Thank you Homer for taking the time to write this. You are a bit under my very conservative estimate. But not too far off longer term. I will copy and paste this post to the other thread for all investors to see. If you dont mind?
Get ready folks...
Fast Money is reporting a possible move upcoming that will suspend Mark to Market temporarily. If that happens, tack on another 1500pts to the Dow...
Personally, I have no clue why we didn't do this sooner. I think it's just taken this long for them to realize it's the ONLY bullet that will take pressure of this capital requirement issue, which is just clogging up everything. It's either that or let everything else come down farther to adjust to real-time values. How stupid would that be since those values will then be going back up. Why should we have to bear further pain when it's unnecessary and an ephemeral state of being anyway. Then housing bottoms and when mark to market is put back in 2010, capital requirements are more in line with less pain. What else can stop the shorts?? A: nothing.
Holy crap that is the best news I have heard in a long time. I also agree the Bank bailout would not have been so big if they would have just done this along with a few other things in the first place. This would do more to free up the credit freeze then the bail out did.
The only thing is I heard that before, I just hope it happens this time around.
Relmor...
All respect to Homer, but these numbers are not the gospel. Further, I'm not so sure about a strategy of reversing to $3.50, hoping it will reach $5. I would envision a higher ratio than 1:25. But spread the word if you want to..still many variables going on (hedges, et al). I for one, will not be relying on nominal fundmentals with this stock. I can't remember a time when they have much applied in this SP. MHO...and again, no offense.
888's...
Have you seen cos1000 lately?? He's MIA...
Brandon Matthews reporting for my beating!
No I know that. I just wanted everyones opinion that knows more than me heard. He knows more than I do, so I value the input. As do you , cos1000, and John. Im not saying my market cap opinion is worthless, its just not worth "more than his". But I agree, my views on the R/S I will get into later. Really dont want to jump right to that issue. Going to let this all sink in first, and enjoy my weekend. I feel .70 cents is not an issue if MM's allow true value, but they wont get it there "overnight" either.