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Mark Bern, CFA
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Mark Bern (formerly K202) intends to continue writing solo and has shed other work-related relationships that required anonymity. CPA since 1990 a CFA charter holder since 2000. He has a bachelors degree in Business Admin. with a concentration in Economics. His experience includes both private... More
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  • Mark Bern, CFA
    , contributor
    Comments (5150) | Send Message
     
    Author’s reply » The last comment on QC # 104 was made by Mark Bern:

     

    Yeah. That good old inverse relationship between the US$ and US equities still seems to be in play. Though we may be due for another breather, I can't help but think that it will be short-lived if the dark pools and HFTs decide to prop up equities, relationship be damned.
    3 Oct 2010, 08:43 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10502) | Send Message
     
    That's what's bothering me, Mark. It used to be oil up, stock market up. Now it seems to be, dollar down, market up; or the reverse. Over all, though, we need the banks in the game. If they go up, I believe we'll see the market continue its surge.

     

    This may be too much to ask, but if we see oil go up, the banks go up, and the dollar break below 77, we may have a serious equity rally. And the bond holders may get crushed. Just a parameter to consider.

     

    Another issue to track is that over in Europe the terrorist alert has been raised. US alerted Europe about this possiblily, as reported in today's NYT.
    4 Oct 2010, 12:09 AM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    I am getting word that some of the long-standing "accords" between various European countries and the larger terrorist organizations have crumbled.

     

    This MAY indicate that they are now prime targets, as those organizations demonstrate their power, but it could just be a negotiating tool...

     

    The fact that this coincides with the installation of actual (vs faux) economic sanctions upon Iran (and by extension, the legions of terrorists they sponsor) is what makes for jitters...

     

    Oh, and then there's the thing about a potential Israeli assault upon Iran's nuke factories.

     

    What is the old saying? "Three's the charm"?
    4 Oct 2010, 09:09 AM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    seekingalpha.com/artic...

     

    Man makes some good points from the charting/technical side, and supports the "October is looking very scarey" point of view.

     

    I have been looking for a higher top, though, more in the 1070 range, but I guess 1060 is not so far from there (we could still see a nice pop this week, of course).

     

    I'm thinking that Gold will be the "tell" this time around (though oil is my real focus right now). If Gold takes a drop, I would expect the dollar to go up (signaling a change in Chinese policy, for one thing).

     

    Japan and China are holding LOTS of overt and covert talks right now. The Japanese need a deal, so its POSSIBLE China will relent buying yen and selling dollars...

     

    But its MORE possible that they will continue crushing the yen (it could easily drop below 80/$), which they have the resources to guarantee (even without the aid of the FOREX sharks, who are mostly on their side of the equation).

     

    Japan might capitulate soon, at which time we could see a plateau for the dollar and recovery to the high 80's for the yen.

     

    If the current left-wing Japanese government falls to a MORE marxist faction (which is my current prediction) this situation could fall apart and the Sino/Japanese trade war could ignite, with us siding with Japan.

     

    Should this occur, it could turn the markets upside down very quickly.

     

    Great news for REE's, LOL, probably.
    4 Oct 2010, 09:31 AM Reply Like
  • optionsgirl
    , contributor
    Comments (5038) | Send Message
     
    finance.yahoo.com/tech...
    4 Oct 2010, 09:55 AM Reply Like
  • doubleguns
    , contributor
    Comments (8635) | Send Message
     
    OG that article is a potential 9.2 on the stock market Richter scale.
    4 Oct 2010, 10:57 AM Reply Like
  • FocalPoint Analytics
    , contributor
    Comments (6190) | Send Message
     
    “If states get no further federal assistance, the steps they will have to take to eliminate deficits will likely take a full percentage point of GDP. That in turn, cold cost the economy, 900,000 jobs next year.”
    _________________
    It appears the government will intervene here... What are the investment implications? What are the plays here?
    4 Oct 2010, 11:05 AM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    The odds of the States getting no further Federal Assistance are zero.

     

    The question is not "if", but "when", "how" and "how much".

     

    This varies only slightly in outcome if taken up before the elections, after the elections during the Lame Duck season, or after the new government is seated in January 2011.

     

    The really bad news is not that some sort of structured shift of defaulted liabilities will be made onto the Federal government, but that a PERMANENT structure for doing this is the likely method.
    4 Oct 2010, 11:49 AM Reply Like
  • Mark Bern, CFA
    , contributor
    Comments (5150) | Send Message
     
    Author’s reply » The loss of jobs and a full percent from an already minuscule GDP growth number will create problems. But the big problem for equities is what will happen to the bond markets when defaults start to happen. Government issued (state, county and municipal) bond obligations will take a big hit and that will put more fear into the market.

     

    Then again, if the local civil servant unions contracts are thrown out and pension obligations get renegotiated (with the excesses getting picked up by a rich uncle), the economy will lose a lot of the certainty it still clings to and the buying power of local officials will get creamed. If a lot of government workers got paid what they are worth, many would end up filing for bankruptcy, losing their homes, etc., not to mention the impact of all the lay offs. And this commentary was only addressing the municipalities. This doesn't even include state and county governments woes. The problems in these areas are just as big. 2011 is shaping up to look pretty scary.

     

    Right now I'm not thinking so much about "how" the market will react as "when" and "to what extent." The economy is already knocked down. And now the bully is going to start kicking. But will this news get swept under the proverbial rug until after the election? I thought the market was supposed to be forward looking! Welcome to the new normal: abnormal.
    4 Oct 2010, 02:54 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    Now that congress has adjourned with out taking up the tax situation and no 2011 budget proposal has even been drafted we can expect continued uncertainty. With Democrats planning on two spending bills per day for the two week lame duck session just to keep the government running until FEB the fire works should be fast and furious. How much pork can be crammed through before the lame ducks are gone and the new congress starts conducting business such as it is. I think actually having a budget proposal on the President's desk will go a long way toward settling some of this cockamamie spending. That should also provide some degree of framing for less volatile market conditions.
    4 Oct 2010, 09:57 AM Reply Like
  • FocalPoint Analytics
    , contributor
    Comments (6190) | Send Message
     
    I took profits on oil today.

     

    I also bought some (MOS) and (ERII) today.
    4 Oct 2010, 11:08 AM Reply Like
  • Mayascribe
    , contributor
    Comments (10502) | Send Message
     
    C&D Technologies (CHP) up another 14.66% today; up 62.48% since Sept. 20th.
    4 Oct 2010, 11:15 AM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    Took profits on (KGILF.PK), (SLW) and (TWM).
    4 Oct 2010, 11:45 AM Reply Like
  • Mark Bern, CFA
    , contributor
    Comments (5150) | Send Message
     
    Author’s reply » TB - I have to give you credit, dude. The market is shaping up for a fall in Q1 2011, just as you predicted. As usual I have been early and taking my lumps, but will start to add to my short positions after the elections euphoria begins to wear off. I am looking forward to the opportunities to be long at some point next year, when the bottoming process has run its course. Until then I'm mostly going to be on the short side. I just don't trust the fundamentals to heal quickly enough to get me long just yet.
    4 Oct 2010, 03:29 PM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    Thanks, Mark. I pulled my (TWM) hedge (though it made me mucho money in August), and I am thinking that the next leg down the S&P500 will lead the way (it has been looking relatively fragile compared to the other indexes lately).

     

    I'm also anticipating a PM correction, starting at any time (note that the big central banks and IMF have closed out their sales, so now the markets are reacting to that - in theory). In reality, the invisible hands which always set gold prices are letting them drift higher, where the not-so-invisible shorts for silver have been allowed to unwind as well...

     

    For now.

     

    After the currency fracas between US/Japan/China settles down (and assuming the Euro doesn't decide to get into the act), look for fiatGold to get "active" again. Right now a strong gold price is a handy club for certain currency manipulators to beat OTHER fiat currency manipulators in the head with. This has about 5% upside left, imo.
    5 Oct 2010, 02:21 PM Reply Like
  • Silentz
    , contributor
    Comments (714) | Send Message
     
    TB, even with the BOJ move, and the anticipated helicopter drop of QE2, do you still think we'll end up with a correction in PM?
    5 Oct 2010, 02:28 PM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    Yes, the temptation to "use" their fiat power over gold is already creeping into the picture.

