jack matalka

12 Comments

    • Don't Believe the Lies: Ride the Bank Stocks Bull [view article]
      I think the negative bloggers here missed the bottom of the financials. They must have missed shorting oil at 140 as well. Lost out on both sides
      of the money making machine. The only thing left for them to do is wish, wish, wish. Soooooo if you are not in financials at yesterdays bottom, its still not too late, todays bottom is also good.
      you don't need to BAD MOUTH the ones who are in it and laughing all the way to their WM, BAC, etc.       Aug 15 12:05 PM
    • WaMu: Intensification of Stealth Buying [view article]
      The comments in this blog failed to mention the reported story that a sovereign fund offered WM and others up to $29 billion to purchase their portfolio of foreclosed mortgages (bank owned) up to 60% of forclosure value. WM turned the offer down. Do WM people know something we don't? Aug 14 06:37 PM
    • Five Stocks to Own Now that the Dow Has Bottomed [view article]
      2arose
      These are my personal observations as I stood in line at a WAMU
      branch in California. I trust my eyes a lot more than the ramblings
      of the experts, nevermind how many stars they pass out.
      You might want to ask the 200,000+ Ca. state employees, that had their wages reduced to minimum wage, if we live in a "Golden State".
      Aug 04 12:43 AM
    • The WaMu Mess: No Surprise Here [view article]
      Vern you failed to state that the 60b in loans is 20b less than a year ago. They been paying it down. If you want to be credible try some supported facts. You see we the investors are a lot smarter than what you and the shorts think. Yes we took it on the chin since last October. But we are in it for the long term. WM has a head ache right now. But head aches sort of go away with time.
      So if you are shorting as I suspect along with 274m as of 10 Jul 08
      I feel for you. Thats all you get from me. You should have not painted yourself into the corner. The only thing you can do is buy back double what you shorted. Then wait it out.

      Aug 01 02:05 PM
    • Five Stocks to Own Now that the Dow Has Bottomed [view article]
      I don't know what state you been visiting. Here the lines are as long as ever. Most have checks in their hands suggesting deposits not withdrawals. I think Schulle is right on target. I don't trust the shorts arguments about the financials cause they painted themselves into the corner and can't get out. Just take a look at WM revenue for the quarter 20B on a solid portfolio of 176B that better than 10%. The one time write offs are book entries and not actual losses. They are set aside incase they have losses. This money still earns them revenue where its at. Aug 01 01:55 AM
    • Buyout Not the Best Option for WaMu Shareholders [view article]
      Foreclosed mortgages are not a 100% total loss to the financial institutions. There are always assets like houses, apartment buildings, etc. These are valuable properties ( bad areas are immediately sold not carried on the books of most financials institutios) that have market value normally at 120% of the foreclosed loan. These properties are bank sold. Often multiple bidders are worked to bid up the sale price by brokers. Most are sold within 90 days of forclosure. Hey it ain't so bad!!!
      Jul 31 12:03 AM
    • Of Rumors and Bank Runs [view article]
      I bow to you in amazement. Putting your name next to the garbage
      that comes from this column. The investing public is aware of what the shorts are doing. They'll wait them out. Sooner or later they have to cover what they (borrowed or believe borrowed) and then we'll see who gets the last laugh. There are 400 millions shares shorted recently. 85% of WM is institutionally owned long term. Not available for trade. 15% available for trade. Thats about 200 million. Do the math. Too many shares shorted not enough
      available to buy back. Its a waiting game. Holders vs shorts who will give first? My money on the shorts. They'll give first and stampede the available shares and send the stock to double what is now. Your guess is as good as my guess.       Jul 29 05:17 PM
    • WaMu’s Cards: Restructuring Is About the Only One Left [view article]
      Another naked short looking for WM shares to borrow. 85% of WM shares are held by institutions long term. Only 150 million available to trade. There are 400 Million naked shorts looking to cover their derrier
      and can't find them so they trash WM to keep it at 3 dollars a share. That gives them few million shares to can borrow and purchase to cover.
      Can you imagine what would happen to WM price if all the naked shorts try to cover their shorts all at the same time? Think about it. Sooner or later they'll have to.       Jul 28 01:48 PM
    • Banking Sector: Band-Aids Just Won't Do It [view article]
      MW actually pocketed 9.64 dollars a share in profits this past quarter.
      due to a one time writeof which is not really a write of Just changing the location of the cash from one account to another account for the incase arguement. The incase argument says that if we have to write of the bad loans we can do it without having to spend any money to write off the loans. Which again means we can juggle the accounts. Which means we'll be able to foreclose and turn the forclosed property to our sell dept which will sell it at a profit/loss and recover most of our money through the sale and later show big profits since the whole thing was written off earlier and now the new money is all profits. Okay what does all mean. It means that soon they will run out of bad loans to foreclose on and
      the people who stayed with the stock all 85%(institutions) will end up laughing all the way to the bank(WM) to deposit their big huge profits. While the cry babies will cry all the way to sleep. The shorts whether naked or dressed will recover some of their capitol but not all since there isn't enough shares to buy back out there.       Jul 27 03:15 PM
    • As WaMu, Wachovia Ready Earnings, Comparisons to Wells, USB Are Telling [view article]
      Guilt by association is the theme in this article. No supporting facts.
      WB and WM moved up the past week due to the big banks reports and they will suffer because of anticipated write downs by WB. Not a single fact about WM except the mentioned of it with either BA or WB by association and implication. This article is no different than the stuff written by the naked shorters when rumors flew.
      This is another form of this sham. Guilt by association. bad, yes. as bad as you imply, NO.

      Jul 22 12:44 AM
    • What Pushed the SEC to Tighten the Rules - Now? [view article]
      Short borrowing and trading is okay for me so long as the borrowing is approved by the owner of the stock being borrowed. The rules today allows for the market maker/brokers to assume that they can borrow the stock and short it as many times as they wish without approval from the owner. I like to see explicit written agreement indicating that the owner allows this to happen. Maybe actually paying the owner for use of his stock in that fashion. Jul 20 09:23 PM
    • What Pushed the SEC to Tighten the Rules - Now? [view article]
      SEC Naked Shorts(NK) rules prohibit shorting unless there is an uptick in stock being gang raped by hedge funds. The uptick suggests buy activity of this same stock. Meaning the NKs must cover there NK positions since the underlying borrowed stock no longer existed (changed owner) at their broker/bank market maker. If this is not happening (can be easily verified by SEC investigators), and the NKs are benefiting from both end of the trades, Then a conspiracy to defraud is in the making as well as a breach of inside trading rules. Lets put an end to this activity by finding the perpetrators and show them no mercy. Jul 18 05:06 AM
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