Tuesday, September 9, 2008

BREAKDOWN of the DAY! ~ Ambac Financial Group, Inc. (Public, NYSE:ABK)

hmmmm... breakdown of the day??

-1.82 (-20.63%)

The true Breakdown of the Day =
the Entire Stock Market!

p.s. today was SHIT, we lost our ass, and the world is FLAT! ... Buy the blood?


Cliff said...

Cleveland-Cliffs Inc (NYSE: CLF), which will be renamed Cliffs Natural Resources in the coming months, today announced that its Board of Directors has authorized a scheduled dividend payment on the Company’s 3.25% redeemable cumulative convertible perpetual preferred stock.

A cash payment of $8.125 per share will be payable on Oct. 15, 2008, to preferred stock shareholders of record on Oct. 1, 2008.

jd said...

HONG KONG (MarketWatch) -- OPEC members have agreed to roll back oil production to quotas agreed in September 2007, a level that will cut output by about 500,000 barrels a day. An OPEC statement issued at the conclusion of its meeting Wednesday said the organization agreed to produce 28.8 million barrels a day. An Associated Press report cited OPEC President Chakib Khelil as saying the quota meant that member countries agreed cut back production by 530,000 barrels a per day.

Jim Collins said...

I made a effing killing today. Short all resource stocks. Short financials also. WM, LEH are dead, drop-to-zero.
Big crash coming soon; many stocks seeing new 52 week lows. Short, short, short, use stops of course.

BUY ON THE DIP said...

PEP calls ... The coMmodity meltdown savior!

BUY ON THE DIP said...

congrats jim,

What stocks are you short?

we sold our JRCC, ENER puts way too soon.

Jim Collins said...

I bought puts on ENER, BHI, ABX, FWLT and DE at the open. I was up 1,250 on the day. I just go done putting in my stops for tomorrow (fixed stop losses, I expect them to drop a lot more).
Also placed an order for 3 sept 3.00 puts on WM for .35 each, that was all the cash I had left in my account after my put splurge, LOL.
I saw a shitload of Engulfing Bears on my Prophet.net charts last night and went nuts, LOL. The EB on ENER was like, HOLY CRAP. That was a no-brainer if you know candlesticks.
Thanks for the props.

Jim Collins said...

"we sold our JRCC, ENER puts way too soon." I'm not seeing how you would have gotten stopped out of those trades.

Jim Collins said...

"we sold our JRCC, ENER puts way too soon." Well you can always reenter them there no law against that I and I see nothing to indicate an end to the cratering.
I entered my ABX trade today after watching it drop for several days and I "jumped on the train"

Jim Collins said...

Yeah JRCC looks like a great short, of course tomorrow CERN fires up the Large Hadron Collider causing the End of the World and all this will be rather moot.


Anonymous said...

How far do you see ENER going down?

jd said...

Energy rebounding on OPEC supply cut, DIG making back lost ground, as I expected, GOOD!

Anonymous said...

what is your outlook for DIG? Do you buy into the $149/barrel by the end of the year?

sara said...

omg,, today was a good day ,, i should of got in your calls sept 9,,

good call .. botd

clf, mee , .. damn ,

jd said...

Today was good here too, took the advantage of the bank runups to buy puts. already making plenty on them.

Hopefully theres no Bs rally tomorrow morning to erase some of it.