     

    I am also studying the concept of a political loss by the dominant left in the upcoming elections translating into NO QE (the perception being why should they do the Republicans any favors - which demonstrates a LACK of understanding of the costs of quantitative easing, of course...). Disappointment at this sort of announcement (which would occur in the event that they cannot arrange QE2 PRIOR to the elections, when they need them for vote-buying purposes) could be pretty bad.
    5 Oct 2010, 02:59 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    TB, Silentz: Greetings. With a full slate of 20 spending bills on Harry Reid's agenda just to temporarily fund government operations QEII would more than likely be done by executive order or other executive activity. Of course the new legislature coming in JAN 2011 especially if the republicans win one or both houses of congress will be much less amenable to letting the executive branch circumvent the legislature. That could effectively put an end to the QEII initiative and force the executive branch to do cap-n-tax through executive actions. Even that could be challenged by the legislature as mentioned above because it circumvents legislative authority. Of course that would initiate another court battle and it's hard to tell where the SCOTUS might come down on the issue. All in all next summer is stacking up to be a hot one politically as I'm sure that a Republican majority in either house will wreak havoc for the POTUS's remaining agenda. What impact will all this have on the market? That is the $750B question. Obviously Uncle Sugar would not continue propping up the market and the fight over tax policy would be on in earnest. Not to mention repeal/replacement of Obama care being a priority for house Republicans. Not that Voldemort would sign off on that action but just putting it on his desk would be problematical for Democrats. I'm sure that getting a budget for 2011 will be a priority for House Republicans as well not that Voldemort would be amenable to any budget he didn't send them. Gotta go this comment is getting long winded and I have to go to the dirt. I'll check back later.
    5 Oct 2010, 04:46 PM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    finance.yahoo.com/news...=

     

    2 new governors for the Fed were installed by Voldermort today - a major news item which I suspect will escape the notice of most folks.

     

    This includes a new Vice-Chair #2 under Bernanke.

     

    Both are true-believing Lefties a la Saul Alinsky.

     

    QE2 is a done deal, and I now believe Bernanke is not long for that job, regardless.

     

    Larry Summers is not busy right now...
    4 Oct 2010, 06:20 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10502) | Send Message
     
    Yesterday, I wrote about the dollar possibly bottoming. Today, I went into www.stockcharts.com/ and pulled up a weekly chart on (UUP), PowerShares DB US Dollar Ultra Bullish Fund. In the below linked chart, it's easy to see that at about 22.50 there is, or will be, a potential buy infection point. We're almost right there now.

     

    stockcharts.com/h-sc/u...

     

    We all know what will happen if/when the dollar does a dead cat bounce.
    4 Oct 2010, 06:49 PM Reply Like
  • Mark Bern, CFA
    , contributor
    Comments (5150) | Send Message
     
    Author’s reply » Maya - It looks like it could go down to touch 22, maybe. But you're right, the congestion in the area immediately below the current level is humungous!
    4 Oct 2010, 08:31 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10502) | Send Message
     
    You're right, Mark. A triple bottom would be at 22. But (and I haven't figured out how to put a support line in, yet) the support line, if drawn, would be about 22.50.
    4 Oct 2010, 09:34 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    Things could get very interesting very quickly if Republicans take control of the house. This isn't the old Republican GOP any more. Democrats are already fund raising to fight the legal battles which will come about as the newly formed committees start all manner of investigations. I wouldn't be surprised to see a serious movement afoot to do a real audit of the FED. Whether or not that actually takes place is a different story but the questions that will be asked during the debate should be just dandy. Naer do wells from both parties will fight it but if it gets enough traction in the first year it could happen. Wouldn't that be a preeety kettle 'O' fish?
    4 Oct 2010, 06:50 PM Reply Like
  • Mark Bern, CFA
    , contributor
    Comments (5150) | Send Message
     
    Author’s reply » You want the truth? You can't handle the truth!

     

    I think that's what the Fed's only defense is going to be. So, if an audit does happen I won't be holding my breath waiting for full disclosure being available for public view. I think that they will keep that ugly stuff behind closed doors. Personally, I'd rather know the truth and take the necessary steps to deal with it. But I suspect that our elected leaders will flounder on this point. I suspect that they will get convinced that the truth would roil the markets so badly that it could cause a depression. Of course, it may still cause one even if it's kept private because of the steps that may be necessary for government to take to undo the damage. It will take a lot of time to heal; more if the truth is hidden because the medicine will be meted out in smaller bites so as not to scare Wall Street and corporate America. But the pain is unavoidable, IMHO. I'd far rather get it all over with quickly, purge all the bad debt from the system, and re-create a healthy vibrant economy that can grow of its own accord than weasel away in the dark allowing the mortally wounded companies hold the rest of us back.
    4 Oct 2010, 08:39 PM Reply Like
  • optionsgirl
    , contributor
    Comments (5038) | Send Message
     
    Re: PNPFF.PK
    www.theaureport.com/pu...
    4 Oct 2010, 08:18 PM Reply Like
  • Moon Kil Woong
    , contributor
    Comments (11527) | Send Message
     
    A fed audit will most likely only show what we already know, its leverage is up there with Bear Stearns before the collapse and that doesn't include the backstops it signed without disclosure. The simple fact is the Fed is way overleveraged and QE II will only make it worse. I guess they decided a long time ago they were too big to fail. They seem to be duplicating the wanton disregard for safety their brethren TBTF banks did this recession. Their brethren were right that the Fed would save them. The Fed must be betting that the public will be willing to save them. They won't be too happy when their taxes go up 20% to cover their multi-trilion dollar losses.

     

    Fed, heal thyself! That means ditching Bernanke and the rest of the buffoons that are gluttons for debt!
    4 Oct 2010, 10:49 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    My, my. We have been attracting an inordinate amount of Troll action these days. Bernanke and his new pals will do another round of QE further trashing the dollar. Meanwhile banks around the world are squawking about global monetary governance to prevent protectionism in the FOREX markets. Global currency any one? We can take corruption to an entirely new level with a global version of the FED. I'm sure such a thing would work just fine if we could only find the right people to run it. Yea that trick always works. We see how well it's done since 1913 here. I wish I could sit this one out but I'm afraid that won't be an option for any one. No place will be safe and there will be no safe havens left going down swinging or winning are the only routs left.
    5 Oct 2010, 09:47 AM Reply Like
  • optionsgirl
    , contributor
    Comments (5038) | Send Message
     
    Japan is following in our footsteps:
    news.yahoo.com/s/nm/us...;_ylt=AmhraLRRrSfOjVCk...
    5 Oct 2010, 10:01 AM Reply Like
  • Silentz
    , contributor
    Comments (714) | Send Message
     
    And what's amazing is the "market"(I use quotes because it's not really a market any more, just a rigged game) is seeing this as a good thing.
    5 Oct 2010, 01:09 PM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    Sold (TWM) today, moving out of the hedge for the moment, will re-hedged at an opportune point (perhaps Friday) shorting S&P500.

     

    Took profits in (CLDX), zooming up this morning.

     

    REEs are very strong today, as are some of my pm miners. NOT taking profits in those areas, holding fast for now.

     

    Shopping in the oil and ng patch this morning, still slowly accumulating in that area.

     

    Expect off-axis and dramatic announcement soon from the Fed about QE - which might be timed to support the stock markets, which I expect to soon start to sag. Inflection point where they should go down could be flipped to plus with sufficient crack, er, money injection into the nation's economic veins.

     

    Like all long term and really strug out addicts, however, the effects will last for a shorter time and render a less satisfying high.

     

    Enough to make it through the elections?

     

    No doubt.

     

    I still expect them to run out of steam Q1 2011, and the new political balance of power will mitigate strongly against another dose of crack, er, QE.
    5 Oct 2010, 10:27 AM Reply Like
  • FocalPoint Analytics
    , contributor
    Comments (6190) | Send Message
     
    (CLNE) signed an agreement with Pilot Travel Centers LLC (Pilot) to build, own and operate public access, compressed and liquefied natural gas fueling facilities at agreed-upon Pilot Flying J truck travel centers nationwide. Pilot Flying J operates over 550 truck travel centers in 43 states and six Canadian provinces. It is the largest truck-fueling operator in the country. tinyurl.com/y5676b
    ________________________
    This is news I have been waiting on for some time now. NG for commercial trucks makes BUSINESS sense even in the absence of government tax incentives to help businesses, particularly small trucking businesses to convert their trucks to NG. The reason I see this as important is because the deal was based on economic sense as opposed to being dependent on government intervention to make it happen.

     

    As a result of this news, I have re-initialized my NG for trucks positions (CLNE) (WPRT) (CMI)…

     

    (CPST) also makes a micro turbine for commercial trucks that runs on NG… HTL has some excellent information on that aspect of the NG for commercial truck play...
    5 Oct 2010, 11:58 AM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    Thanks for the headsup, User!

     

    Moved (CLNE) back to page 1.
    5 Oct 2010, 12:06 PM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    Wowza.

     

    (GPRLF.PK) is up over 20% today, silver, silver, silver...

     

    REE's are looking solid, (LYSCF) leading the way, up over 7%...

     

    Precious pennies doing very well today, as well they might with the PM prices where they are...

     

    Oil stocks showing increases across the board, though some are modest...

     

    Shopping still in the oil and gas space, (CLNE) as friend User mentioned has some progress to report...
    5 Oct 2010, 12:26 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10502) | Send Message
     
    Expecting a dead cat dollar bounce I initiated a small postion in (UUP).

     

    Added to Exeter Resources (XRA); RSI is at two year low, below all the moving averages; potential takeover target, MACD shows a wide sell spread---->leading me into a contrarian purchase.

