Monday, October 6, 2008

DID FULD TELL THE TRUTH?


If you watched Fuld's testimony before congress just a few minutes ago, I would like your opinion! Take the poll on the left!

Important Documents on Today's Hearing:

Chairman Waxman's Opening Statement (PDF)
Oral Testimony of Luigi Zingales (PDF)
Written Testimony of Luigi Zingales (PDF)
Testimony of Robert Wescott (PDF)
Testimony of Nell Minow (PDF)
Testimony of Gregory Smith
(PDF)
Testimony of Peter Wallison(PDF)
Testimony of Richard (Dick) Fuld (PDF)
Internal LEH Presentation (PDF)
LEH E-mail Regarding Suspending Executive Compensation (PDF)
LEH E-mail Regarding Punishing Short Seller (PDF)
Materials for LEH Compensation Meeting (PDF)
E-mail from Dick Fuld Regarding Meeting with Treasury (PDF)
LEH E-mail Regarding Calls with Regulators (PDF)
LEH Email Regarding Lack of Accountability (PDF)
LEH Presentation (PDF)


Don't forget to try out the Free Trend Analysis. It's FREE, so give it a shot!

10 comments:

Anonymous said...

HEY John-

I bought FSLR today 30min before close! up 10 point from where i bought. Renewable energy bill passes and granted $17billion tax credit where solar benefit the most. FSLR close well off the lows today. Any chance the stock hit bottom with todays action where the stock close well off the lows!

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John C. Lee said...

I was 100% long at the first higher low. I am holding all positions overnight.

yes, today was the capitulation day I was looking for.

Larry Arndt said...

dude i love your blog... i'll be reading it everyday during the lunchtime slowdown and after the close... you rock!!!

here is my impression of fuld..... "hey come-on guys... where is my bailout"

Anonymous said...

Hi sir, Bank of America earnings terrible = reflect on market direction tomorrow, looking at skf your thoughts ? thank you

John C. Lee said...

i thought he was going to breakdown and cry at one point. That one little segment in time where he got real with everyone.

John C. Lee said...

I think we might get a very slight gap down, but also believe the market will be heading higher, minus BAC. I do have vested interest as I am 100% long for the next 1-2 days.

Anonymous said...

Thinking about SHORTING bank of America right at the open what do you think JOHN?

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John C. Lee said...

hmmm...I generally do not recommend that kind of action. The first 30 mins of the day are the most erratic and violent. The only time I put in orders at the open is if I'm covering into weakness or selling into strength.

If you are thinking about doing that, do it in small lots -- don't put your entire order in all at once. This will test the waters, 1) if you're wrong, you lost little, 2) if you're right, you can always add on more.

Again, analyze the risks, for example, we could get a major intra-day rally in the morning, or BAC will gap down 10% and attempt to fill the gap at the open. The first 15-20 mins will determine that.

John C. Lee said...

wait a sec, how are you going to short BAC?

Anonymous said...

lol i forgot the ban was extended! oops!but thanks!


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