Wednesday, April 7, 2010

Greenspan to testify

Alan "Atlas Shrugged" Greenspan is set to testify in front of Congress, on the causes of the financial crisis.

And the maestro will tell the Congressmen and anyone else listening, that no-one could foresee the popping of the housing bubble.

For Alan"take a teaser rate on your mortgage" Greenspan to defend that position is just stupid and idiotic.

But he was the high priest of the Federal Reserve's Temple so the plebeians must bid him obeisance!

Now if only this guy could be seen walking behind Greenspan's desk.


Anonymous said...

Looks like there's a hit job on HUSA.

I think someone was caught short lol!

Anonymous said...

any opinion on GOld?

Palmoni said...

Yeh but the stock is extended on the charts, and there won't be any "real" news until May, so if you're up 400% and you're playing with house money, you take some off when a story like that hits.

whydibuy said...

Its a stock promotion, just like I thought.

HUSA is run by a couple guys with shady pasts who earn their money with stock pumps, not oil production.

Anonymous said...

wow...Palmoni...did you get out of HUSA? is it really a scam?

Anonymous said...

why the free fall in the last hr of market ?

Palmoni said...

Most stocks are "promotions." The story out today, has been known for a long time--its just that some shorts have been trapped in this name, and they became a bit more vocal.

But heck, the stock had a great move. If you can't make money on a stock when its moves from 4 to 20, you can't make money anywhere!

Resource plays always seem promotional, until the resource proves out. That being said, I'm short IOC, via options today. That name cracked last week under 60, and that "promotion" is being pimped by Morgan Stanley. If MS didn't pimp that name, maybe it would be called something less than a promotion. What word did you use? Scam?

But I have no way to verify if IOC is a scam or a promotion or a viable asset play. What does a giant gas flare mean?

It's easy to throw words around like promotion and scam but that doesn't negate the resources in the ground. Do they or do they not have oil? Some say they do, some say they don't. Those who say they don't have a vested interest in the stock going down, those that do, have an interest in it going up.

For the most part, I always say stocks are "touts" the difference is, that when the big boys do it, they just dress it up a bit better-

Smaller stocks are always declared scams by the shorts. Whatever. They got their butts whipped in NFLX which was supposedly a scam, in AMZN, which supposedly was way overpriced etc. Now they are real companies?

As far as HUSA? I think they have something, but I think the stock had just run too fast, and they're hitting it today on the story.

In other words, I'd rather bet against IOC and the MS pimper, then bet against HUSA

Anonymous said...

never doubted you when you say tout...just curious on your thoughts with today's move. thanks for your insight

Palmoni said...

I have to catch a flight but briefly HUSA addressed allegations in PR at 4:18 today

secondly seeking alpha story has facts wrong

stock traded up .75 on news in AH

take care