Wall Street Manna

An irreverent look at Wall Street

Wednesday, June 24, 2009

MGM rallies

The catalyst? The removal of the "going concern" from the auditor.

This wasn't known by the marketplace?

It just means that the shorts have been getting busy again, with their algorithms, hitting stocks that have busted their secondary price. In MGM's case it was 7.

Erin Burnett on CNBC said this morning that high end bags now have a larger waiting list, and in the UK, you have had an uptick in price for the high end homes.

"Green shoots" in the high end?

And it looks like the shoots are getting shoved in some shorts!

Because shoots need fertilizer to grow!

3 Comments:

At June 24, 2009 at 2:33 PM , Anonymous Anonymous said...

"Investors should buy crude oil futures and sell natural gas contracts as the difference in price between them will probably increase in the next three months, said Goldman Sachs analysts said in a report."

http://www.bloomberg.com/apps/news?pid=20602099&sid=aXrhCRaYBXT8

Are you long Natural Gas on this news, using the do whatever the opposite of Goldman does strategy?

-Noah

 
At June 24, 2009 at 2:34 PM , Anonymous Anonymous said...

Or I should say "do whatever the opposite of Goldman says."

 
At June 24, 2009 at 2:57 PM , Blogger Palmoni said...

LOL!! says and does are different!!

I thought the hot weather would be bullish for NG!

http://www.bloomberg.com/apps/news?pid=20601072&sid=aRgi7bCh85ms

 

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