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last tri in 83
Jul 3, 08 16:57
Post #1 of 41 (654 views)
Stock Talk
Can't Post
Indymac Bank (IMB) formerly a high flyer in the mortgage field is now trading at about $0.70. This company was at $45 in late 2006. Big cash problems now, a run on the bank cost them $100 mil., govt. bailout talk, and well, the mortgage market.
Worth a few risk dollars?
_____________________________________________
“I never exaggerate. I just remember big.”—Chi Chi Rodriguez
Tim
peter826
Jul 3, 08 17:15
Post #2 of 41 (645 views)
Re: Stock Talk [last tri in 83]
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Why not? I've been eyeing up Ford and GM....I keep telling myself not to do it, but...
Haim
Jul 3, 08 17:36
Post #3 of 41 (639 views)
Re: Stock Talk [last tri in 83]
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"Worth a few risk dollars?"
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Don't think the government won't let regional banks fail...they will. A few very savvy investors once thought Bear Stearns was too big to fail too. They were only partly right.
It's a lottery ticket. Do you feel lucky?
Haim
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"Sometimes you need to think INSIDE the box!" -- ME
(This post was
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by Haim on Jul 3, 08 17:37)
Jeremy K
Jul 3, 08 18:12
Post #4 of 41 (625 views)
Re: Stock Talk [last tri in 83]
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If you feel like you absolutely have to invest in financials right now...buy the
XLF.
I wouldn't put $5 towards IMB.
JHo
Jul 3, 08 20:45
Post #5 of 41 (614 views)
Re: Stock Talk [Jeremy K]
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No sign of a bottom yet. It's UGLY.
Image courtesy
http://www.etfdigest.com
. I read Dave's daily almost daily. <g>
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One cannot enlighten the unconscious.
Jeremy K
Jul 3, 08 20:53
Post #6 of 41 (610 views)
Re: Stock Talk [JHo]
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But it will bottom. Buy some Jan 09 or 10 calls and some Aug 08 puts.
lunchbox
Jul 3, 08 21:13
Post #7 of 41 (605 views)
Re: Stock Talk [peter826]
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Why not? I've been eyeing up Ford and GM....I keep telling myself not to do it, but...
You too, huh? 100 shares of GM...
It really is a straight gamble at this point.
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If I don't, who will?
Bone Idol
Jul 3, 08 21:17
Post #8 of 41 (603 views)
Re: Stock Talk [last tri in 83]
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Indymac Bank (IMB) formerly a high flyer in the mortgage field is now trading at about $0.70.
This means its worth about $0.70.
In Reply To
This company was at $45 in late 2006.
This means nothing.
In Reply To
Worth a few risk dollars?
Sure. Live dangerously. Make it $100.
peter826
Jul 4, 08 14:07
Post #9 of 41 (576 views)
Re: Stock Talk [lunchbox]
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You too, huh? 100 shares of GM...
It really is a straight gamble at this point.
I'm more inclined to go with Ford. As I understand it, they can't keep the Focus on the lots...sales are through the roof, as are sales of the hybrid Escape. I think they're in a somewhat better position to react to the high gas prices than GM is. They've sold off a few divisions (jag? land rover?) to Tata motors, IIRC...giving them an infusion of cash.
Either is a total gamble.....
Mito Chondria
Jul 6, 08 11:38
Post #10 of 41 (524 views)
Re: Stock Talk [last tri in 83]
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I think you'll be better off buying put options on some companies that depend on the wannabe affluent US consumer. But I'd wait for a little rally first and then buy the puts w/ expiration in late fall.
I played Ethan Allen puts a while back but now wait for a couple up days before jumping back in on the short side. There are several other interesting plays and if you are uncomfortable with the time expiration of options you might want to look into some precious metals pennystocks. I've had good sucess with Pelangio while it was a pennystock and still hold on to it. Piedmont Mining is another one I think has the potential to run up severalfold from current prices.
It's all about risk-reward...
---------------------------------------------------------
A must see Video
:::
A House of Cards
:::
CIA Blowback
:::
The R3VOLUTION will not be televised
:::
US National Debt Clock
"Mito Chondria is young...but wise when it comes to this stuff...." Lar Dog
spot
Jul 6, 08 12:17
Post #11 of 41 (517 views)
Re: Stock Talk [peter826]
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Yep....I bought a couple hundred shares of Ford a while back at $7 a share...haven't checked it in a while, but long-term, it has nowhere to go but up. I might also consider throwing some dollars at GM just to diversify the portfolio in case my Ford bet doesn't pay off, plus I don't think that the US Gov't will ever let GM go under....way too much impact on the national economy (witness the Chrysler bailout in the early 1980s).
Spot
Cervelo / Kuota Mafia Member
"Mine goes to 11...."
Jeremy K
Jul 6, 08 14:17
Post #12 of 41 (509 views)
Re: Stock Talk [spot]
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Spot,
because I am a master of the obvious I will let you in on a secret. Being long on two potentially failing American automakers does not make you diversified.
I am long GM and TM, btw.
spot
Jul 6, 08 14:44
Post #13 of 41 (504 views)
Re: Stock Talk [Jeremy K]
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Yeah, I know, I know.... :) Its diversified in a major American automaker sort of way....
Spot
Cervelo / Kuota Mafia Member
"Mine goes to 11...."
last tri in 83
Jul 6, 08 19:18
Post #14 of 41 (488 views)
Re: Stock Talk [Mito Chondria]
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I looked and looked at B of A in about 1987 but never pulled the trigger at about $7/share. They were in sad shape and were thought to be going under. Much like Indymac now. I think might throw a few dollars at them.
