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  #1    
Old 09-29-2008, 02:09 PM
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Arrow Well ... they voted it down ...
House defeats $700B financial industry bailout

House Rejects Bailout Package, 228-205; Stocks Plunge

Here's how they voted

Wow ... they actually listen to the people ... at least enough of them did ... totally surprised me ...
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Old 09-29-2008, 02:29 PM
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Yeah, I made a few bucks shorting stocks today, It was a scary ride though, at one point I was down a few hundred, but sold the short and bought back in for the late rally, sweet. Now's the time to make good gains if you know what to do, short some, buy some, play the trends.
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Old 09-29-2008, 02:31 PM
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Anyone else celebrating our small success? BAILOUT FAILS IN HOUSE.
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Old 09-29-2008, 02:38 PM
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Quote:
Originally Posted by medicineman View Post
Yeah, I made a few bucks shorting stocks today, It was a scary ride though, at one point I was down a few hundred, but sold the short and bought back in for the late rally, sweet. Now's the time to make good gains if you know what to do, short some, buy some, play the trends.
yea, and vegas is fun too, but i wouldn;t take my life savings there
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Old 09-29-2008, 04:05 PM
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Originally Posted by medicineman View Post
Yeah, I made a few bucks shorting stocks today, It was a scary ride though, at one point I was down a few hundred, but sold the short and bought back in for the late rally, sweet. Now's the time to make good gains if you know what to do, short some, buy some, play the trends.
I have no idea what this means ... I'm one of those people you hear about that has to live from paycheck to paycheck ... due to low paying wages ... and lack of good paying jobs in the area ... I have to fight to make ends meet ... I'm one of the unfortunates that has to work for money instead of money working for me ...
... but it was interesting that my rep voted no ... must have gotten a lot of calls to his office ... he usually votes for the corporations ... got to be feeling the heat ... Pelosi ... has shown us again she is nothing more than the treasonous bitch she truly is ... holding the vote open after the time limit ... wtf
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Old 09-29-2008, 04:26 PM
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Kind of ironic that the party who is all about deregulation, was stunned when their attempt for regulation was thwarted.
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Old 09-29-2008, 07:51 PM
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I have no idea what this means ... I'm one of those people you hear about that has to live from paycheck to paycheck ... due to low paying wages ... and lack of good paying jobs in the area ... I have to fight to make ends meet ... I'm one of the unfortunates that has to work for money instead of money working for me ...
This means that like you, when I was young I worked my ass off just to pay the bills, saved a little cash and in my senior years, have a little cash to play with. By a little, I mean a little, not a lot. Everytime you push that Buy/short button, you are gambling, but today it was a slam dunk. As soon as the bill was turned down, I pushed the short button on my selected stock, one that I've been watching that rides right along with the market in general, It dropped like a rock, I then cashed it out and bought it back in time to ride the recovery cycle, for a few hundred bucks. I'll be watching the market closely now to see what happens. I'll tell you this, pick a relative stock (One that rides along with the market) and when the bill comes in,. buy it and watch it soar. It's gambling, but if you're careful, you have the odds. This BTW is the first time I've played the market in months, too volatile and no direction. Like tomorrow, may be another good day for shorts, but I think the market has overcorrected so I'll just watch unless some new news comes out of DC. BTW, it's not for the faint of heart to sit and watch your money melt away, but the rush when it is growing is awesome. One could get hooked with a little success, I've lost over 35,000 in the markets so I'm super careful, I don't by any means claim to be an expert, today, fortunes were made in the short market, believe it. If I made a few hundred, you can bet a few people made a few million.
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Old 09-29-2008, 08:04 PM
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Good for you, Med. Capitalism works when the government gets out of the way. When was the ban lifted?

Quote:
NEW YORK/WASHINGTON (Reuters) - The world may be about to find out if short sellers really are the scoundrels they are accused of being for exacerbating the current financial crisis.

In the past few days, regulators in the United States, Britain, Canada and Germany have imposed unprecedented temporary bans on the short selling of financial shares as they seek to head off what is threatening to be the worst financial turmoil since the Great Depression.

They blamed short sellers for the rapid decline in major banks, such as Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz), last week. For financial markets already reeling from the collapse of Bear Stearns and Lehman Brothers, the declines triggered questions about whether more big banks would falter and worsen a credit markets freeze that threatens the broader economy.
Short sale bans seen as risky | Reuters
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Last edited by Johnnyorganic; 09-29-2008 at 08:10 PM..
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  #9    
Old 09-29-2008, 08:16 PM
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I made a few bucks shorting stocks today
so capitalism is okay if it's working for you?

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Capitalism works when the government gets out of the way.

now if the bastards would just leave the private sector to clean up its own mess, we might have a reasonable chance to escape with our shirts.
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Old 09-29-2008, 08:30 PM
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Capitalism is fine. It is the greed that comes with it that causes the problems.
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