     

    Plus, the stock got hammered yesterday from announcing a $50M agreement with an underwriter to purchase 8,065,000 common shares for CAD$6.20, which is about 12% of market cap. Currently, shares in Canada are trading for CAD$6.10. Is this mystery "underwriter" initiating a takeover?
    5 Oct 2010, 01:20 PM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    Maya: (XRA) is selling C$50m in shares (about 8m shares) to Canaccord Genuity to raise money to invest in their Chilean project.

     

    Looking at the effect, which initially trashed the stock price but has now flatlined at $6 (near the C$6.20/share offering price), it looks pretty straightforward. They picked the right day to do it, the support for pm junior mining prices is strong today. One way to look at it is that the stock might have seen a 6-8% bump today, so the dilution is washing out with the market increase in Gold.
    5 Oct 2010, 01:37 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10502) | Send Message
     
    Also initiated a position in Lynas Corp. in my BA.
    5 Oct 2010, 01:37 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10502) | Send Message
     
    TB: Thanks. I might then re-interpret Cannacord's move as one keen and of little risk. Gold will likely keep rising over the next few years, and now they own 12% of Exeter if there is a buyout. I feel pretty comfortable at the $5.99 entry price, that price being around Cannacord's price of shares purchased; unless that is, if gold takes a dive in November after the Indian wedding season has concluded.

     

    One thing to consider when investing in Chilean and Brazilian miners is how much of the mining costs are directly related to the dollar devaluing against foriegn currencies like the real, etc.

     

    For instance, 16% of Jaguar Mining's mining costs last quarter was lost (or vaporized) when the Brazilian real increased in value as compared to the dollar. So the game is greatly influenced by currency valuations. Even still, these miners are going to have terrific upside earnings reports this quarter due to gold's rapid rise in value/ounce.
    5 Oct 2010, 01:57 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10502) | Send Message
     
    Got lucky! Yesterday afternoon, I sold all of my (CHP), for around a 58% gain. Today, news comes of potential delisting. The stock trading halted for a time today, and is trading down 23.65% so far today. Lucky me!
    5 Oct 2010, 02:07 PM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    Chile's peso floats vs the gringo $. Exchange rates have fluctuated over the past few years, from a high of over 700:1 to a low of about 370:1. Right now its in the 500's.

     

    Chile, unlike Brazil, has a FTA (free trade agreement) with the United States, so our relationship is quite stable, and currency exchanges relatively uneventful as well.

     

    I am less nervous about investments in Chilean miners than those in Brazil (or certainly Venezuela, Bolivia, China, Russia, etc). FTA's are a good rule of thumb in backing up your thinking about the wisdom of an international investment. For example, South Korea has a strong FTA with the U.S., where China and Japan do not.
    5 Oct 2010, 02:11 PM Reply Like
  • FocalPoint Analytics
    , contributor
    Comments (6190) | Send Message
     
    TROLL

     

    You have succeeded in capturing my attention with your addition of over 300 negative thumbs in the last few days..... I WILL find you....
    5 Oct 2010, 02:57 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    Now you've done it Troll. I remember the last Troll User went after. It didn't take long before we didn't see the Troll around any more. Do you suppose it's the same one that just changed it's name?
    5 Oct 2010, 04:50 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10502) | Send Message
     
    User: Make that over 900!!!! thumbs down the troll has given me in the past week or so. Sheesh! 900? Wow.
    5 Oct 2010, 05:28 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    I think the Troll may have a vendetta. It seems to be giving thumbs down to my posts on other threads and to those that appear to agree with MHO. If you don't like my posts Troll either don't read them or debate the issue with me for all to see. That assumes you aren't a mental midget and can actually present a cogent argument to support you point of view.
    5 Oct 2010, 06:04 PM Reply Like
  • Mark Bern, CFA
    , contributor
    Comments (5150) | Send Message
     
    Author’s reply » Robert - I'm finding that a Troll is hitting me elsewhere also, but only in a couple of other threads. But I'm sure that the concentration on the QCs is due to the efficiency factor of being able to hit so many of us so many times so easily.
    5 Oct 2010, 06:17 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    Mark, Bern: Greetings. You are doubtlessly correct the concentration here would appear to be a target rich environment. Wouldn't it be nice to know what motivates Trolls. Well maybe not I understand they are an unsavory bunch living under bridges and all. LOL.
    5 Oct 2010, 07:04 PM Reply Like
  • Mark Bern, CFA
    , contributor
    Comments (5150) | Send Message
     
    Author’s reply » It is interesting to look at what the global recession has done to nations around the world. It appear that most of the damage has been done to the developed countries and that many of the emerging countries seem to have either been untouched or, in some cases, even benefited.

     

    www.gfmag.com/tools/gl...
    5 Oct 2010, 03:49 PM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    All according to plan.

     

    Kyoto Treaty, WTO, IMF, SEATO accords, Copenhagen, Chinese most-favored-nation, etc, etc, etc.

     

    Marxist redistribution on a scale that dwarves the Marshall Plan.

     

    Carbogeddon deluxe.

     

    If anyone wants a lurid (but believable) snapshot of our potential future, check out the book "The New Centurions" by John Ringo. He has about 60% of it correct (nobody's perfect).
    5 Oct 2010, 04:03 PM Reply Like
  • Silentz
    , contributor
    Comments (714) | Send Message
     
    Oooh...I'll have to look for that. I like Ringo.
    5 Oct 2010, 05:09 PM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    If you go to baen.com and hit the "Library" button, they list all their authors that allow free downloads. John is one of them (though his newer books are not included). Virtually all his series are worthwhile, imo.

     

    They charge $6 for full downloads of their other books, which is quite reasonable.
    5 Oct 2010, 07:56 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10502) | Send Message
     
    Yo bears...now we have Canada showing signs of investing into the markets. We have the institutions *just* beginning to bail on bonds, flipping to equities. We have QE2 coming (maybe...wait a minute, we already know QE2 is going on, but nobody is talking about the billions injected over the past few months that Graham Summers wrote about). We continue to see the dollar get racked. We have indications that earnings will be better than expected. And we have the Phillies entering the playoffs, again!

     

    What more do you want ;-)

     

    Still think we have to watch the dollar. (UUP) closed at $22.56, down 19 cents. Really close to the $22.50 support.
    5 Oct 2010, 04:24 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10502) | Send Message
     
    Just in: More bullish news! All the Bush tax cuts will be extended. All of them.
    5 Oct 2010, 07:03 PM Reply Like
  • Mark Bern, CFA
    , contributor
    Comments (5150) | Send Message
     
    Author’s reply » I missed the announcement. Last I heard this afternoon it was still a widely debated issue. Where was the announcement?
    5 Oct 2010, 07:49 PM Reply Like
  • Mayascribe
    , contributor
    Comments (10502) | Send Message
     
    Kudlow.
    5 Oct 2010, 08:11 PM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    Kudlow:

     

    [quote] At a small, informal breakfast in Midtown New York Tuesday morning, House Republican leader John Boehner said the lame-duck Congress, scheduled roughly for November 15 through December 22, will pass a bill that extends all the Bush tax cuts. And he said President Obama will not veto that bill. [quote]

     

    Interesting. And if Boehner and the Republicans were in control of the government (vs Voldemort and the Democrats), I would have to treat this prediction with a lot of respect.

     

    Given, however, that Boehner is not in a position to make such promises, its just so much pre-election pontificating.

     

    I really, really...

     

    [imagine a LOT of "really's]...

     

    WISH that what he is insinuating - that the elections will see a chastened Democrat leadership, including the White House, immediately kowtowing to the yet minority (and powerless) Republicans - comes to pass. It could head off some real nastiness that I strongly suspect may happen between now and late January 2011.

     

    Let's hope that Boehner is right - but I am not laying any expensive bets that he is.
    6 Oct 2010, 09:33 AM Reply Like
  • Dialectical Materialist
    , contributor
    Comments (4600) | Send Message
     
    Since HTL is not yet online, I feel obligated to report that (CPST) was up just over 6% today on slightly below average trading. You were expecting commentary and insight? Take it up with HTL when he gets back :)
    5 Oct 2010, 10:12 PM Reply Like
  • Moon Kil Woong
    , contributor
    Comments (11527) | Send Message
     
    It was a funny rally today. I guess Japan just reminds everyone the race to devalue is still on. So far currency devaluation is once again fueling the markets. The world can't get enough of over-leveraged central banks and governments adding on the burden to future taxpayers and destroying the real value of citizens that actually save money.

     

    Party on lol. I was hoping this rally was going to be due to the real economy pulling out of a recession it should have long ago without the government holding it down with more costs on businesses. So far I have been wrong. It has been an election devaluation frenzy to help keep incumbents in office.
    6 Oct 2010, 12:39 AM Reply Like
  • optionsgirl
    , contributor
    Comments (5038) | Send Message
     
    Here's a Hungarian ecological disaster:

     

    www.youtube.com/watch?...
    6 Oct 2010, 05:49 AM Reply Like
  • one eye
    , contributor
    Comments (647) | Send Message
     
    That GLD Up Gap will be closed, when who knows. It has gone past my projected $130 target.

