Howdy Mark,
Considering the stock market is a legal form of gambling, I wonder why these
regs don't apply to the market... unless.. well.. err.. the SEC was set up
for that purpose and the "goombahs" lost control of Wall Street? Seeems
while the public was content to pull the lever on the "slots" provided by
Merrill Lynch, sum'buddy was performing the greatest bank robbery in the
history of the world. Meaanwhile, considering the reality that a sucker
should never be given an even break, UP jumped the Dow above 9000 just in
time for BO to land in DC. Forget the "fundamentals" of investing, the
market is going up up up and there's no stopping it now, place your bets.
For the more enlightened gamblers with "Jones" skills, a very close look at
Stillwater Mining ( SWC) should give one pause as an example of how to play
poker with a pinocle deck while performing wonders with numbers while eating
cucumbers. Stillwater borrowed 150 mil, they caved into the US Steelworkers
Union and agreed to keep the second mine open. They are quickly exhausting
their cash and the fundamentals are zilch, The Russians control the board
and the market is fading... and the analysists downgraded SWC to negative,,,
BUT .. the stock jumped from 1.60 to above 5.00
If the really smart of the world can do it with a tiny obscure stock like
SWC, consider what they can do with a portfolio holding GMAC and Citi-Bank.
The Dime Box Retired cardsharps, montebanks, and stage coach robbers union
are very disturbed at someone stealing their ill-gotten gains.
Richard
Mark wrote,
Straight from the horses mouth...
http://gaming.nv.gov/about_regulation.htm
