NARSpin

Financial Focus - Fast Money Recap (7/22/08)

Great wrap. Thanks.

Benefiting from the Oil Correction

DTO is a better pure short crude play.

Positive Analyst Call Should Give AIG a Lift

Go AIG. Unprecedented value opportunity here.

Another Gift from the FASB

>Many of the Level 2 assets are marked to
> unrealistic prices from indices with no good arbitrage, like the ABX.]

This is a poorly researched article. That is completely inaccurate. Banks are not marking to the ABX. They may use the ABX as a guide, but do not mark to it.

Proof is in the pudding - UBS, Citi and Goldman all dumped assets in a firesale that they had carried on the books at *SIGNIFICANT* difference to what they were ultimately sold for. In UBS case, they were carrying toxic alt-a paper at .96, and sold to Billy Gross for somewhere around .80.

Stock Valuations On the Rise

And that's *WITH* cooking the books and "earnings" (cough) like LEH had.
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Generally, "forward earnings are based on optimistic assumptions aböut earnings growth." (WSJ, today) "...If earnings fall 17.5%-as they have, on average, during the past three years that included recessions, then the forward P/E ratio rises to 20, undermining the idea that stocks are cheap. ...the market does not even seem to have priced in much of an earnings slowdown yet."


www.marketwatch.com/ne...

Act Now, It's the Psychological Rally

You forgot to mention the historical short interest . Just look at UBS - short interest more than DOUBLED in a two week period from 4,397,821 to 9,728,767 . That's a HUGE move on the short side.

The S&P had the highest short interest EVER. With no uptick rule, and a bunch of noobs shorting for the first time, this isn't unexpected.

www.nasdaq.com/aspxcon...

Internet Hoax Gooses Stock Market

LOL. Kass must be pissing in his pants. The worse thing about it is he probably sat on the sidelines drooling at all the easy short money he could make due to concerns about the SEC.

This will go down as the April fools rally.

Get Out of Commodities - Barron's

Isn't Baron's the rag that ran the front page headline to buy the banks, right after the pop? Looks like they are on the losing side of that call. LOL

How to Trade This 'Bear' Market - Barron's

This is once again one of Douggie Kass's classic "too early" moments. If he covered MER,MS,LEH before Friday - he missed a ton of easy money. Expect Monday to be no different.

Citigroup Bottoming - Plus Some Free Advice for Meredith Whitney

How can you call a "bottom" without doing any kind of analysis on their portfolio?

Vornado's in Trouble if Penn Station Deal Fails

great article. keep up the great work!

Monoline Duoline Rescue Plan: 5th Time the Charm?

This is just another suckers rally drawing in some more "bottom fishers" trying to time the bottom. I almost feel sorry for them. It's actually good to shake out these players - as it will eventually allow a real bottom to form.

Could Citigroup Be Any More Dysfunctional?

what a dog

Financials Offer Patient Bulls Many Opportunities

uber spin at it's finest.

Housing Market Tracker - Commercial Real Estate Outlook

Lawrence Yun should try out at the comedy club amateur night. LOL