     

    Current target for DXY is low of 2008.
    6 Oct 2010, 06:01 AM Reply Like
  • one eye
    , contributor
    Comments (647) | Send Message
     
    While our internal economy may be "slow", the USD's drop bodes well for the earnings of the DOW and SPX.

     

    I had expected Anal-yst earnings reductions but have to revise because of $$$ drop.
    6 Oct 2010, 06:09 AM Reply Like
  • one eye
    , contributor
    Comments (647) | Send Message
     
    Oil supply may drop dramatically today, long waiting lines at ports to deliver same, weather related.

     

    Brent still maintains a $2.00 premium over WTI which should be at parity at a minimum, higher if one includes shipping.
    6 Oct 2010, 06:15 AM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    BusinessWire is reporting that Head Waters (HW) in conjunction with Neste Oil has successfully tested its proprietary HCAT system. The system cleans heavy oils to reduce down stream equipment fowling and more eficient production of light fuel oils from heavy crude.
    6 Oct 2010, 10:46 AM Reply Like
  • Moon Kil Woong
    , contributor
    Comments (11527) | Send Message
     
    As more and more QE talk mounts gold looks that much more shiny. Can't the Federal Reserve just take its lumps and admit they have no power left and are more leveraged than Bear Stearns before they crashed? I'm still waiting for a real audit. My guess is that if they mark to market their assets they will have 0% equity left.

     

    Hey Federal Reserve, if you really want to call yourself a private bank not responsive to government you better act like one and think about your capital ratios. No bank in their right mind would take the risks you are taking. Talk about a TARP bank if I ever saw one!
    6 Oct 2010, 11:36 AM Reply Like
  • FocalPoint Analytics
    , contributor
    Comments (6190) | Send Message
     
    Fearful and Confused:
    In order to increase wealth, investments need to exceed the dollar devaluation rate. But what is that rate? I used to think that all the movement into gold could be used as a metric to measure the devaluation rate. However, I doubt the devaluation rate could possibly be as high as the increase in gold prices… Does this signal a bubble forming in gold?

     

    If gold can't be used as a surrogate measure for a dollar devaluation rate, what about oil? Having some kind of measure of how the dollar is devaluing could be a useful investment tool. For example, if you are getting a 4% dividend and the devaluation metric is indicating a 5% devaluation…. Got bonds? It seems investments with fixed payouts will mostly provide an illusion of positive financial returns when in fact, your just sinking slower. The key appears to be the accurate identification of high value generating companies… Companies that have good business fundamentals in conjunction with the ability to generate NEW value. Do we know if theses kinds of companies are concentrated in particular sectors, or is this more of a company specific kind of thing? I am fearful and confused about this market.
    6 Oct 2010, 12:30 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    User: Greetings. You are not alone my friend. A number of us at SA especially the Renegades are in the extreme caution mode at the moment. Gold appears to be a fiat commodity with little connection to fundamental market valuation or the historical tether to silver. This indeed makes it a poor yard stick for measuring $ performance. That in conjunction with the massive amount of manipulation in the FOREX markets make valuations very difficult and tenuous at best and downright impossible at worst. This is indeed a scary market with actual return calculation mostly just SWAG (Scientific Wild Ass Guesses.)!
    6 Oct 2010, 12:43 PM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    Added more (LYSCF.PK), (NATUF.PK), (PAL) and (CPST) today.

     

    (MCP) is going through another round of profit taking, triggered by hitting $29 again.

     

    I would expect this cycle to have at least one more round trip before the venture partners who brought MolyCorp to market have taken their profits and balanced their positions.

     

    I now have my answer as to why MolyCorp management has been so unexpectedly passive concerning their development (and potential M&A) plans.

     

    So we have at least 2 or 3 more weeks and another profit taking cycle (if I am correct) before any meaningful news out of them.

     

    Lynas, meanwhile, has overcome construction and development problems with their concentrator plant at Mt. Weld, Australia. Now slightly ahead of schedule, and with some important government regulatory reviews behind them, this portion of their plan is tracking very well.

     

    I am still reviewing what I can learn about their Malaysian project, which will be the key to lining up MORE corporate customers from places like Japan. Lynas is still projecting an intial trial run sometime in the 3rd Quarter, 2011. This places them years behind Great Western (GWMGF.PK) in this area, but MUCH closer to their target markets in Japan, South Korea, and Southeast Asia.

     

    They will have to ramp up their LAMP installation schedule very quickly once Malaysia comes on line, but that seems doable now.

     

    www.lynascorp.com/page...

     

    Their pricing estimates (this link is a bit dated, current prices are higher than those in May) and distribution of production is comparable to that of MolyCorp, but weak in the heavier element range, where (GWMGF.PK) COULD be a factor if they can quit doing studies and start building something in South Afrika.

     

    It Great Western is not purchased by a larger company (MCP) within 6-9 months, its likely they will miss their window of opportunity altogether because of their slow rampup on the mining side.

     

    Once Lynas has the profitable Japanese, Korean and Southeast Asian markets sewed up (which is likely to happen over the same 6-9 month period, at least in terms of future contracts), GWM could be left in the dust.

     

    I am also reviewing some smaller REE juniors which might be takeover targets for Lynas.
    6 Oct 2010, 12:42 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    Waterland's bid for the Taiwan unit of Metropolitan Life (MET) has been rejected by regulators with out comment. Meanwhile Principal Financial (PFG) has scheduled their earnings call for NOV 2 ensuring that it will get no attention in the U.S. Coincidence? You make the call. Is some major consolidation in the insurance sector on the horizon?
    6 Oct 2010, 01:02 PM Reply Like
  • optionsgirl
    , contributor
    Comments (5038) | Send Message
     
    Really good commentary by William Poole @ Merk, Poole turns on Bernanke:
    www.merkfunds.com/merk...
    6 Oct 2010, 01:06 PM Reply Like
  • one eye
    , contributor
    Comments (647) | Send Message
     
    check out GMO.

     

    The Mine in question is a joint venture, 80% GMO and 20% POSCO steel.
    6 Oct 2010, 01:15 PM Reply Like
  • one eye
    , contributor
    Comments (647) | Send Message
     
    I'll do what I can over the weekend, I haven't participated and Ergo can give a "thumbs up" to every comment on almost every QC.

     

    a lil bit of time wasted but what's time when its done for friends?
    6 Oct 2010, 01:19 PM Reply Like
  • Copan
    , contributor
    Comments (5) | Send Message
     
    One Eye: Hate to see what's happening to my subjects! I'll break out the thumb cannon while watching the Phillies this afternoon.
    6 Oct 2010, 04:45 PM Reply Like
  • lower98th
    , contributor
    Comments (1420) | Send Message
     
    From Macro Man....QE 2 Much:

     

    "The point here is that anything less than "shock and awe" QE is priced in, and *at best* bonds stay where they are, or at worst, a 2003-like reflationary-driven convexity sell-off is on its way."

     

    Buy the rumor, sell the news?
    6 Oct 2010, 01:49 PM Reply Like
  • Mark Bern, CFA
    , contributor
    Comments (5150) | Send Message
     
    Author’s reply » Lynas seems to be the better play (relative to GWM) to me primarily due to its proximity to the end users markets. But in the end, if MCP can consolidate enough of the industry it may be the best long-term investment. The again, if Lynas remains on its own, it could be a huge win. I'm still leery of going long at the moment because on my longer-term investment horizons and value orientation. But I'll probably be picking up both MCP and Lynas at some point in Q1 next year. I just hope I don't miss too much of the upside.
    6 Oct 2010, 02:00 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    It's confirmed it's a mess. ADP numbers reflect that the private sector shed 39,000 jobs against consensus of 20,000. Euro and Yen are advancing on the USD with the Yen hitting a 15 tear high against the $. While not a "Perfect." indicator it's a sure bet tomorrow's BLS jobs report will be dismal. This will undoubtedly shift the USD even lower. If the Democrats want to preserve their majorities they had better unveil their OCT surprise soon. Is it a good time to put in shorts against the Yen and Euro?
    6 Oct 2010, 02:13 PM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    The Yen was hit with both barrels by the FOJ not even a week ago, when they announced interest rate reductions and a plan to (for the first time in history) buy equities (if anyone thinks this sounds like Bernanke talking, why, whadaya know 'bout that?).

     

    Even so, Japan is getting smashed flat by China and the Forex sharks, who have teamed up to jack the yen to the skies (and drive down the dollar). Soros is swimming around pretending to be a whale (when the facts are that in this crowd, he's a minnow). Check out his recent op-ed's in the Financial Times...

     

    There was a time that behavior like this from the BOJ would see 100yen/$ exchange rates and bleating from Washington about unfair currency manipulation...

     

    As for what Washington IS complaining about, they are far behind the curve (as usual). China is setting up the situation so that they have their cake - and EAT it too. As they gradually let the yuan strengthen against the dollar, it will just be retracing the steep drop in value for the dollar that has already occurred. From their point of view (and that of the ex-USA planet) the yuan will go nowhere much. The depreciated dollar, having lost so much purchasing power, will NOT benefit Americans (who will see things costing more in the stores in general, regardless where they are made).

