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Buy or Hold?

T

txrandom

Diamond Member
I bought Fannie Mae at $.33 and it's up to about $1.30 with after hours trading. I only bought 900 shares, but a $900 profit or about 300% profit is still nice for a college student like me. I'm going to lie, I got extremely lucky. Do you think I should wait around a few more days?

I think it's pretty unlikely that new information in the mortgage crisis will cause Fannie Mae to take any sudden downturns, but then again I'm a stock noob.
 
Originally posted by: txrandom
I bought Fannie Mae at $.33 and it's up to about $1.30 with after hours trading. I only bought 900 shares, but a $900 profit or about 300% profit is still nice for a college student like me. I'm going to lie, I got extremely lucky. Do you think I should wait around a few more days?

I think it's pretty unlikely that new information in the mortgage crisis will cause Fannie Mae to take any sudden downturns, but then again I'm a stock noob.
Click to expand...

Don't get greedy, sell. Enjoy the profit gained. The market is so volatile lately take what you can get then dump it.

At least that's the way I look at it.
 
Ask yourself, if you hadn't already bought the shares, would you buy it now at the $1.30 price point. If so, then you can hold. If you wouldn't buy now, then you should sell.
 
Originally posted by: mizzou
isn't there a penalty for short selling?
Click to expand...

There is no inherent penalty for short selling unless you don't follow the rules and do something illegal, like naked short selling.
 
Originally posted by: crazySOB297
Originally posted by: txrandom
I bought Fannie Mae at $.33 and it's up to about $1.30 with after hours trading. I only bought 900 shares, but a $900 profit or about 300% profit is still nice for a college student like me. I'm going to lie, I got extremely lucky. Do you think I should wait around a few more days?

I think it's pretty unlikely that new information in the mortgage crisis will cause Fannie Mae to take any sudden downturns, but then again I'm a stock noob.
Click to expand...

Don't get greedy, sell. Enjoy the profit gained. The market is so volatile lately take what you can get then dump it.

At least that's the way I look at it.
Click to expand...
Exactly, greed kills.

Walk a way with the profit now, and let the net poor sap take the gamble.

 
other alternative is to sell off only enough to cover your initial investment.

I always kick myself for selling apple too fast. Bought 100 shares at $70. Shot up to $78 the same day and sold out. couple weeks later 2-1 split. then it shot up to $180 over the next year or so. I left about $20k-$30k profit out there. But I always say 'at least I made $800'
 
OP: Sell enough to cover your original purchase. Let the rest ride. I was in FRE when it was sub dollar, rode it up to 2.95. It got back down to about .65 and I'm back in it now, it's around 1.30. I've been trying to figure out a price target. Personally I think I'm holding a majority of my position until it hits 5 or 7.
 
I sold it at 1.07. A few hours later it was down in the .80s. I got lucky again! $700 in profit is good enough for me.
 
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