NCC is a beaten down bank that is cheap and a potential buyout from a larger bank ( maybe WFC). At any rate this is a gamble play based purely on the bailout and potential takeover. I do not have a large position and am willing to risk that this stock goes to zero. Good risk/ reward imho....
your right its a total gamble, one i am willing to take none the less.... If it goes to zero it is within my risk parameters. Some very large prints going through today...
Before you gamble on NCC, take a look at their exposure to mortage-backed assets. They are concentrated heavily in these assets, and they exposed to the midwest region, which has suffered badly due to the manufacturing downturn. I am not making any predictions about the fate of NCC; just raising some points about them that I feel are relevant and important - they are HQ'd in my neck of the woods, and I know that they are stuggling.
Thanks for the info buy lo. I may take half of my position at the close as I am up pretty welll on this as of now...
If you got in and are making money today since it really is doing well today, I'm sure you'll get this same advise from anyone that got stuck with WM and WB thinking they got in at bargain prices. Take the money and run...fast!
the odds that you will sucessfuly pick the bottom in this stock are pretty darn low. you've been warned