     

    Japan is now China's primary economic target. Stronger yen = more erosion of their world markets for high tech and high priced goods, with China the beneficiary. Japan is getting hit both ways - with a yen which is appreciating strongly against the dollar and world currencies, thus depriving them of their essential export markets - including the loss of Chinese markets essential to their economy - AND a burgeoning trade war against a powerful China utilizing blunt weapons like their REE monopoly to beat them down.
    6 Oct 2010, 02:50 PM Reply Like
  • FocalPoint Analytics
    , contributor
    Comments (6190) | Send Message
     
    European Union statistics agency Eurostat is expected to revise significantly higher Greece’s 2009 budget deficit in an announcement expected toward the end of October, a senior government source said yesterday. Another source indicated that the 2009 shortfall will rise to 15.1 percent of gross domestic product from 13.8 percent previously stated. The change will also include an upward revision of government debt to 127 percent of annual economic output, versus 115.1 percent previously. With the fiscal figures for 2009 changing, this raises the questions of whether Greece can meet the ambitious targets set in the 2011 budget plan, which aims to lower the deficit to 7 percent of economic output in 2011 from the stated 7.8 percent this year. tinyurl.com/2bv4qkj
    Ireland got downgraded today too. If everything was logical, it would indeed be time to short the hell out of the EURO. However, there are a lot of very big sharks in the water… It might be best to wait until the feeding frenzy starts… than nip in and grab a piece.
    6 Oct 2010, 03:00 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    User: Greetings. While I normally don't participate in the short term activity many of the Gades do I think this time I may. As I recall we did a lot of research on the short plays regarding the Euro but I don't recall looking in to shorting the Yen. I shall have to check my notes from a few months ago. Seems like "DeJa'vu all over again." doesn't it?
    6 Oct 2010, 03:11 PM Reply Like
  • FocalPoint Analytics
    , contributor
    Comments (6190) | Send Message
     
    It sure does Robert... Please let us know your conclusions...
    6 Oct 2010, 03:16 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    User: Greetings. I checked my notes and these were the ones we seemed to be favoring then (EUO) 2XUltra Bear Euro ETF. (DRR) 2XUltra Bear Euro ETN we had only one selection for the Yen (YCS) as our focus was the Dollar vs the Euro. The data was dated so to speak so I didn't include it I did a quick check of EUO and it's near the bottom of it's 52 WK range below $19. I may just open a position in it in the morning as well as YCS after I look in to it some more. Chinese pressure not withstanding I doubt the Yen can continue tracking up so that could be a good play short term on the FOREX volatility we are seeing.
    6 Oct 2010, 04:12 PM Reply Like
  • FocalPoint Analytics
    , contributor
    Comments (6190) | Send Message
     
    That's great Robert... thanks.
    6 Oct 2010, 04:14 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    Your very welcome sir. As much assistance as you have provided me it's the least I could do.
    6 Oct 2010, 06:13 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    North American Paladium (PAL) released their numbers which are ugly.
    finance.yahoo.com/q/is...
    6 Oct 2010, 02:48 PM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    xml.10kwizard.com/fili...

     

    I hope the link works, it has a complete version of their financials.

     

    It appears that they are still suffering greatly from indigestion regarding their recent acquisitions. As many others have discovered, buying a troubled gold mine can be a GREAT way to lose money.

     

    It's noteworthy, however, that net shareholder's equity actually went up a good deal (which would mean that those purchases they made - and their work toward fixing the pre-existing problems - has resulted in a greatly increased value of the whole company).

     

    Whether these valuations (which are of course estimates hopefully made using sound accounting priciples) prove out long term remains to be seen.

     

    I would expect losses of this scale (which are in line with past performance) to drop the share price about 10% or so, short term.
    6 Oct 2010, 03:05 PM Reply Like
  • optionsgirl
    , contributor
    Comments (5038) | Send Message
     
    First Majestic FRMSF.PK has good news:
    www.firstmajestic.com/...
    6 Oct 2010, 02:52 PM Reply Like
  • FocalPoint Analytics
    , contributor
    Comments (6190) | Send Message
     
    Hi OG

     

    I stopped out of SLW today, saving profits... I set the stop too tight... I will re-enter silver again at the first opportunity... I usually buy SLW... Do you think FRMSF.PK has a higher rate of increase?
    6 Oct 2010, 03:18 PM Reply Like
  • optionsgirl
    , contributor
    Comments (5038) | Send Message
     
    I believe SLW is in a class by itself.
    If I had to choose SLW or First Majestic, it would depend on my goals
    Short term or long term? Hedging? What do you expect out of the stock? Do you consider a $7 stock "cheaper" than a $17 stock?
    What will the Mexican Peso be doing while you hold First Majestic?
    They've both been good.
    6 Oct 2010, 05:49 PM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    I agree. I have owned First Maj. since May, over which brief time it has increased over 120%, a phenomenal performance.

     

    (SLW) I have owned for a long time, and since May it too has performed very well, up over 70%.

     

    SLW, however, has long term contracts with dozens of miners that mean that it can yield growth and a profit even when the price for silver drops to, say, less than half its current price. You also don't have any concerns for the usual vagaries which face even an excellent miner like First Maj., ie, running out of rich ore. (SLW)'s risk is spread over decades and dozens of carefully chosen mines.

     

    I would choose BOTH, and I have, LOL, so its no secret.

     

    (SLW) is my rock core for the permanent PM positions I plan to maintain in my portfolio. First Maj. is a current favorite and a major winner, with good recent and current news working in her favor.
    6 Oct 2010, 08:12 PM Reply Like
  • optionsgirl
    , contributor
    Comments (5038) | Send Message
     
    My fave's been Great Panther. Surely a precious penny...
    (GPRLF.PK)
    7 Oct 2010, 12:04 AM Reply Like
  • FocalPoint Analytics
    , contributor
    Comments (6190) | Send Message
     
    Breaking News:

     

    Apple Inc. (AAPL) is planning to produce a Verizon Wireless-ready iPhone by the end of the year, The Wall Street Journal reported Wednesday on its online edition. Verizon Wireless, a joint venture between Verizon Communications Inc. (VZ) and Vodafone Group PLC (VOD) , will begin carrying the phone by early next year, according to the Journal. The new iPhone will reportedly use a chip made by Qualcomm Inc. (QCOM) .
    6 Oct 2010, 03:37 PM Reply Like
  • Dialectical Materialist
    , contributor
    Comments (4600) | Send Message
     
    This is the rumor that won't die. I think it will eventualy be true, but it is hard to get the timing of this right, since this rumor has popped its head up every couple months for the last couple years at least.
    6 Oct 2010, 04:06 PM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    Yes indeed. And I have argued against the rumor twice over the past year.

     

    THIS time there is a little more meat on the bones, but the word I get is that we are looking at availability about 10-12 months from now.
    6 Oct 2010, 04:49 PM Reply Like
  • FocalPoint Analytics
    , contributor
    Comments (6190) | Send Message
     
    You are right TB... the timing here is very interesting. They are going into full production mode at the end of this year... This kind of product has a short shelf life, so if its true that they are going into full production, then those iPhones have to be for another carrier. (S) has been mentioned as also likely to get access to the iPhone… So (S) is the backup plan…
    6 Oct 2010, 05:21 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    Apple (AAPL) has placed itself in a position in which it's watching market share erode as Googel's android OS takes off. There have been several purported i-phone killers released like the Blackberry that just didn't quite get it done. That being said the newest Incredible and Evo4G look to be the real deal. Problems with the new i-phone 4 and not having a 4G network didn't help their cause either. Now Android driven smart phones are available on almost all carriers and it's open source which has proved to be a thorn in Apple's side as well even after the new "Jail break." rules. Releasing the i-phone to other carriers seems the logical next step. Disclosure: My whole family use Evo4g and I'm long Sprint (S). I still think the evil Evo should have been named "Borg." LOL.
    6 Oct 2010, 06:31 PM Reply Like
  • Dialectical Materialist
    , contributor
    Comments (4600) | Send Message
     
    SA member Granger posted this link in another thread:

     

    www.miamiherald.com/20...

     

    It describes activity by some condo associations in Florida to force banks to either forego their claim on a condo in default (thereby giving the association title free and clear due to the default in association fees) or hurry up and foreclose already which forces the bank to pay up to one year's worth of association fees that are in arrears. Apparently in at least a few cases, banks are letting the properties go just to avoid paying a few thousand in fees. This means associations may get some resources to help them stay solvent, but it also suggests the real value of these properties is next to nil.
    6 Oct 2010, 04:47 PM Reply Like
  • optionsgirl
    , contributor
    Comments (5038) | Send Message
     
    DM, no way do I agree with your interpretation that it means the unit is worth next to nothing. Here's the critical text that tells me otherwise:
    ``Many of our association clients are already starting to use it,'' said attorney Ben Solomon, of Association Law Group. ``The only criteria is that the association has title to the unit through its own foreclosure process and the mortgage holder has not initiated foreclosure yet.''

