So...GS

[yoyomama]

Is it done tanking? I say not yet.

[IIC]

Is it done tanking? I say not yet.

Civil suit...Big Deal...I wanna see some criminal charges.

Altho the threat of jail time wouldn't eliminate all the crooks on Wall Street I think it would reduce a lot of the shady activity.

So someone gets away with a Billion dollars and the worst that happens if they get caught is a $500,000,000 Fine...Not a whole lot of risk there.

[yoyomama]

Civil suit...Big Deal...I wanna see some criminal charges.

Altho the threat of jail time wouldn't eliminate all the crooks on Wall Street I think it would reduce a lot of the shady activity.

So someone gets away with a Billion dollars and the worst that happens if they get caught is a $500,000,000 Fine...Not a whole lot of risk there.

Heh, I hear ya.

I just want to know if I should short it tomorrow.

[peanuts]

Heh, I hear ya.

I just want to know if I should short it tomorrow.

I think that everyone and their brother will be looking at this trade on Monday. I know I will be looking at it in the morning, and then again towards the close. I traded it on Friday for some quick cash.

How do you think it will trade tomorrow?

My guess is that it will dump at the opening and then fight back until lunch... after 2:00 the action should pick up again. But who knows what will really happen??

[skiracer]

i think your best shot at a short play in the financials are BAC and C, especially C

[yoyomama]

i think your best shot at a short play in the financials are BAC and C, especially C

I know why you want C shorted. You're still short aintcha? Kiddin.

I actually just bought some C Jan 11 $4 leaps for an earnings gamble. I figure if they miss or the market's been doing what it's been doing(doesn't care if it beats it) I've got a few months for C to recover...or not.

[mrmarket]

If they settle and pay a fine, the penalty would be miniscule compared to the loss in market cap if they don't.

[skiracer]

I know why you want C shorted. You're still short aintcha? Kiddin.

I actually just bought some C Jan 11 $4 leaps for an earnings gamble. I figure if they miss or the market's been doing what it's been doing(doesn't care if it beats it) I've got a few months for C to recover...or not.

yes yo i am still short C from $4.24. you just might be in early there yo. maybe waiting might have gotten you a cheaper entry. i didnt know about this suit that the govt brought against GS but from what i have been reading it might just be the tip of the iceberg on alot of shady dealings. all the high priced lawyers will be lining up to place class action lawsuits against the the big banks like GS, BAC, C, JPMorgan which could make the hedge funds and institutional money shy away for quite some time. i think exhibiting patience with the financials might be the best MO right now except for being or going short with them. in light of what has just come to light over the last few days would you or anyone be considering going long on any of those big banks this coming week.

[billyjoe]

If they settle and pay a fine, the penalty would be miniscule compared to the loss in market cap if they don't.

Yep,
They should do anything to keep the GS name out of the news.

---------billy

[yoyomama]

yes yo i am still short C from $4.24. you just might be in early there yo. maybe waiting might have gotten you a cheaper entry. i didnt know about this suit that the govt brought against GS but from what i have been reading it might just be the tip of the iceberg on alot of shady dealings. all the high priced lawyers will be lining up to place class action lawsuits against the the big banks like GS, BAC, C, JPMorgan which could make the hedge funds and institutional money shy away for quite some time. i think exhibiting patience with the financials might be the best MO right now.

Yeah, C had stopped tanking during the day & I thought okay but then afterwards I thought well maybe not too bright...GS going down gonna pull the rest of 'em. Then I think okay the gov still has a bazillion shares...can they be this stupid? Don't answer...I dunno. At least the Calls are several months out.

[skiracer]

Yep,
They should do anything to keep the GS name out of the news.

---------billy

I dont think it is going to be anywhere near that easy. since the can of worms has already been opened and the stench is out in the air the class action suits are now going to pile up mucho pronto. the best part about it is that Paulsen is right in the middle of it. this is going to be interesting to see if the govt does the right thing with these crooks or if they let them off with a slap on the wrist. they knew exactly what they were doing and then they took the bailout money on top of it all after propogating the whole thing.

[skiracer]

Yeah, C had stopped tanking during the day & I thought okay but then afterwards I thought well maybe not too bright...GS going down gonna pull the rest of 'em. Then I think okay the gov still has a bazillion shares...can they be this stupid? Don't answer...I dunno. At least the Calls are several months out.

that was the first thing that came to my mind yo. they own 7.7 billion shares of C and they start this lawsuit now a day or two away from C reporting earnings and when they are supposed to start unloading their shares. that in itself almost smells fishy. i wonder if the govt is shorting C and the rest of them. i wouldnt put anything past any of them. they are all thieves.

[wooish]

Yeah, C had stopped tanking during the day & I thought okay but then afterwards I thought well maybe not too bright...GS going down gonna pull the rest of 'em. Then I think okay the gov still has a bazillion shares...can they be this stupid? Don't answer...I dunno. At least the Calls are several months out.

Yo

I think I've voiced this in Ski's thread when he started to short C. IMO I think they rigged the C pps up so that our government can unload their shares. I wouldn't be surprised that our government had finished unloading their shares prior to Friday's GS announcement. So the gov't unloading shares that we've all been waiting has already been done.

I could be wrong but I've already bought some C May $4 puts last Friday when market started to tank. Either way I wouldn't be surprise if C fills the gap right around $3.5 and that's when I will back up my truck and fill it up.

[yoyomama]

Interesting theories y'all. Them bastids!

[skiracer]

look at the daily chart. there is a gap right at $3.50. thats where i thought it could fall to but with this recent news who knows. i've been watching the daily volume closely over the past couple of weeks and it just hasnt been high enough for them to unload the 7.7 bil shares they are holding. i think they still own them and i can only pray that they are still of the mindset to start unloading them this week. i think the govt is stupid and that the right hand doesnt know what the left hand is doing or wants to do. so are they stupid and was it a stupid thing to open this can of worms just before they want to get rid of their shares, i would say yes! i just finished reading several articles on the google finance page and now the british and german govts are pissed off and are going to be starting their own investigations into the matter and starting their own suits.