Yeah, should of jumped back in under $25. I ended up flipping into GM, EBAY, and XLF....evrything just went retardedly high. Got out with profits on all 3 thank God. I may short this garbage if it decides to make a sucker rally run again tomorrow. Most likely, I'll just stay away from it...
God damn POS got a follow through jump again. Financials just want to keep on rebounding. Not touching it unless a fresh shoe drops and it gets a beat down again. Wish i held my position. I won't be surprised if she sees $30 though...
DONOT touch it with a 10 foot pole. DONOT touch financials and housing stocks, they will burn you most likely. Its those pump and dump half truths and lies milling around Internet boards.
I suppose it depends on your appetite for risk. Risk and reward directly correlated. When we hit 1250 I started buying bank stocks and will continue from there down as we will eventually revisit the lows and perhaps even make our way to 1150 in the S$P. But i'm only buying banks with minimal or no exposure to subprime. BancorpSouth being one. (They don't sell their loans) I'm buying that one at 21 and under. I'm settling for lower gain and less risk. I have a long time horizon. I also like UCBH in California (Chinatown bank on west coast making inroads into China.) Asian folks take care of their debts.