     

    In the foreclosures I've seen ( which is quite limited, I am not holding myself out as any kind of authority) the Lenders are far more likely to initiate proceedings, and many of the associations are laggards in that regard, hoping to be paid by the new sale.

     

    To me, it seems the Association has to be in strong financial shape to initiate the foreclosure and incur the expenses, carry the unit, and would be protecting the prices of the units by foreclosing first. That's just how it strikes me.
    6 Oct 2010, 06:05 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    Oy, Gee, DM: Greetings. I interpret it similarly O.G. as foreclosures are often lengthy and expensive undertakings. While DM is likely correct in looking at those properties being worth significantly less than when they were purchased I wouldn't say they are essentialy worthless either.
    6 Oct 2010, 06:39 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    Adulterated Press (AP) is reporting that Verizon (VZN) will roll out a 4G network on the New York Washington D.C. corridor. They will include 38 cities including Chicago, Atlanta, Houston and some cities in CA. I'm wondering if they will face significant initial problems as these things frequently do when starting out?
    6 Oct 2010, 06:54 PM Reply Like
  • Dialectical Materialist
    , contributor
    Comments (4600) | Send Message
     
    Og and Robert:

     

    An example given in the article was a $150,000 condo that is now worth $35k. The bank walked away from it instead of being on the hook for something like $5,000 in fees. Why is the bank leaving $30k on the table? Is it because the hassle of foreclosure is not worth $30k? Or is is that they don't want to be stuck with a property that is bordering on worthless? For that matter, isn't $30,000 bordering on worthless?
    6 Oct 2010, 09:27 PM Reply Like
  • Mark Bern, CFA
    , contributor
    Comments (5150) | Send Message
     
    Author’s reply » Here are my thoughts on the condos, having owned and rented out a condo or two in my day. It's all about the numbers: $35k less $5k leaves $30k. But then let's take it a step further: renovation will probably cost another $5k and the foreclosure legal fees can run $10k, even on a small property. There may be unpaid utility bills on the unit and water/sewer usually are allowed to get liens against the property that need to be paid at closing. I have been running into bills of $800 to $3,000 on water and sewer if there have been leaks or the toilets keep running. Sounded crazy to me on the first one, but now I'm getting used to this kind of crap. The previous owner may have made partial payments every other month just to keep the water from being cut off. The interest and penalties often add up to more than the water usage. Then there are closing costs and realtor fees. They already have a loss in excess of $100k on the mortgage and don't want to put more money into the lawyers' pocket or the utilities pocket or the contractors' pocket or the associations pocket in a market where nothing is selling. To you or me, it's definitely worth $35k because we would be willing to hold it long term and eventually get a decent profit. For the bank, it's not worth it because they need to turn it over and that just isn't happening. So they walk away. I've ended up with a few from banks where I'll eventually get $50k when the bank could have retained ownership for a mere $10k. The bank walked. Same situation. They really don't know if they are leaving much on the table or not, but they do know that they don't want to spend more money for the right to find out in a year or two (or however long it takes to sell the property). Just my two cents (oops! two bits now with inflation).
    6 Oct 2010, 10:09 PM Reply Like
  • Dialectical Materialist
    , contributor
    Comments (4600) | Send Message
     
    Makes sense to me.

     

    BTW, I was pleased to see that some condo associations were doing what they could to protect their members. Having a couple dozen vacant condos awaiting foreclosure hurts all the residents. If they have the ability to get these properties back under their control, and at least rent them out, more power to them. I wasn't trying to be insulting by saying "these things are worthless" but was simply making an observation that they can't be worth much if the bank doesn't even want to be bothered with the process. But the real crux of the piece I think was a positive note about what some folks are doing to help stem the tide of devaluation that is ruining lives and livelihoods.
    6 Oct 2010, 11:00 PM Reply Like
  • optionsgirl
    , contributor
    Comments (5038) | Send Message
     
    Not to worry, DM, I don't think anyone thinks you are being insulting.
    We're talking about a friggin epidemic. I do see opportunity in such units, so long as the association is solvent. I can't tell you how many associations aren't. IMO, that's when the unit is worthless, when the buildings can't be maintained.
    But what I don't understand is why the banks don't negotiate to keep the owners in there rather than foreclose and walk away? Is it better to close it out irrespective of the loss? Is it necessary to keep their ratios?
    7 Oct 2010, 12:09 AM Reply Like
  • Mayascribe
    , contributor
    Comments (10502) | Send Message
     
    You guys know by now I'm in cautious bullish mode right now. When I get this way I go technical. Checking the charts I see a potential "diamond" forming in the S&P. History shows this formation is short term bearish.

     

    Even though I remain cautious short term bullish, for reasons previously explained, I placed some fairly tight stops on most of my gamer positions tonight.
    7 Oct 2010, 01:03 AM Reply Like
  • Dialectical Materialist
    , contributor
    Comments (4600) | Send Message
     
    Many banks claim they do try to negotiate. I think in a lot of cases the "home owner" has moved on. Some folks will continue to live in a place as long as possible, but I think others must just want to move on -- move in with friends or family and get a new start.

     

    To my mind all the extend and pretend we've witnessed does damage to the cause of banks and home owners working together. If we could get a true and rapid price discovery, everyone would know exactly where they stood and how much give and take there should be. But all these measures to float the bobbin for as long as possible lead to unrealistic aspirations and delay workable solutions. If everything had crashed and found bottom last year, banks may be very much willing to get $1 for $5 and mortgagees might also be willing to continue to make (modified) payments knowing they could one day be right side up. Investors would be interested in seeking a return, since they would feel pretty secure that there wasn't another 30% of downside to go, and we'd already be climbing back up out of the pit. Right now investors, mortgagees and even banks are hostage to the uncertain future of the housing market. Our economy has not "come clean" and is instead just caught in a circular political drama ("It depends on what the definition of 'biz' is.")

     

    I think everyone (especially banks) are afraid of the truth, but coming clean would be so rewarding. If I were a political cartoonist, I might draw a huge band aid with the words "Housing Market" on it and have it stuck on a map of the country with someone saying, "You know it hurts worse if you peel it off slowly."
    7 Oct 2010, 01:05 AM Reply Like
  • FocalPoint Analytics
    , contributor
    Comments (6190) | Send Message
     
    Don't forget the special assessments situation... The frequency of special assessments is an excellent indicator of the financial health of the HOAs reserve funds....

     

    I was once the president of a 750 unit HOA. Previous management had not raised dues for ten years and cut corners on required maintenance. The owner/ managers were just playing the RE market going for a pop, so they wanted to minimize out of pocket.

     

    You would not believe what I found when I started reading the reserve reports. Which by the way were badly formulated and did not even add up correctly.... The place was falling apart!
    7 Oct 2010, 06:24 AM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    Much of the answer to the riddle lies in the byzantine bureaucracy which banks, real estate brokers, government and law firms have erected over the centuries to handle these matters.

     

    Internally, large banks have created "right hand" and "left hand" situations which are killing their profitability now, though perhaps they might have been a good idea during the good times.

     

    Management positions exist which are remunerated based upon a "successful" foreclosure, for instance - with the measure of what constitutes a "success" often turned upside down by bad assumptions. So the bank starts to avoid these types of foreclosures because they KNOW that processing them will result in large commissions and bonuses being paid to their own idiotic bureaucracy. Like massive amoebas, these 2Big2Fail banks perpetuate nonsense rather than adapt to a new reality.

     

    Other placeholder's in the cycle of foreclosure also benefit from performing their "function" rather than seeking a logical outcome - and this even includes an outcome which saves the bank/broker/etc money.

     

    Taken at some macro level, this constitutes nothing short of a suicide pact. Seeking logic in the process will only, LOL, drive you crazy.
    7 Oct 2010, 09:08 AM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    That's a good one DM. I wonder if TB would be interested in doing a toon and sending it to John Lounsbury for the weekly humor piece?
    7 Oct 2010, 10:27 AM Reply Like
  • Mayascribe
    , contributor
    Comments (10502) | Send Message
     
    Magazine comment: Roy Halliday's no hitter today was the most masterful pitching I have ever witnessed in post season play. I have played in, been to, or seen on TV thousands of baseball games and today's was simply the best, most dominating performance I have ever seen. We're not talk'n about some guy just throwing heat. We're talking about the true art of pitching. How Halliday made that cowhide dance, dart and befuddle was truely an athlete approaching art form.

     

    For you folks who don't follow the sport, get this, it's been 54 YEARS since Don Larsen through a no-hitter in post season play.

     

    Congrats to Doctober Halliday!

     

    ####

     

    A sports nut (you should see this guy's basement!) and sports blogging pal of mine texted me. He GAVE away tickets for today's game. Is he pissed! Those stubs are going to be worth a lot a money someday.

