Thursday, April 16, 2009

General Growth Properties Files BK

Not a surprise, we knew it was coming but, my interest in this filing is how it will effect the rest of the group. Many of the stocks in this sector are not only having problems but are literally in arrears on their payments to the banks as some of their lenders are just "waiting" for the turn. Note to banks, don't stand on one foot waiting. Why has the group rallied when everyone on God's green earth knows it's the next shoe to drop? Just ask the trapped longs in material and financials a year ago. When you are a trapped long, your a trapped long. Someone will blink soon and the cascade will begin. Let's get Morningstar on CNBC to opine on some five star REITS this morning, dumb asses. Keep your friends close and your SRS closer in the coming weeks.

JPM reported this morning and their net was down 10%, the stock is down slightly and golden boy Dimon warned that there will be tough sledding ahead. Rosetta Stone went public and was priced a bit higher than the original price talk, I'm hearing the White House ordered thousands of dvd's as the administration feels it is important to be apologists for our country's misdeeds in the actual language of the country. Can't wait for the lively banter between Pelosi and Achmadinijad in the months to come.

Good luck out there.

3 comments:

E said...

"Keep your friends close and your SRS closer in the coming weeks."

This has to be the funniest stock joke I've read all week, awesome.

Jonny said...

Tempted to throw the whole house and retirement in to SRS right now at these prices. It's insane. How does GGP file BK today and SRS dives... we are thru the looking glass. Thru the looking glass I tells ya'.

upsidetrader said...

jonny

its totally whacked dude

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.