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Death Watch Continues for GGP

By StockGumshoe ⋅ December 16, 2008
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Still no renegotiation of those mortgages — did anyone actually bet against GGP or other REITs? Most of them recovered quickly from that debacle at the close Friday, but many of the high-debt ones seem like they could easily double or go to zero on any given day.


The author will always disclose any direct long or short equity, debt or option position in any stocks written about as of the day of publication, and will not trade in any stocks mentioned for three days (72 hours) after publication. Full disclaimer is at the bottom of the page.

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    • Article published December 16, 2008 ⋅ Email This Article Email This Article ⋅ Print This Article Print This Article ⋅ Subscribe to Free Daily Update

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    1. Hi There,

      I write here for the first time.
      I read the Digest from S&A and figured it must be GGP by myself. Visited here to check and found your article the next day. Excited!

      I researched options and didn’t see a big gain on GGP’s, so I bet against MAC on Thursday. Friday early morning the news came on GGP, all REITs shot up like mad and closed my position immediately, still made some gain because of Thursday’s big decline. Hew…
      I should have switched hand and bought call on MAC, but I didn’t. Instead, I over trusted Porter’s judgment and played with Porter’s other comment about lined up bad earning report, betting against DIA. And I thought they will be only bad nes from FED.
      But, oh no who would have thought FED would be so bold on the last chance of showing their guts. Cutting more than expected. Welcome to the entrance of Japan’s path of forever declining market! I still think it was a bad news for market, but I am down on my put position on DIA….

      Market often seems to move like a headless snake.
      ____________

      I understand that Porter has to advertise PUT Strategy service witch has so little subscriber, but I would say the tone of voice he used was a bit misleading..
      And I was stupid to think that I could gain some big money on somebody else’s subscription…
      ____________

      I do like your site very much.
      All services in money chasing (stealing) industry should have watched by this kind of out of loop judging table.

      Keep up with your good work!!

      [Reply]

      StockGumshoe Reply:
      December 16th, 2008 at 11:04 pm

      Thanks, Shin. Yep, even when you’re really sure you’re right — and I’m sure Porter believes he is, and I don’t know that I disagree on the big picture — you can easily be very wrong in the short term, especially when the government is involved and the rules can change in an instant. Thanks for the comment!

      [Reply]

      Posted by Shin | December 16, 2008, 10:48 pm

    Post a comment

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