     

    Other friends texted me that they were there. Nobody wanted to leave the stadium!
    6 Oct 2010, 11:01 PM Reply Like
  • one eye
    , contributor
    Comments (647) | Send Message
     
    "through" a no-hitter

     

    Can't wait for you book to come out :)
    7 Oct 2010, 06:41 AM Reply Like
  • Mayascribe
    , contributor
    Comments (10502) | Send Message
     
    Hah! I about "through" up when I saw this! Apologies for my dislexia.
    7 Oct 2010, 03:25 PM Reply Like
  • one eye
    , contributor
    Comments (647) | Send Message
     
    before you get too enthusiatic about shorting the Euro, Please c9onsider that China is supporting not only the Euro but buying Greek Bonds as well.
    7 Oct 2010, 02:41 AM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    Correct. AND selling dollars and buying yen. Actively. I've sort of overworked this topic, but I'll reiterate my problem with plays like the EUO that require TWO variables.

     

    The EUO does not pay off unless the dollar/euro relationship alters. Correctly predicting that one side of the equation occurs may net you a loss (or break even). Its quite easy for the currency pair (dollar/euro) to both be dropping, and in that case if the dollar loses value faster than the euro, even though you correctly determined that the euro would lose value, you still lose.

     

    I am currently setting up a hedge going short the S&P 500, and plan to start installing it Friday. This hedge is less complex, having only a single variable.
    7 Oct 2010, 09:17 AM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    TB: Greetings. I was looking at that (SPXU) as well as shorting the Russel 2,000 (RWM). While the Chinese are actively manipulating the FOREX and bond markets I would guess they are setting up for something larger. All of those inverse plays including (SH) and the currency inverse plays mentioned yesterday are in play IMHO. China will reveal their straegy soon enough and all of those will be affected as well as some I haven't thought of yet. Those Chinese are as they say "Inscrutable.". LOL.
    7 Oct 2010, 10:50 AM Reply Like
  • optionsgirl
    , contributor
    Comments (5038) | Send Message
     
    Yen was at another high tonight, and gold shot up over $14 overnight.

     

    Yesterday Stewart Varney reported that there is a new bail out for home owners who are unemployed, are behind 3+ months in mortgage payments, to extend interest free loans up to $50K.
    It's supposed to be administered thru HUD.
    Options Husband made the observation that soon the richest class in America will be the unemployed underwater while they collect 50K for free, use free health services, get unemployment and food stamps, etc.
    Job creation is still on the back burner, but maybe this give away will buy another election.
    Here are some of the ugly details, most notably, what is missing, is how these people will pay it back:
    hotair.com/archives/20.../
    7 Oct 2010, 05:52 AM Reply Like
  • one eye
    , contributor
    Comments (647) | Send Message
     
    That makes you Options Wife not Optionsgirl......hehehe
    7 Oct 2010, 06:37 AM Reply Like
  • one eye
    , contributor
    Comments (647) | Send Message
     
    We are still using DXY to chart the USD.
    7 Oct 2010, 06:39 AM Reply Like
  • H. T. Love
    , contributor
    Comments (18439) | Send Message
     
    (CPST): Some major competition in the space?

     

    GE Buys Dresser for $3 Billion

     

    www.dailyfinance.com/s.../

     

    ... GE is most excited about Dresser's gas engines, which it claims will give it "best in class, low-emissions, fuel-flexible mechanical-drive technology that can be applied to the small-scale compression segment for customers in the oil and gas sector.

     

    With CPST just recently getting big orders from Dominion for pumping stations, I have to wonder how well CPST will handle the competition from a company with the resources (R&D, marketing & sales, cash, ...) of GE.

     

    Of course, with $25 BN still available for buy outs, chatter immediately started that CPST was a target. Since I currently don't know any details of the Dresser equipment, I have no idea if GE would view CPST as a complementary acquisition. CPST does have a distributor network, lots of patents, market share, and irons in the fire (auto, truck, marine, ...) but I haven't yet seen anything credible that would indicate CPST would be desirable for GE.

     

    HardToLove
    7 Oct 2010, 09:01 AM Reply Like
  • H. T. Love
    , contributor
    Comments (18439) | Send Message
     
    (MNEAF): Minera Andes Announces Discovery of 5 Kilometres of New High-Grade Gold/Silver Veins at San Jose Mine

     

    Dow Jones, so I don't know how long the link is good for.

     

    www.djnewsplus.com/art...+

     

    HardToLove
    7 Oct 2010, 09:14 AM Reply Like
  • Silentz
    , contributor
    Comments (714) | Send Message
     
    Let the carveouts begin! 30 firms have been issued waivers for certain provisions of Obamacare. They're claim is that they'd have to drop employees from coverage because of the cost of the new system. HHS agreed and issued waivers so the employees wouldn't lose their coverage. I'm so friggin' angry this morning, I could chew metal and spit nails.

     

    www.usatoday.com/money...
    7 Oct 2010, 10:25 AM Reply Like
  • H. T. Love
    , contributor
    Comments (18439) | Send Message
     
    With dollar weakness causing increases in various commodities, including foodstuffs, and steel prices weakening, the "chew metal and spit nails" could become the only affordable breakfast for folks outside the top income tiers in this country.

     

    HardToLove
    7 Oct 2010, 10:43 AM Reply Like
  • Mark Bern, CFA
    , contributor
    Comments (5150) | Send Message
     
    Author’s reply » I know a good dentist if you can't control the urge.
    7 Oct 2010, 05:34 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18439) | Send Message
     
    The important question: Is he a publicly traded company? I'll buy shares.

     

    HardToLove
    7 Oct 2010, 05:38 PM Reply Like
  • one eye
    , contributor
    Comments (647) | Send Message
     
    we own it from $0.72, about 4 months ago.

     

    Been pushing it but no takers that I know of here.

     

    been thinking of selling 1/3rd to get initial investment out but am hesitand considerin what it did in the face a decline in gold.
    8 Oct 2010, 04:55 AM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    So, ObamaCare has joined our Income Tax laws as an openly corrupt spoils system rife with special treatment...

     

    How special.

     

    My, my, I MUST say I am simply SHOCKED!

     

    Who woulda thunk it?
    7 Oct 2010, 10:41 AM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    No surprise there you didn't think that those on the "Freinds of Carlotta." list would be allowed to suffer did you? I'll bet McDonalds (MCD) wasn't on the list. At least the unions (Including mine) were up front and had their carve out placed directly in to the bill thus avoiding the need to bother Karen for a waiver. I don't use the "Cadilac insurance." provided by the company however. Being a military retiree I kept Tricare Prime for life (Thats the one congress uses.) which was never subject to the Obamanation of Obama care and is much better (And cheeper.) than the company's plan.
    7 Oct 2010, 11:10 AM Reply Like
  • optionsgirl
    , contributor
    Comments (5038) | Send Message
     
    MCD got a waiver. So did Aetna and Cigna.
    7 Oct 2010, 03:34 PM Reply Like
  • Mark Bern, CFA
    , contributor
    Comments (5150) | Send Message
     
    Author’s reply » Isn't a bit ironic that Cigna and Aetna would need exemptions for their "healthcare" employees"? Or is it for other personnel?
    7 Oct 2010, 05:37 PM Reply Like
  • Silentz
    , contributor
    Comments (714) | Send Message
     
    seekingalpha.com/artic...

     

    An article with a perspective on Molycorp(MCP).
    7 Oct 2010, 10:45 AM Reply Like
  • Moon Kil Woong
    , contributor
    Comments (11527) | Send Message
     
    Obamacare: Everyone should be granted waivers except the providers who should still have to cover pre-existing conditions and figure out why aspirin has to cost $85 in the hospital and a night in a cramped hospital runs at $4,000 per night. Please Hilton, help them.
    7 Oct 2010, 11:25 AM Reply Like
  • optionsgirl
    , contributor
    Comments (5038) | Send Message
     
    Rob and I are running medical vacations in Afghanistan. Call us if you need a break. Don't like Afghanistan? How about Pakistan?
    Just one thing, you run the risk of an incurable bacterial infection that could be lethal. Those hospitals are hotbeds of infectious disease.
    But hey, those are the risks one takes without a waiver.Bring your own aspirin!
    7 Oct 2010, 12:09 PM Reply Like
  • lower98th
    , contributor
    Comments (1420) | Send Message
     
    Hilton: Fed loses $180million on Hilton restructuring.
    7 Oct 2010, 12:14 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    I was so looking forward to the Mumbai facility until that nasty bug showed up. Afghanistan it is to reduce overhead you know. Book now to avoid the stampede.
    7 Oct 2010, 12:24 PM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    Took profits on (GWMGF.PK).

     

    Close to all house money in Great Western now.

