I wake up to find the SPUZ down the same couple bucks they were down last night - I had put out (sold) some nasdaq futures when they opened last night at 1616 - i left a bid in overnight and bought them back at 1610. This morning the journal is carrying a story about a company which Im involved in (MPG) - I own MPGpA shares, the journal is reporting that the company is about to "give back" seven of there properties that they are going to "imminently deafult on". Am I worried? Im always worried but one of the attractive parts of buying MPGpA was that first it wast trading at 5% of par when I bought it and second all of there properties are non recourse with no cross collaterolazation - so in effect they can drop the keys in the mailbox and walk away. We'll see how the market reacts to this news - this is not good news for reits in general but for this particular investment it might be pretty good.
When will the presistent buyers show up today? Premarket you have stuff like AIG, FNM,FRE trading much higher with huge volume - so people still wanna party. All that just ads fuel to my bearish fire.
Have a good day
JB
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