Now Showing: The Market Zombie Movie

'The Market Here' is the zombie movie all star cast, roughly in order from most to least outrageous:

General Motors (MTLQQ.PK) - hovering at a half-billion dollar market cap, even though the stock is worthless.
Lehman Brothers (LEHMQ.PK)- up 200% on Friday, even though it faces $100 billion in claims.
AIG (AIG)- up over 5x since beginning of July, even though the CEO admits there is no equity in the company.
FNM (FNM) - up hugely. But the preferred stock still less than 10 cents.
FRE (FRE) - same as FNM,
Washington Mutual (WAMUQ.PK) - up 35% on Friday. Why not buy the holding company notes for 70 cents?

Comments

[Doukas Kapa...:]

I suspect that a big part of all this “zombie talk” is a bit hypocritical. There are two juxtaposed tunes that experts use at will when they want to influence the market. On the one hand there the “the market is always ahead of the real economy” tune. They play that tune when they want you in. On the other hand there the “look at the fundamentals” kind of song. They sing this song when they want you out.
D

Aug 31 05:41 AM

[Moon Kil Woong:]

The Zombies are eating the market because the government gave them a special concoction that made them stronger (government favoritism and the green light to use it to kill competition) and they simply won't die (government implicit and explicit backing, funding, anf guarantees which will soon let them raise money which competitors can't do).

So why do we have bank after bank failing while BAC, Citibank, and even Freddie Mac/Fannie Mae (which is hard to do since they control the market already). I guess we are all waiting for AIG to use the 20-40 billion infusions they get per quarter from taxpayers to TKO everyone else out of the insurance business. What happened to too big to fail? It seems like rather than the government commiting to shrinking them they commited to letting them become a monopoly. Maybe their logic is: How can they loose money when they are a monopoly?

Anyway onto GM which announced yesterday that they will now take $297 million of federal funds after breaking the unions and firing thousands of Americans and set up truck manufacturing in China. So much for government funding that helps Americans.

Even a horro movie maker couldn't make what's happening to America this absurd. No one would believe it.

Aug 31 07:39 AM

[tobi:]

The zombies dominate the market because people are in for quick gains very similar to the pump and dump sheme of small and microcaps. This tells me however that nobody feels comfortable investing in bluechips for the long run, which is what usually people would do if they expected the overall market to do well in the future. Once the zombies move to their graves again, their will be a rush for the tomb door. Lehman brothers rising over 200 % should be the most absurd as they brought us to where we are now!

Aug 31 08:56 AM

[Warm_Paw:]

The Zombies dominate the markets because the govt wants their money back!
Talk about transparency - whoever's buying these zombies is more manipulative than Goldman Sachs.
Maybe it is Goldman Sachs. LOL
This is so obvious it's ugly.
Stay on the sidelines people. Nobody knows where this rides going!

Aug 31 11:40 AM

[Lee N.:]

If you're all so smart, anyone of you made any money during the last two weeks?If not, maybe you should joint the bandwagon.

Aug 31 01:56 PM

[banyon:]

wrong ticker for old GM.

Old GM is MTLQQ (Motors liquidation corp.) not GMGMQ.

That was changed after FINRA suspended trading due to alleged nvestor confusion.

Aug 31 10:51 PM

[LKofEnglish:]

gaming the bailout game and why uncle sham, ah, excuse me, uncle scam, no, wait uncle SAM should stop believing in his own lies. Someone needs to stand up tell this fascist regime that they just lost the economic battle of stalingrad. promoting Geithner to "Alexander Hamilton" status will do nothing to save the day.

Aug 31 11:14 PM

[User 480145:]

MEDIA MEDIA MEDIA O MAN
when they say sell sell sell you should buy buy buy
when they say it strong buy means start selling buy recommendation means get out asap

Aug 31 11:17 PM

[faster:]

zombie stock? maybe you should differ a bit. wmis common stock is up this year 450%. why? the investors expect two court decissions in the near future. first the transfer of 4 bio cash from deposits at jpm, stolen during the seizure. second a investigation in the wrongdoing of fdic and jpm previos to the seizure (stockmanipulation, manipulating the market with wrong news (cramer has to expect a subpoena) and criminal breach of contract. estimated between 13 and 40 bio plus punishments.
ps: the senior bonds are at 87 - 89 and the junior at 70. look more accurate, at finra.

Sep 03 07:59 AM

[the details:]

Let's add a field to stock's Key Statistics, named "Government Ownership". It will be located between "Institutional Ownership" and "Debt to Equity". Better yet, call it "Ownership by the Uncle (Sam) Mutual Fund".

Oct 06 10:05 AM