     

    I was thinking we would see the critical turn in the market tomorrow, but hey, maybe this is a sneak preview.
    7 Oct 2010, 12:19 PM Reply Like
  • optionsgirl
    , contributor
    Comments (5038) | Send Message
     
    IMF and World Bank will help calm trade war and currency fears at the G7 meeting Friday. (There's a "feel good" group for a down Friday).
    news.yahoo.com/s/nm/20...;_ylt=AmsQzPnNyY8a9L8v...
    7 Oct 2010, 12:30 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    Multiple sources are reporting that the red sludge which escaped from a hungarian aluminum producer has reached the Danube river. This story is ongoing as this spill may affect ten or more European nations along Europe's longest river. The sludge has already fowled several smaller water ways and presents significant health and environmental risks. While they report no damages as yet it seems inevitable that ground water will be contaminated as well as surface waters already mentioned. Now the questions are what companies are likely to be involved in cleaning up this mess and how can we play it for short term gains? I know that sounds mercenary but the whole point here is making as much as we can as fast as we can isn't it?
    7 Oct 2010, 12:49 PM Reply Like
  • Dialectical Materialist
    , contributor
    Comments (4600) | Send Message
     
    I just wonder how long it will be before terorists wise up to all the ways you can cause misery and injury and death with little or no expense or risk. There are probably hundreds of thousands of soft targets like this world wide, but terrorists think the only way to do damage is to bomb a plane or a UN building. I'm not rooting for a smarter terrorist by any means, but when these kind of events have such far reaching consequences, it makes me wonder what the world would be like if someone in the know decided to make life difficult.

     

    I don't have any specific investment ideas since the response is liable to be very spread out and inconsistent, but I do wonder about the industrial impact of the company involved and those in its local orbit.
    7 Oct 2010, 02:49 PM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    Looking at the Danube, I can see where this would affect the following countries:

     

    Hungary, Serbia, Romania, Bulgaria, Moldavia and Ukraine.

     

    Upstream nations would not be affected.

     

    Since "dilution is the solution" for these types of spills, and rivers are uniquely vulnerable (unlike oceans) this could have an impact on agriculture in the region, though fortunately this occurred at a time when they are presumably over the bulk of their growing/irrigation season.
    7 Oct 2010, 03:35 PM Reply Like
  • one eye
    , contributor
    Comments (647) | Send Message
     
    Calgon Carbon and possibly Clean Harbors, hell maybe GE, they own a lot of property where the river flows.

     

    Btw, I swam in the Danube when I was young.
    8 Oct 2010, 05:00 AM Reply Like
  • optionsgirl
    , contributor
    Comments (5038) | Send Message
     
    They're using Vinegar to alter the ph balance of the sludge.
    So far, no dead fish or animals are in the Danube.
    Here's the latest:
    news.yahoo.com/s/ap/eu...;_ylt=AkRK5Wp8RKv1PvIC...
    7 Oct 2010, 01:26 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    I took a quick peek at the inverse plays we were discussing yesterday. All of them except (YCN) had started to creep up. Could be an interesting day tomorow when BLS releases the numbers. I also poked around the European distillers but didn't find anything of interest from an investment stand point (Vinegar). Oh well it's probably too late for that play in any event.
    7 Oct 2010, 06:33 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18439) | Send Message
     
    (CPST): New that GE bought Calnetix Power stuff and CPST will still get the goodies, implying a cooperative situation, just bumped CPST on huge volume in a 5 minute period (1.75MM shares) when volume to that point had been 640K the whole day, until 14:25 EDT. Price ranged as high as $0.85.

     

    www.prnewswire.com/new...

     

    HardToLove
    7 Oct 2010, 02:46 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18439) | Send Message
     
    (CPST): Inching up on good volume again. Keep in mind that shorts, as of last report were around 24MM, IIRC. This *might* be start of a significant move, or just a couple day's pop.

     

    I did my part - added 9.85K to take advantage and help hold the price up and scare the shorts a bit?

     

    HardToLove
    7 Oct 2010, 03:34 PM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    GOOOOOOOOOOOOOOAL CapStone!

     

    LOL.

     

    I have put (CPST) into my "forget its there" long term category, so its nice when I get good news like this, particularly on a dreary day.
    7 Oct 2010, 03:38 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    Dontcha love it when a plan seems like it's coming together. Now if (NVAX) and (GWMGF) would live up to their potential we could all join Maya in that gated community in the Bahamas. Spell check checked out awhile back.
    7 Oct 2010, 03:48 PM Reply Like
  • FocalPoint Analytics
    , contributor
    Comments (6190) | Send Message
     
    Hi HT
    On that CPST news where GE has to pay CPST to use the intellectual property…. do you think this might set off a short squeeze on the shorts?
    7 Oct 2010, 04:19 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18439) | Send Message
     
    User,

     

    With the high interest and days to cover, there's a good possibility.

     

    Shorts have to be seriously considering risk management on (CPST) right now.

     

    1) They shorted at prices well over $1 and higher with very low borrowing costs,
    2) Recent price was as low as $0.622 and the *smart* ones started covering there (we'll know if there was a lot of covering on 10/11 when the next short interest is available),
    3) CPST has been improving margins and cash flow for several quarters,
    4) Substantial expansion of distributor network,
    5) Irons in the fire include joint effort with "a fortune 500 company",
    6) Recent news of China applications and *5* (IIRC) Chinese distributors with China apparently undertaking a *huge* "green" effort, including shutting down less-efficient and less-green factories, regardless of the "pain", it seems,
    7) Etc., etc., etc. (Yul Brynner, The King and I?).

     

    I think we need to see one piece to have a *strong* possibility of a squeeze - continued upward movement in PPS, with supporting volume, over the next couple of days.

     

    If we get that, I think we get a short squeeze. If we don't get that, I think not.

     

    Now, I do expect that some shorts will try to "hammer" and see if the price can be crushed again - testing the strength of sentiment with this, and other, recent news. It's easy to do - they can dribble out a few hundred shares at a time that take the bid over and over. Compared to the ~25MM short shares, this is a low cost experiment on their part. If there are insufficient buyers, they can depress the price this way, take heart and go on a short rampage again.

     

    If the buyers overwhelm the short's efforts, ...

     

    "The Squeeze Is On" (Hm, reminds of a song title - The Heat Is On?).

     

    HardToLove
    7 Oct 2010, 04:47 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18439) | Send Message
     
    Spell check is smarter than us. It's already gone to that gated community with Maya!

     

    Wier on hour own frum this pint frwrd.

     

    HoardTooLuv
    8 Oct 2010, 05:41 AM Reply Like
  • FocalPoint Analytics
    , contributor
    Comments (6190) | Send Message
     
    Cleveland BioLabs (CBLI) .... I have been so distracted by the idiot that I forgot to mention this one... check out its chart.
    7 Oct 2010, 03:19 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    User: Greetings. Interesting little company and chart. It has outperformed it's peer group over the last six months and looks to have a downside gap just under $5. I think I will keep an eye on it. Thanks for the tip.
    7 Oct 2010, 03:36 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    My bad I almost missed that sharp dip that filled the gap. Pretty impressive chart actually. Good find User.
    7 Oct 2010, 03:45 PM Reply Like
  • lower98th
    , contributor
    Comments (1420) | Send Message
     
    DM: I looked into the condo article you posted, and the law group. Very interesting. See: www.prnewswire.com/new... . Apparently they combine the foreclosure procedure with a lawsuit to force the first lienholder (bank), to take the property or forego the right to do so. In the past HOA's have not liked to foreclose, because (by state) they were second lienholders, and if they foreclosed the condo was still subject to the first mortgage before the HOA got anything from the sales proceeds, except the 1 year of dues, from what was left. This is really interesting in FL (non-recourse) for the former homeowner, as the bank's right to recourse rides on them proving they got fair market value for the condo. Hard to do if they abandon it.
    7 Oct 2010, 04:15 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18439) | Send Message
     
    (CPST): A pretty good picture of the HEV Class 8 truck.

     

    investorshub.advfn.com...

     

    HardToLove
    7 Oct 2010, 06:32 PM Reply Like
  • H. T. Love
    , contributor
    Comments (18439) | Send Message
     
    (EGPLF): Eagle Plains Resources, a Canadian gold and silver miner, got a good pop today on some drilling results. ~280K average volume, pink sheets, ~$0.23 recently. A junior.

     

    Web site: eagleplains.com/

     

    News (with another link to details): eagleplains.com/10.10....

     

    Not having seen this one mentioned here, I thought I would bring it up for your consideration and comments.

     

    HardToLove
    7 Oct 2010, 06:40 PM Reply Like
  • tripleblack
    , contributor
    Comments (13589) | Send Message
     
    Added to my watch list. Thanks HTL. When I review it, I'll post up some commentary.
    7 Oct 2010, 06:45 PM Reply Like
  • robert.b.ferguson
    , contributor
    Comments (10612) | Send Message
     
    Tomorow will be a very busy day but I will try to get on tomorow after the close. It is that time of the week so I will wish all of the Gades a most enjoyable week end in case I don't find the time for posting tomorow. BTW Maya Philly is looking very strong for the NLCS and while the Twins had a stellar collapse yesterday I still think they may get to the ALCS. Damn Yankees! See you folks next week in a brand new show.
    7 Oct 2010, 07:14 PM Reply Like
  • Mark Bern, CFA
    , contributor
    Comments (5150) | Send Message
     
    Author’s reply » Please go to QC # 106 at the following link:

     

    seekingalpha.com/insta...
    7 Oct 2010, 10:10 PM Reply Like
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