brvheart 1,752 Posted October 11, 2008 Share Posted October 11, 2008 We probably haven't seen the total bottom, I wouldn't be surprised if we see as low as 7,500. I would however be really surprised if we see 6,xxx. My silver has taken a BEATING! I actually can't believe it went below $10... I was shocked. Thankfully, it will rebound and I didn't have any purchased on margin like a friend of mine that had a 200k margin call on his silver stock yesterday. Ouch!I, for one, am find money from everywhere I can to buy lots of stock next week. These are the times when some idiot like Mark Cuban can become a billionaire. Link to post Share on other sites
grocery_mony 8 Posted October 12, 2008 Share Posted October 12, 2008 My god. I was In Vegas the whole week but everytime I walked by a TV this scary shit was happening. I am not even gonna look at my mutual funds that were Down 15% in a month BEFORE this week.Glad I sold my house when I did. Gonna wait till it looks like a bottom has hit than go high yield hunting. Link to post Share on other sites
brvheart 1,752 Posted October 12, 2008 Share Posted October 12, 2008 My god. I was In Vegas the whole week but everytime I walked by a TV this scary shit was happening. I am not even gonna look at my mutual funds that were Down 15% in a month BEFORE this week.Glad I sold my house when I did. Gonna wait till it looks like a bottom has hit than go high yield hunting. Very soon will be a heavy buy time. BUY BUY BUY! Link to post Share on other sites
nutzbuster 7 Posted October 12, 2008 Share Posted October 12, 2008 I was eating pizza Friday at lunch.I couldn't swallow...my nuts were in my throat.Seriously, I actually panicked Friday, but was nowhere near a computer, so nothing stupid happened. Wanted to buy more BAC and GE, but the market was already closed when I got back.Muther Fuker.....this is so scary.They need to close the markets for a week and chill out.:takes another sip of McEwans face: Link to post Share on other sites
brvheart 1,752 Posted October 13, 2008 Share Posted October 13, 2008 I was eating pizza Friday at lunch.I couldn't swallow...my nuts were in my throat.Seriously, I actually panicked Friday, but was nowhere near a computer, so nothing stupid happened. Wanted to buy more BAC MER and GE, but the market was already closed when I got back.Muther Fuker.....this is so scary.They need to close the markets for a week and chill out.:takes another sip of McEwans face:Once the merger goes through BAC is going to convert all of your MER shares to BAC at a rate of 1 : 0.86. Look at the prices right now and you will see how good of a deal that is. The only risk is if the merger doesn't happen. But if you look into it you will see that MER is raising billions in cash to make sure it will, and BAC has a ton of cash.ARTICLE ITHE MERGER 1.1 The Merger. (a) Subject to the terms and conditions of this Agreement, in accordance with the Delaware General Corporation Law (the “DGCL”), at the Effective Time, Merger Sub shall merge with and into Company. Company shall be the Surviving Company in the Merger and shall continue its existence as a corporation under the laws of the State of Delaware. As of the Effective Time, the separate corporate existence of Merger Sub shall cease. (B Parent may at any time change the method of effecting the combination (including by providing for the merger of Company and a wholly-owned subsidiary of Parent other than Merger Sub) if and to the extent requested by Parent; provided, however, that no such change shall (i) alter or change the amount or kind of the Merger Consideration provided for in this Agreement, (ii) adversely affect the Tax treatment of Company’s stockholders as a result of receiving the Merger Consideration or the Tax treatment of either party pursuant to this Agreement or (iii) impede or delay consummation of the transactions contemplated by this Agreement. 1.2 Effective Time. The Merger shall become effective as set forth in the certificate of merger (the “Certificate of Merger”) that shall be filed with the Secretary of State of the State of Delaware on the Closing Date. The term “Effective Time” shall be the date and time when the Merger becomes effective as set forth in the Certificate of Merger. 