Lehman Holdings from Evergreen Money Market Funds
3:40p ET September 30, 2008 (PR NewsWire)
Evergreen Investments today announced plans by the firm's parent company, Wachovia Corporation, to purchase the Lehman debt held in Evergreen Money Market Fund, Evergreen Institutional Money Market Fund, and Evergreen Prime Cash Management Fund. Evergreen anticipates the purchase would be complete on or about October 1, 2008. As of September 15, 2008, the Funds had combined total net assets of $29 billion and $494 million in total Lehman credit exposure.
Earlier this month, Wachovia announced that it had entered into support agreements with Evergreen Money Market Fund, Evergreen Institutional Money Market Fund, and Evergreen Prime Cash Management Fund in order to support the value of Lehman credit held in the Funds, and to prevent a decrease in the net asset value (NAV) of those Funds due to the Lehman debt. Wachovia has now decided to purchase the Lehman debt holdings out of the Funds.
In addition, Evergreen confirmed that it had submitted the necessary documentation and paid the required fee to participate in the Money Market Guarantee Program established by the U.S. Treasury Department. According to information published by the Treasury, the program will guarantee the share price of any publicly offered eligible money market mutual fund that applies for and pays a fee to participate in the program. Money market mutual funds that are regulated under Rule 2a-7 of the Investment Company Act of 1940, that maintain a stable share price of $1.00, and that are publicly offered and registered with the Securities and Exchange Commission are eligible to participate in the program. The Guarantee Program provides coverage to shareholders for amounts held in participating money market funds as of the close of business on September 19, 2008. For more details about the Guarantee Program, please refer to the information posted on the U.S. Department of Treasury website (http://treas.gov/press/releases/hp1163.htm ).
About Evergreen Investments
Evergreen Investments is the brand name under which Wachovia Corporation (NYSE: WB) conducts its investment management business. Wachovia Global Asset Management is the brand name under which Evergreen Investments conducts sales and distribution business outside of the United States. Evergreen serves more than four million individual and institutional investors through a broad range of investment products. Led by 300 investment professionals, Evergreen strives to meet client investment objectives through disciplined, team-based asset management. Evergreen manages more than $245 billion in assets (as of June 30, 2008). Please visit EvergreenInvestments.com for more information about Evergreen Investments.
SOURCE Evergreen Investments
- Feb 12, 2000
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Not sure what will happen, but I think you should take your winnings on this timing play and look elsewhere. If you are getting this from a "news" story, then it will be harder to get in early to ride the move.
Just an opinion but tread lightly and don't give yesterday's gains away on a rush.
Just an opinion but tread lightly and don't give yesterday's gains away on a rush.
