Cramer: "Bad Companies Are Enjoying a Virtuous Circle&q
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Depende de como for a falência e das leis do país em questão, mas na maioria das vezes conseguirá fechar a posição praticamente a zero. Porque um accionista de uma empresa que decretou falência ficará contente em a vender a qualquer preço acima de zero...
Um abraço,
Ulisses
Um abraço,
Ulisses
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Cramer: "Bad Companies Are Enjoying a Virtuous Circle&q
"Bad Companies Are Enjoying a Virtuous Circle"
By Jim Cramer
RealMoney.com Columnist
2/27/2008 12:39 PM EST
"Tech squeeze. Fannie (FNM - commentary - Cramer's Take - Rating) Freddie (FRE - commentary - Cramer's Take - Rating) squeeze. That's all anything seems to be about. The analysts all went negative on the Fannie and Freddie, so when the big losses came out, the bulls were ready to pull the trigger; as I mentioned yesterday, the bears have no tolerance for pain, so they just cover.
This is another day where the markups can continue and you see them at work. I see the markups in tech, where the Goldman (GS - commentary - Cramer's Take - Rating) conference is putting a short-term bottom on stocks and because I think the stocks aren't really anywhere bad or good. In other words, if you are short tech, you may not have a case other than seasonality, and that will kick in after the markups.
Speaking of the difficulty with staying short, you have to recognize that the major change in this market vs. a lot of other recession-story markets is that no one ever seems to go bankrupt. MBIA (MBI - commentary - Cramer's Take - Rating) and Ambac (ABK - commentary - Cramer's Take - Rating) are now out of the woods; they should have gone bankrupt if the agencies had been doing their jobs. The money keeps coming into the homebuilders that should have gone bankrupt -- check into the money Standard Pacific (SPF - commentary - Cramer's Take - Rating) is raising. And then look at a Charter which is STILL solvent, somehow, after those losses.
These situations are playing havoc with the bears, who haven't had a "we don't need to cover" stock since American Home Mortgage.
The rally in retail is also typical. There are so many tortured retailers out there, but their balance sheets are just good enough to give you some sense that things can't go to zero.
When stuff can't go to zero, the bulls get heartened and make a stand, which then causes short-covering, which then gives the companies a chance to raise more capital. Virtuous circle for the worst companies.
Random musings: URS (URS - commentary - Cramer's Take - Rating) is domestic and Foster Wheeler (FWLT - commentary - Cramer's Take - Rating) is foreign, but no one cares right now. ... Does anyone know why NYSE Euronext (NYX - commentary - Cramer's Take - Rating) simply can never act well? I am at wits' end. ... How about the action in Inverness (IMA - commentary - Cramer's Take - Rating). If they canceled the deal they just made, they could put on 15 points and they don't care. Who does things like this to their shareholders?
At the time of publication, Cramer was long Inverness, Foster Wheeler, NYSE Euronext and Goldman Sachs. "
(in www.realmoney.com)
By Jim Cramer
RealMoney.com Columnist
2/27/2008 12:39 PM EST
"Tech squeeze. Fannie (FNM - commentary - Cramer's Take - Rating) Freddie (FRE - commentary - Cramer's Take - Rating) squeeze. That's all anything seems to be about. The analysts all went negative on the Fannie and Freddie, so when the big losses came out, the bulls were ready to pull the trigger; as I mentioned yesterday, the bears have no tolerance for pain, so they just cover.
This is another day where the markups can continue and you see them at work. I see the markups in tech, where the Goldman (GS - commentary - Cramer's Take - Rating) conference is putting a short-term bottom on stocks and because I think the stocks aren't really anywhere bad or good. In other words, if you are short tech, you may not have a case other than seasonality, and that will kick in after the markups.
Speaking of the difficulty with staying short, you have to recognize that the major change in this market vs. a lot of other recession-story markets is that no one ever seems to go bankrupt. MBIA (MBI - commentary - Cramer's Take - Rating) and Ambac (ABK - commentary - Cramer's Take - Rating) are now out of the woods; they should have gone bankrupt if the agencies had been doing their jobs. The money keeps coming into the homebuilders that should have gone bankrupt -- check into the money Standard Pacific (SPF - commentary - Cramer's Take - Rating) is raising. And then look at a Charter which is STILL solvent, somehow, after those losses.
These situations are playing havoc with the bears, who haven't had a "we don't need to cover" stock since American Home Mortgage.
The rally in retail is also typical. There are so many tortured retailers out there, but their balance sheets are just good enough to give you some sense that things can't go to zero.
When stuff can't go to zero, the bulls get heartened and make a stand, which then causes short-covering, which then gives the companies a chance to raise more capital. Virtuous circle for the worst companies.
Random musings: URS (URS - commentary - Cramer's Take - Rating) is domestic and Foster Wheeler (FWLT - commentary - Cramer's Take - Rating) is foreign, but no one cares right now. ... Does anyone know why NYSE Euronext (NYX - commentary - Cramer's Take - Rating) simply can never act well? I am at wits' end. ... How about the action in Inverness (IMA - commentary - Cramer's Take - Rating). If they canceled the deal they just made, they could put on 15 points and they don't care. Who does things like this to their shareholders?
At the time of publication, Cramer was long Inverness, Foster Wheeler, NYSE Euronext and Goldman Sachs. "
(in www.realmoney.com)
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