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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Jim McMannis who wrote (84802)8/12/2007 10:32:11 AM
From: ChanceIsRead Replies (3) of 306849
 
>>>It took you a few posts but I'm glad you got up to speed on the LEND situation. <G> <<<

Hey!!! I had a lot of stuff to do Friday PM, and I walked away from my trading sanctuary cursing and figuring that the LEND deal would go through - that the broad sector melt-down might be over. I am short a few Aug $10 calls and a boatload of Aug $12.50s. I was worried. I figured I would lose on the $10s but if lucky make it back on the $12.50s.

On the PBS "Nightly Business Report," Paul Kangas related the upside move in LEND with the regulatory merger approval. Obviously they taped at 4:10 w/o knowing of the counter news.

I have spent the freaking weekend worrying about LEND and how I would manage the situation.

Imagine my joy this AM when I saw the wonderful late Friday news.

Apologies to the board if this has already been discussed. I didn't see to much here - just assertions that LEND was history. It didn't make sense until I really started digging.

Now my concern is whether I should sell more Aug calls, and whether they should be $7.50 or $10s.

I don't think LEND will trade Monday morning. Maybe by noon. Maybe not all day. Another dead banker - what will the markets think?!?!?! LEND may even undo all the good efforts of the PPT.
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