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Just In Case You Are Still Trading Ambac...

Submitted by Tyler Durden on 04/13/2010 14:46 -0400

From JPMorgan:

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Tue, 04/13/2010 - 14:50 | 298602 Missing_Link

Oh, but I like Ambac! The little quacking duck is so cute.

Tue, 04/13/2010 - 15:12 | 298681 Mad Max

Yeah, when a talking duck starts selling muni bond insurance, you'll know that we're about 10 million bananas past republic status.

Might as well have a lizard peddling CDS on late night TV...

Tue, 04/13/2010 - 17:06 | 298896 whatsinaname

Ever check on how the percentage of American men in jail has climbed from 1% to 10% + between 1971 (Fed gets rid of gold standard and money supply accelerates) and 2009 ? Check these tragic graphs..

http://en.wikipedia.org/wiki/File:US_incarceration_timeline-clean.svg

http://en.wikipedia.org/wiki/File:Incarceration_rate_of_inmates_incarcerated_under_state_and_federal_jurisdiction_per_100,000_population_1925-2008.png

Tue, 04/13/2010 - 14:54 | 298613 E pluribus unum

So we should buy as much as we can possibly afford? This fucker is going to the moon baby!

Tue, 04/13/2010 - 14:57 | 298625 Eduardo

I am long with 30x leverage ambac but no worries I hedged it with my longs on AIG, GE and C. Diversification is all !

Tue, 04/13/2010 - 14:57 | 298626 fuggetaboutit

isnt this the ideal time to buy any stock? when a company is forced to disclose in its SEC docs that is fiscally insolvent, expectations cant get any lower right?

Tue, 04/13/2010 - 14:59 | 298640 Deep

hey fuggetaboutit, i have read your posts, very good

just wanna know your take on this market?

Tue, 04/13/2010 - 15:19 | 298697 fuggetaboutit

well appreciate that

my view for what little its worth is the market is once again in brain dead fashion forward extrapolating a series of totally unsustainable present conditions

we are right now at the nexus of every industry on earth lapping its easiest compare ever (easier than the Great Depression, figuratively given not a lot of companies around now vs then) and the peak stimuli spending globally washing through the system

if the market were in fact either forward looking or intelligent, it would comprehend that it will never, ever get better or easier than it is right now and multiples would be compressing like crazy across the board

instead, people in charge of annhilating your 401k are convincing themselves that maybe 2008 didnt really happen, maybe we got through it somehow - right as the compares get signficiantly more difficult, the stimulus impact peaks and heads lower, cost of money moves up, taxes move up, etc

so, we will do it the hard way, as usual

Tue, 04/13/2010 - 14:58 | 298631 carbonmutant

I knew I should have shorted that zombie this morning...

Tue, 04/13/2010 - 14:58 | 298632 Overpowered By Funk

Let's see, another worthless stock trading w/ massive volume in a market floating ever higher on lighter and lighter volume. I'm getting a mental image of the Hindenburg for some reason.

Tue, 04/13/2010 - 14:59 | 298641 HarryWanger

Sad thing is, they ARE the volume.

Tue, 04/13/2010 - 14:59 | 298634 williambanzai7

This is a buy in Shanghai circles.

Tue, 04/13/2010 - 14:59 | 298638 buzzsaw99

Obviously JPM has unloaded all their ABK stocks and bonds already.

Tue, 04/13/2010 - 15:05 | 298659 gosh

Hey 2 analysts said palm is worth $0 and look at it. new trend: Buy stocks analysts see as worthless, theyll go up 500% in a week

Tue, 04/13/2010 - 15:31 | 298725 Tripps

Palm is like dndn. they bash while they cover and go long

ABK really is worthless. please know the difference to when these moronic analysts are baiting you vs lying to you

Tue, 04/13/2010 - 15:07 | 298665 trav7777

how is this different from any of a zillion .com stocks in 1999?

Tue, 04/13/2010 - 15:41 | 298747 casino capitalism

The new world order. It used to be that bankrupt company stocks traded at zero (or maybe a few cents) since, according to the old laws of finance, equity got zeroed out first. Now, in the new era of bailouts, fraud and other financial hocus pocus, anything is possible. What an absolute joke of a financial system.

Tue, 04/13/2010 - 15:51 | 298770 bugs_

Classic pump and dump. Beware!

Tue, 04/13/2010 - 19:11 | 299061 SofaPapa

Actually, I would say this goes beyond the "classic". This one is so sociopathic it deserves its own category!

Tue, 04/13/2010 - 17:03 | 298892 poor fella

Time to put that HELOC to work!! I'm jumping in on this pullback with the other Cramericans! This is a gimme and the wife will be surprised when she finds out I paid off all our debt! 50k shares tomorrow at market baby! All you suckas gonna be sorry when I come back here with the 'told ya so'!! -- fools!

Wed, 04/14/2010 - 04:50 | 299580 mwmolloy

I am new here, its hard to tell, with the language barrier etc. but are you joking or are you serious?

best regards,

Just In Case You Are Still Trading Ambac...

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