1.3 Effects of the Merger. At and after the Effective Time, the Merger shall have the effects set forth in the DGCL. 1.4 Conversion of Stock. At the Effective Time, by virtue of the Merger and without any action on the part of Parent, Merger Sub, Company or the holder of any of the following securities: (a) Each share of common stock, par value $1.00 per share, of Merger Sub issued and outstanding immediately prior to the Effective Time shall be converted into and become one validly issued, fully paid and nonassessable share of common stock, par value $1.33 1/3 per share, of the Surviving Company. From and after the Effective Time, all certificates representing the common stock of Merger Sub shall be deemed for all purposes to represent the number of shares of common stock of the Surviving Company into which they were converted in accordance with the immediately preceding sentence. (B All shares of common stock, par value $1.33 1/3 per share, of Company issued and outstanding immediately prior to the Effective Time (the “Company Common Stock”) that are owned by Company or Parent (other than shares of Company Common Stock held in trust accounts, managed accounts, mutual funds and the like, or otherwise held in a fiduciary or agency capacity, that are beneficially owned by third parties (any such shares, “Trust Account Common Shares”) and other than shares of Company Common Stock held, directly or indirectly, by Company or Parent in respect of a debt previously contracted (any such shares, “DPC Common Shares”)) shall be cancelled and shall cease to exist and no stock of Parent or other consideration shall be delivered in exchange therefor. All shares of Company Common Stock held by any wholly-owned subsidiary of Company or Parent shall be converted into such number of shares of stock of the Surviving Company such that each such subsidiary owns the same percentage of the outstanding common stock of the Surviving Company immediately following the Effective Time as such subsidiary owned in Company immediately prior to the Effective Time. © Subject to Section 1.4(f), each share of Company Common Stock, except for shares of Company Common Stock owned by Company or Parent (other than Trust Account Common Shares and DPC Common Shares), shall be converted, in accordance with the procedures set forth in Article II, into the right to receive 0.8595 (the “Exchange Ratio”) of a share of common stock, par value $0.01 per share, of Parent (“Parent Common Stock”) (the “Merger Consideration”). (d) All of the shares of Company Common Stock converted into the right to receive the Merger Consideration pursuant to this Article I shall no longer be outstanding and shall automatically be cancelled and shall cease to exist as of the Effective Time, and each certificate previously representing any such shares of Company Common Stock (each, a “Certificate”) shall thereafter represent only the right to receive the Merger Consideration and/or cash in lieu of fractional shares into which the shares of Company Common Stock represented by such Certificate have been converted pursuant to this Section 1.4 and Section 2.3(f), as well as any dividends to which holders of Company Common Stock become entitled in accordance with Section 2.3©. (e) (i) Each share of the Specified Series (as hereinafter defined) of Company Preferred Stock outstanding immediately prior to the Effective Time shall automatically be converted into a share of preferred stock of Parent having rights, privileges, powers and preferences substantially identical to those of the relevant Specified Series. (ii) Each share of the Convertible Series (as hereinafter defined) of Company Preferred Stock outstanding immediately prior to the Effective Time shall remain issued and outstanding and shall have the rights, privileges, powers and preferences as set forth in the Surviving Company’s certificate of incorporation, as amended as provided in Section 1.6. (f) If, between the date of this Agreement and the Effective Time, the outstanding shares of Parent Common Stock shall have been increased, decreased, changed into or exchanged for a different number or kind of shares or securities as a result of a reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split, or other similar change in capitalization, an appropriate and proportionate adjustment shall be made to the Merger Consideration. 1.5 Stock Options and Other Stock-Based Awards; ESPP. (a) As of the Effective Time, by virtue of the Merger and without any action on the part of the holders thereof, each option to purchase shares of Company Common Stock granted under the Long-Term Incentive Compensation Plan for Managers and Producers, as amended through October 22, 2007, the Long-Term Incentive Compensation Plan, as amended through October 22, 2007, the Employee Stock Compensation Plan, as amended through October 22, 2007, the Equity Capital Accumulation Plan, the Deferred Restricted Unit Plan for Executive Officers, the First Republic Employee Stock Option Plan, as amended and restated, the First Republic 1998 Stock Option Plan, as amended and restated, and the Deferred Stock Unit Plan for Non-Employee Directors (collectively, the “Company Stock Plans”) that is outstanding immediately prior to the Effective Time (collectively, the “Company Options”) shall be converted into an option (an “Adjusted Option”) to purchase, the number of whole shares of Parent Common Stock that is equal to the number of shares of Company Common Stock subject to such Company Option immediately prior to the Effective Time multiplied by the Exchange Ratio (rounded down to the nearest whole share), at an exercise price per share of Parent Common Stock (rounded up to the nearest whole penny) equal to the exercise price for each such share of Company Common Stock subject to such Company Option immediately prior to the Effective Time divided by the Exchange Ratio, andhttp://www.sec.gov/Archives/edgar/data/651...71399exv2w1.htmBUY MER! 