C'mon Already

HMMM, UBS magically announced a $4 billion additional writedown today, along with an FBI probe into 14 sub-prime lenders and homebuilders who not only participated in insider trading, but who may have released "inflated" results to keep stock prices high. Foreclosures are up 79% from 06', but hey, get me a piece of those stocks!

The fed will announce an additional rate cut today. I have no idea whether it will be 25 or 5o points, but let's wake up. Our financials are a disaster. Most of these banks are broke on paper and shouldn't be allowed to make loans. I'm rooting for an implosion, at a minimum as criminal punishment for one of these lenders or builders, at a maximum for personal gain of course. A company like Google growing revenues at 70% and with $18 billion of debt-free cash loses 20% of its value, but a company like Centex posting a billion dollar loss and decreasing sales goes up 50% in a week. Yeah, that's rational.

The SB is starting to drag out. Aside from the under, I'm looking to some crazy props for this game. I will post shortly where I think the value lies. Until then, hold on tight for a possible 400-point fluctuation surrounding the fed today...... By the way, temporarily switched templates so my friggin' title would reappear for the now 9 of you who have read this, will get it back to normal when a blogger tells me how.

IOD: I'm sticking with QID for the moment, Yahoo will get hammered lowering Nasdaq today.
BOD: Watch for props
TOD: Do not go to walk-in clinic with raging appendicitis