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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Paul Kern who wrote (92495)	3/19/2008 6:55:59 PM
From: lifeisgood	Read Replies (1) \| Respond to of 110194

If my memory serves me correctly, there won't be shares available to borrow for 30 days unless you are friends with a brokerage in Canada where you can short naked. Also, if you are a US broker, you can short naked. If you are a J6P, you can only go long for now. best... LIG

To: Paul Kern who wrote (92495)	3/19/2008 7:26:34 PM
From: Keith Feral	Respond to of 110194

No, all the banks sold about 1/3 of their shares at the IPO price today. The profits will be recorded in the first quarter. NCC had a few headlines about their $450 million profit they will book for the first quarter. JPM had a $1.2 billion realized profit from their sale today. That means JPM had an unrealized gain of $2.4 billion on the unsold part of their position. With the 30% gain from the IPO price, JPM would have over a $3.2 billion unrealized gain. If there were any justice in the universe, the banks would all have to realize the full realized and unrealized gains from the IPO to offset all their first quarter mortgage writedowns. That would essentially offset all of the q1 losses.