the last chapter for fnm, fre and slm is Chapter 7. any other institution would have been auctioned long ago.
Going long in a bear market tends to work only when you buy at a capitulation point with panic selling. Averaging down as you lose more and more is one of the worst ways to play it.
The true horror of the situation is the government's response to the situation. The President or Congress should at least step in and form an emergency committee or even just make a token speech saying that they are closely analyzing the issue. FNM and FRE are not just any other companies, but ones in which hold up part of the economic framework of America. Where is the government while their shares are plunging?
http://www.marketwatch.com/news/sto...41-E707-45EE-A544-E5AC70234A9A}&dist=hplatest Senate moves on housing legislation By Ruth Mantell, MarketWatch Last update: 10:19 p.m. EDT July 7, 2008 WASHINGTON (MarketWatch) -- Massive housing legislation moved one step closer to passage Monday night, as senators voted to limit debate on the package. Senators voted 76-10 to move forward with the legislation that homeowners, lawmakers and industry hope will stave off further losses. Senators must still vote on passing the actual legislation, a process that has been slowed by disagreements over amendments.
Not trying to be too arrogant, but I don't think people who predict individual moves in a stock 2 weeks out know what they're doing. Especially when they bet the farm on it. More like gamblers to me. It's funny though, you can really separate the real from the fake on here.
I always wonder why everyone seems to believe that someone who writes about a stock on elitetrader is massively overleveraged into it. The fact of the matter is that I buy a a few thousand dollars here and there for a long term hold which doesnt seem like a lot of money to me. I can only conclude that the assumptions made in that regard are by actual traders who normally overleverage themselves which results in their disappearance from the site in due time.
ignore the indians, this place is like yahoo now. remember where your stop is and take a loss if you have to
had a nice pop at 17.50 .. sold half will sell half at 18... -------------------------------------------------------------------------------- Quote from bttweb: jumped in at 15... --------------------------------------------------------------------------------