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mtdesmoines 3 Posted October 13, 2008 Share Posted October 13, 2008 One of the many reasons I dislike McCain.But he scares me less than the other less experienced dude.This THE PAST 20 YEARS OF electionS HAVE sucksED.FYPI was eating pizza Friday at lunch.I couldn't swallow...my nuts were in my throat.Seriously, I actually panicked Friday, but was nowhere near a computer, so nothing stupid happened. Wanted to buy more BAC and GE, but the market was already closed when I got back.Muther Fuker.....this is so scary.They need to close the markets for a week and chill out.:takes another sip of McEwans face:Dude, really. Chill out. It's only money. And, really, it's not money unless you convert the stock to money (ie: sell it). This is neither a groundbreaking market condition, nor is it permanent. Nor are you worse off than you were when compared to your peers than yesterday. And if you just sit tight, you'll be the one who benefits most from a market recovery.Your sister in law is right. Link to post Share on other sites
dms26 3 Posted October 13, 2008 Share Posted October 13, 2008 lolstocks Link to post Share on other sites
El Guapo 8 Posted October 13, 2008 Share Posted October 13, 2008 Interesting day Link to post Share on other sites
Yoda 1 Posted October 13, 2008 Share Posted October 13, 2008 holllllllllllllllllllllllllllllllllllllld! I'm scared of tomorrow already Link to post Share on other sites
brvheart 1,752 Posted October 13, 2008 Share Posted October 13, 2008 holllllllllllllllllllllllllllllllllllllld! I'm scared of tomorrow alreadyI think it might actually be ok tomorrow. Maybe just a modest gain. +190 is my guess, but it could be more. Link to post Share on other sites
Yoda 1 Posted October 13, 2008 Share Posted October 13, 2008 I think it might actually be ok tomorrow. Maybe just a modest gain. +190 is my guess, but it could be more.I got pretty heavily long by the end of last week and I decided not to exit anything today...I wouldn't mind a little more rip roaring at the open cause THEN i'd lighten up some. But if we trail off again and go lower i'll probably sit on my hands and just watch things play out for now. Until it starts getting ugly again that is. Link to post Share on other sites
nutzbuster 7 Posted October 13, 2008 Share Posted October 13, 2008 I was eating pizza Friday at lunch.I couldn't swallow...my nuts were in my throat.Seriously, I actually panicked Friday, but was nowhere near a computer, so nothing stupid happened. Wanted to buy more BAC and GE, but the market was already closed when I got back. Muther Fuker.....this is so scary.They need to close the markets for a week and chill out.:takes another sip of McEwans face:Goddammitt!!!Meetings all day today, and too slow on the draw Friday.Sigh. I had a feeling today was gonna be bannanas. GE is still a buy here imo.Oh well...at least some losses got made up. Link to post Share on other sites
grocery_mony 8 Posted October 13, 2008 Share Posted October 13, 2008 Nice day. Wouldnt be suprised to see it drop off a few hundred tommorow and so on for the next few months but with an overall upward trend back to 10k by the end of the year. It will be more volatile than PLO imo. Link to post Share on other sites
El Guapo 8 Posted October 14, 2008 Share Posted October 14, 2008 Well if its a sign for tomorrow the Asian markets are going nuts again today. Japans market is up almost 14%. Link to post Share on other sites
grocery_mony 8 Posted October 14, 2008 Share Posted October 14, 2008 Well if its a sign for tomorrow the Asian markets are going nuts again today. Japans market is up almost 14%.It was closed on Monday so it is just reacting to yesterday. Link to post Share on other sites
El Guapo 8 Posted October 14, 2008 Share Posted October 14, 2008 It was closed on Monday so it is just reacting to yesterday.Yes, but the China markets were not and they are up 4.5 and 6.5% respectively. Link to post Share on other sites
Yoda 1 Posted October 14, 2008 Share Posted October 14, 2008 Yes, but the China markets were not and they are up 4.5 and 6.5% respectively.China closed dddddown. Link to post Share on other sites