_____________________________________________
“I never exaggerate. I just remember big.”—Chi Chi Rodriguez
Tim
Raptor
Jul 6, 08 21:41
Post #15 of 41 (474 views)
Re: Stock Talk [last tri in 83]
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Indymac Bank (IMB) ...
Must be the building karma. IndyMac Bank occupies the same building that Countrywide used to occupy as their headquarters in Pasadena.
Jeremy K
Jul 7, 08 20:27
Post #16 of 41 (425 views)
Re: Stock Talk [last tri in 83]
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Hopefully you didn't purchase any IMB on the false strength today. Down huuuge after hours with some bleak news.
last tri in 83
Jul 7, 08 20:59
Post #17 of 41 (420 views)
Re: Stock Talk [Jeremy K]
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naw, still observing.
_____________________________________________
“I never exaggerate. I just remember big.”—Chi Chi Rodriguez
Tim
LorenzoP
Jul 7, 08 21:50
Post #18 of 41 (412 views)
Re: Stock Talk [last tri in 83]
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if BCON or AVNX go green with volume tomorrow (7/8) go ahead and hold for 1-5 days.
Mito Chondria
Jul 8, 08 9:42
Post #19 of 41 (387 views)
Re: Stock Talk [last tri in 83]
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http://investors.indymacbank.com/...72421&highlight=
---------------------------------------------------------
A must see Video
:::
A House of Cards
:::
CIA Blowback
:::
The R3VOLUTION will not be televised
:::
US National Debt Clock
"Mito Chondria is young...but wise when it comes to this stuff...." Lar Dog
last tri in 83
Jul 8, 08 9:47
Post #20 of 41 (383 views)
Re: Stock Talk [Mito Chondria]
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sounds encouraging. ;-)
_____________________________________________
“I never exaggerate. I just remember big.”—Chi Chi Rodriguez
Tim
Mito Chondria
Jul 8, 08 10:14
Post #21 of 41 (378 views)
Re: Stock Talk [last tri in 83]
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I guess you can call this a late 4th July liquidation sale...
---------------------------------------------------------
A must see Video
:::
A House of Cards
:::
CIA Blowback
:::
The R3VOLUTION will not be televised
:::
US National Debt Clock
"Mito Chondria is young...but wise when it comes to this stuff...." Lar Dog
MattinSF
Jul 8, 08 10:15
Post #22 of 41 (376 views)
Re: Stock Talk [last tri in 83]
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In reply to
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In Reply To
Indymac Bank (IMB) formerly a high flyer in the mortgage field is now trading at about $0.70. This company was at $45 in late 2006. Big cash problems now, a run on the bank cost them $100 mil., govt. bailout talk, and well, the mortgage market.
Worth a few risk dollars?
Shit...these people own my house!
"As a result of the above, we have made the difficult decision, effective July 7, 2008, that we will no longer accept any new loan submissions or rate locks in our retail and wholesale forward mortgage lending channels, except for our servicing retention channel. We plan to honor all of our existing rate-locked loans and will continue to fund these loans in the coming weeks. While the managers and employees in these units have worked incredibly hard, these units are not currently profitable due to the continuing erosion of the housing and mortgage markets. At the same time, these operations take up significant balance sheet capacity and "feed" growth in the servicing asset, an asset we need to shrink given its size relative to our existing capital."
So does this mean that when my 5/1 expires in 2 years I can't re-fi with these guys? does a re-fi qualify as a new loan submission?
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"Personally, I think a McCain presidency would be a disaster as he proceeds to piss off everyone."
ajfranke
(This post was
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by MattinSF on Jul 8, 08 10:31)
Mito Chondria
Jul 8, 08 22:30
Post #23 of 41 (335 views)
Re: Stock Talk [MattinSF]
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"So does this mean that when my 5/1 expires in 2 years I can't re-fi with these guys? does a re-fi qualify as a new loan submission? "
yes, no more loans with them. Find another lender. That's what I've forecasted all along but people made fun of me in 2005. Watch out, Lehman is one of the next ones to go. With less lenders there is less money available and with less supply, loan terms will become more strict and rates will also go up. I would definitely switch to a fixed (I would have already done so a couple years ago) if you still have sufficient equity to refinance. The housing downturn (and US economy) is far far from being over...
edit: and what do you mean with: "Shit...these people own my house!". The lender is not on the grant deed, so they don't own your home. Unless they foreclosed on you and then they own it as the trustees deed would indicate, but then it would no longer be your house....So it is your house, you simply signed the trust deed as collateral.
---------------------------------------------------------
A must see Video
:::
A House of Cards
:::
CIA Blowback
:::
The R3VOLUTION will not be televised
:::
US National Debt Clock
"Mito Chondria is young...but wise when it comes to this stuff...." Lar Dog
(This post was
edited
by Mito Chondria on Jul 8, 08 22:34)
peter826
Jul 9, 08 11:23
Post #24 of 41 (315 views)
Re: Stock Talk [spot]
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Well, I think I missed the bottom on Ford.....was around $4.30ish at the lowest last week, now up to $5.05 at the moment. I figure it for a $7-$8 stock tops, I ended up putting my money somewhere else..
last tri in 83
Jul 10, 08 9:58
Post #25 of 41 (279 views)
Re: Stock Talk [Mito Chondria]
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In at $0.29. We'll see.....
_____________________________________________
“I never exaggerate. I just remember big.”—Chi Chi Rodriguez
Tim
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