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Old 09-18-2007, 07:22 PM   #21
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The market got a nice boost.

The market will probably quickly factor in another future cut.
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Old 09-18-2007, 08:44 PM   #22
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Really good for those unhedged international investments!

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The market got a nice boost.
The market will probably quickly factor in another future cut.
I dunno... I agree with HaHa that this rate cut has given us as much of a free pass as we're likely to get before future rate cuts are greeted with fears of the "R" word. The market has already demonstrated that it can go down quicker than it can bubble up...
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Old 09-19-2007, 03:20 AM   #23
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I dunno... I agree with HaHa that this rate cut has given us as much of a free pass as we're likely to get before future rate cuts are greeted with fears of the "R" word. The market has already demonstrated that it can go down quicker than it can bubble up...
Agreed... I was not necessarily implying a higher market. I am a bit unsure of the direction 6 months out. In fact Wall street may have already factored in the next rate cut. They seem to always think and act as if the next step has already occurred. If the next rate cut doesn't happen, expect a drop.
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Old 09-19-2007, 10:15 AM   #24
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Wow - the shorts are still covering today!

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Old 09-19-2007, 10:22 AM   #25
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Wow - the shorts are still covering today!

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I have a little sympathy for the shorts - but not much.
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Old 09-19-2007, 11:01 AM   #26
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I have a little sympathy for the shorts - but not much.
Hey, shorting has its place. But not now.

Our ER portfolio blew through a personal best yesterday with a 1.6% jump that I'd never expect to repeat... but today it's up another 1%. 6.8% YTD with the worst YTD of -2.3% last March.

Looks like one of those weeks when it's really really good to be in the market.
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Old 09-19-2007, 11:20 AM   #27
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Hey, shorting has its place. But not now.
If you are stupid enough to short banks at book value, finance companies with no liquidity issues and an attractive business, and dry bulk shippers amid historically high day rates, you deserve what you get - good and hard.
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Old 09-19-2007, 04:58 PM   #28
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If you are stupid enough to short banks at book value, finance companies with no liquidity issues and an attractive business, and dry bulk shippers amid historically high day rates, you deserve what you get - good and hard.
Right now I'm sure that at least 200-300 traders are spluttering "But... but... but... we made money doing that for the last two months!!"
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