WrongWay 0 Posted October 14, 2008 Share Posted October 14, 2008 So, is this the bailout that gets consumers a 30% wage increase they need to maintain their standard of living without taking on even more debt? Is this the bailout that gets everyone the 100% wage increase we need for house prices to return to peak level of 2 years ago?Or, is this the bailout that allows consumers and businesses to continue spending 110% of their income, forever.I watched Bush, Paulson, Bernanke and Bair all do their horse and pony shows, and they all said they are attacking the root of the problem. Oh really??? Seems to me like all they are doing is trying to return to a slow motion crash we've been having for the last 2 years instead of the train wreck we've been having for the last 2 months.I see NO efforts to attack the root of the problem at all.... They are just back to rearranging deck chairs on the Titanic.Seems I picked a bad 5 days to head to Disneyland. Sure, Disneyland puts on a heck of a fireworks show, but nothing compared to what was happening in the real world while I was gone. Link to post Share on other sites
WrongWay 0 Posted October 14, 2008 Share Posted October 14, 2008 Oh... and how do I get on that list of "people that know about governement bailouts 2 hours before the market closes on the day before the announcement". Those people make a killing while everyone else just gets killed. Link to post Share on other sites
Sal Paradise 57 Posted October 14, 2008 Share Posted October 14, 2008 Oh... and how do I get on that list of "people that know about governement bailouts 2 hours before the market closes on the day before the announcement". Those people make a killing while everyone else just gets killed.be nicer to balloon guy. Link to post Share on other sites
brvheart 1,752 Posted October 14, 2008 Share Posted October 14, 2008 BAC and MER made impressive gains today. Link to post Share on other sites
WrongWay 0 Posted October 14, 2008 Share Posted October 14, 2008 BAC and MER made impressive gains today.Yes... The $833 for every man, woman and child in the country have made banks whole again... I mean, will allow them to hide their losses for another few months.Too bad it won't make them start making loans that can't be paid back....And, now, $450 billion left won't be NEARLY enough to save the insurance companies, pension plans, bond funds, and equity funds that are sitting on trillion in bad debt.Oh well... when 3 months have past and the world is about the end again, I'm sure we can just print another $700 billion out of thin air.No worries. Link to post Share on other sites
Yoda 1 Posted October 15, 2008 Share Posted October 15, 2008 I just have to brag post; I bitch slapped the market today, it was a truly glorious thing. I entered the morning 100% long, as mentioned in an earlier post. On the other end of the peak, still about 2/3 of the morning gains in tact, I dumped over 30% of my portfolio for profit taking. I proceeded to throw on about 30% short shortly after that as the market deteriorated a bit more. I chose JEC (Jacobs Engineering) and SKF (Financial Ultrashort). Market dive bombed finally in the afternoon. Covered SKF pretty damn near the bottom - market proceeded to rally letting my remaining longs fly. I am holding short JEC as a small hedge, the infrastructure people just aren't going to perform well for a while and I didn't want to get charged with 2 round trips. JEC, PCP, CMI...these are stocks I loved not too long ago, and now they are unfortunately the stocks I have been shorting on rips. I will continue to look for those trades.I'm also considering going back to Mosaic - I mean holy crap, it's got a PE just under 6, and a forward PE of just under 3! It's already cheap and it's trading at less than half it's projected growth rate....sick.Tomorrow is another day - I have no idea what morning will bring. But I reacted perfectly today. I could use more days like that! Link to post Share on other sites
brvheart 1,752 Posted October 15, 2008 Share Posted October 15, 2008 Yes... The $833 for every man, woman and child in the country have made banks whole again... I mean, will allow them to hide their losses for another few months.Too bad it won't make them start making loans that can't be paid back....And, now, $450 billion left won't be NEARLY enough to save the insurance companies, pension plans, bond funds, and equity funds that are sitting on trillion in bad debt.Oh well... when 3 months have past and the world is about the end again, I'm sure we can just print another $700 billion out of thin air.No worries.I will bet you on this. The bet needs to be 5 years, but that shouldn't matter to you, since BAC will be bankrupt by that time.$500 sound ok to you? Link to post Share on other sites
Yoda 1 Posted October 15, 2008 Share Posted October 15, 2008 I will bet you on this. The bet needs to be 5 years, but that shouldn't matter to you, since BAC will be bankrupt by that time.$500 sound ok to you?Bet on what exactly? That Bank of America will still exist? Link to post Share on other sites
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