it's like a call option with no expiration! lol jan 2010 2.50 calls are selling for 0.35. Might as well go long on the stock.
I had a great AUgust but have had a putrid putrid putrid September. I think I picked the worst hurricane stock in history among others
ponyo
Lifer
- Feb 14, 2002
- 19,688
- 2,811
- 126
Dismiss today's action as Turnaround Tuesday movement or is it something far worse? Am I the only one disturbed by the indexes wild daily swings for the past month? Yet the VIX is still in the 20s? I see some values out there in stocks like Ciena and Posco but who wants to step in front of hedge fund blowup unwinds?
Still sitting on hand with cash. Kraft increased their dividend. Lower commodities input cost, higher margin thesis is looking good for boring food processors like Kraft.
Same can't be said for Wells Fargo who raised their dividend basically as a smoke screen to make people think they're doing well back in late July. Yet late last week, Wells Fargo raised $2 billion paying 9.95%. There's no way they can make money by borrowing it at 10% unless they leverage big time which means huge risk. They raised the dividend payout yet borrowed money at 10%? Why didn't they just cut their dividend? Tricks should be punished.
Still sitting on hand with cash. Kraft increased their dividend. Lower commodities input cost, higher margin thesis is looking good for boring food processors like Kraft.
Same can't be said for Wells Fargo who raised their dividend basically as a smoke screen to make people think they're doing well back in late July. Yet late last week, Wells Fargo raised $2 billion paying 9.95%. There's no way they can make money by borrowing it at 10% unless they leverage big time which means huge risk. They raised the dividend payout yet borrowed money at 10%? Why didn't they just cut their dividend? Tricks should be punished.Usually wild daily swings in the index result in a market "crash." Not so sure this time though, I think stocks are cheap enough that buyers enter whenever there is a drop like today and the decline will be steady with no "shoe drop" in the index. After all, corporate profits are not shrinking.
Naustica, you still holding FNM? Exit point if not?
Naustica, you still holding FNM? Exit point if not?
Cdubneeddeal
Diamond Member
- Oct 22, 2003
- 7,473
- 3
- 81
Holy shit! Did you see the stocks today? On my large cap, I lost $3.50 a share and $1.30 a share for my mid cap bringing my YTD to -17.9%
ponyo
Lifer
- Feb 14, 2002
- 19,688
- 2,811
- 126
I'm still holding Fannie. I placed sell order at $1.30 before I left for work. Never got hit. I'll try it again today. It's not a big deal. Only bought 2,000 shares just for giggles. If I make anything on the position, I'll use it buy some toys for my daughter and a nice dinner for the wife.
If I lose, I'll still have to buy some toys for my daughter out of my pocket but wife loses the dinner. Talk about wild swing on BQI. It dipped to $1.68 today. Normally this stock hangs around 3.50-4.50
Originally posted by: bonkers325
azurik is a self-made millionaire, didnt u know?
and he knows a girl I went to high school with....small world eh?
In other news...freddie mac is now a penny stock...and who says we're in a recession??
So I lost $40k in a week, ~30% of my portfolio. I think I'm going to pull my money out on Monday (hopefully we'll see a rally thanks to LEH) and call it quits..forever.
How'd I lose so much? Well...I had most of my portfolio in Freddie Mac and made a killing. I didn't lock my profits though, and last Friday when rumors started flying around about a government takeover I pulled out @ $4.20 aftermarket. Not including profits I made, that was $27k down the tubes. Lost another $6k to Visa (purchased @ $85), and $7k to Colfax (bought last Monday, on Tuesday hedge funds started dumping the stock and it fell 18%).
Talk about bad luck.
How'd I lose so much? Well...I had most of my portfolio in Freddie Mac and made a killing. I didn't lock my profits though, and last Friday when rumors started flying around about a government takeover I pulled out @ $4.20 aftermarket. Not including profits I made, that was $27k down the tubes. Lost another $6k to Visa (purchased @ $85), and $7k to Colfax (bought last Monday, on Tuesday hedge funds started dumping the stock and it fell 18%).
Talk about bad luck.
Ouch. That sucks. I think we all suffered losses these past few months. I pretty much got reamed by LEH.
ah man I'm sorry. Well, OTHER than that were you doing well? It's not like what you got caught by was common. It's like a company randomly deciding to dilute. You just hope you never get caught up in it.
Yeah, I was doing pretty good before that but I'm down $40k from what I started investing with (meaning I lost more than $40k if you include previous profits).
It was completely my fault though, I did a piss poor job at diversifying..well, I saw stocks on the run up and thought it might be smart to put a crapload of money in it. Some people call this greed heh.
It was completely my fault though, I did a piss poor job at diversifying..well, I saw stocks on the run up and thought it might be smart to put a crapload of money in it. Some people call this greed heh.
lol I don't cry..but it's totally messed me up. I don't sleep anymore because my mind keeps working, trying to figure out how to "make it up."
Sorry to hear about your loss, but in a way it's comforting to know I'm not the only one who was bruised by the market. If I can't pull out at what the market closed at on Friday I'll be down more than $40k (Lehman deals went sour from what I read) but I need to salvage what I can for a house / wedding...
Sorry to hear about your loss, but in a way it's comforting to know I'm not the only one who was bruised by the market. If I can't pull out at what the market closed at on Friday I'll be down more than $40k (Lehman deals went sour from what I read) but I need to salvage what I can for a house / wedding...
Engineer
Elite Member
- Oct 9, 1999
- 39,230
- 701
- 126
It's been nearly a year for me...and it's still so saddening. My wife, the wonderful woman that she is, was so "suprisingly" understanding about it all. Watching my 401k shrink and shrink is of no help. As far as the how to make it up, I've been going through that for a year....I have no answers. Being scared to even attempt the markets again, other than funds....and a wife, who as underatanding as she is, wants no part of the markets again. This time, I'll listen to her....my way didn't work.
Lehman files for bankruptcy, merrill is begging bank of america to take them over, and the fed will have to cut tuesday. What a shitstorm.
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