March 16, 2007
Pre-Open Comments: Friday, March 16
I’m going to make a few pre-open comments this morning, just for fun. I’ll edit the same post over and over until the open then quit.
Lennar (LEN) is active or maybe my data is wrong, can’t tell.
Discredited Home Lenders (LEND) active again… NYSE Group (NYX) looking weak.
SPY and QQQQ weak. BOBJ gapping up. LEND is the #1 player… FMT and NFI also a little active.
Everyone has LEND front and center.
Fremont (FMT) and Novastar (NFI) must be on the list as well.
Yeah, that Lennar (LEN) data is screwy .. just sitting in the scanner like an apparition.
Open charts for LEND, NFI and FMT and line ‘em up, if you haven’t already.
Interestingly, LEND traded down to near $8 ($8.13 to be precise) after-hours yesterday… trading $12.25 now. ;-)
COGO?
Broad market still weak so these popping subprime things are in their own universe.
Doral (DRL) is under $2 if you’re looking for dollar store subprimes, already up like 40% though. ;-)
If this junk is lifting then solid citizen and 15 Ideas member Washington Mutual (WM) should also? And yes, I’m still accepting donations.
Zimmer (ZMH) ?
FMT and LEND “diverging” a tad here.
Sorry Jessica called with a “crisis” … must run out for about 20?
Back. (She’s OK.)
Yeah, when FMT was going ahead and LEND wasn’t, that was a time to dump FMT.
Broad market firming — pre-open swing lows a spot to watch anyway.
HEPH has been active for about the last half hour but I’ve been ignoring it (without reason).
LEND FMT NFI second burst of buying?
SYMC actively bought.
Be more meaningful if these ramblings were time-stamped, hrm.
Broad market moving higher, looks like that early action was a tad contrived.
OK, it’s 9:25 PM (China time), I’m gonna wrap up here. Have a good day, guys.
March 16th, 2007 at 8:34 pm
others to watch include HMB, IMH, AHM.
only problem for a counter trend trader is that most of them aren’t shortable (on reg SHO list). i was able to get some NEW, FMT and HMB previously, but most of the others couldn’t get a locate. a good chunk of my watch list coming into today was subprime and subprime related stocks.
glad you liked the talking straight one…
March 16th, 2007 at 9:02 pm
bob: Yeah, it was funny, and the ferment/foment confusion was classic.
March 17th, 2007 at 4:14 am
CM,
Thanks for posting the commentary. No trading for me today….I am a bit slow as I drank some fomented barley and hops last night.
March 17th, 2007 at 8:15 am
You daytrading again Chairman? Thought you left that for us suckers.
March 17th, 2007 at 11:50 am
chud: Nah, just keeping a lazy eye on things.
March 20th, 2007 at 8:07 pm
This could get addicting if you continued such an exercise on a daily basis.
Time stamps do help.
Use voice recognition software to save you from typing. (NUAN)
March 20th, 2007 at 9:08 pm
Todd: Yeah, I should but I’m lazy. And I like to type, plus I expect the voice recognition software isn’t up to snuff yet (could be wrong, know nothing about it).