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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: KaiserSosze who wrote (1831)	3/27/2007 7:32:46 PM
From: RockyBalboa	Respond to of 6370

I was shorting Impac and indymac from some time ago after NEW started to cave in, but I didn't look too closely into Impac other than I saw larger participants selling off the impac preferred which is never a good sign. I shorted various stocks as a macro bet rather than one. Message 23314323 It might be interesting to look into Impacs reporting similar to NDE (or also CFC) NDEs own numbers: Message 23378453 What NDE doesn't say Message 23378468 CFC vs NDE Message 23379075

To: KaiserSosze who wrote (1831)	3/27/2007 7:49:13 PM
From: RockyBalboa	Respond to of 6370

It somehow, started here: Message 23083676 (just the very day before, BW announced he is buying puts. Something has been torn in the market these days.)

To: KaiserSosze who wrote (1831)	3/29/2007 6:18:31 PM
From: RockyBalboa	Respond to of 6370

Nice spin at Impac. Though, if one reads carefully, it is something which is mixed. Impac has now a loss making subsidiary and burns money at the REIT level. As earlier announced they cut the dividend from 0.25 to 0.10. One has to ask whether the chronic noncompliance with debt covenants will be cured (see 10k for 2006).