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Home > General > The Cantina > Did anybody buy Fannie Mae yesterday?

Did anybody buy Fannie Mae yesterday?

 
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gleek
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Did anybody buy Fannie Mae yesterday?
« on: November 25, 2008, 10:48:03 AM »
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Fuzzy
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Re: Did anybody buy Fannie Mae yesterday?
« Reply #1 on: November 25, 2008, 12:32:26 PM »
Citigroup was up almost 60% yesterday.

Not comfortable gambling in the financial sector these days however.
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"You have brains in your head. You have feet in your shoes. You can steer yourself any direction you choose."
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Aske
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Re: Did anybody buy Fannie Mae yesterday?
« Reply #2 on: November 25, 2008, 12:39:57 PM »
Quote from: Fuzzy on November 25, 2008, 12:32:26 PM
Citigroup was up almost 60% yesterday.

Not comfortable gambling in the financial sector these days however.

It's really not a bad thing IMHO ($0.02) to dump a few hundred (or thousand, depending on the size of your portfolio) $ into long term call options on some of these turds that are "too big to fail" and trading at $0.50-$1.00 or so right now.  18-24 months out, if they're really at 0, then the system has totally collapsed, and you've got bigger problems than being out a few grand.  If they go back to even $10 a share you're up big.  If they go back to 1/2 their value from Jan 2008 you're up WAY big.
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Fuzzy
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Re: Did anybody buy Fannie Mae yesterday?
« Reply #3 on: November 25, 2008, 01:03:03 PM »
Quote from: Aske on November 25, 2008, 12:39:57 PM
Quote from: Fuzzy on November 25, 2008, 12:32:26 PM
Citigroup was up almost 60% yesterday.

Not comfortable gambling in the financial sector these days however.

It's really not a bad thing IMHO ($0.02) to dump a few hundred (or thousand, depending on the size of your portfolio) $ into long term call options on some of these turds that are "too big to fail" and trading at $0.50-$1.00 or so right now.  18-24 months out, if they're really at 0, then the system has totally collapsed, and you've got bigger problems than being out a few grand.  If they go back to even $10 a share you're up big.  If they go back to 1/2 their value from Jan 2008 you're up WAY big.


True. I've kind of done that with a few companies in the tech sector. I'm more comfortable understanding their business and prospects. Not always $1.00 stocks but good buys right now.
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stroh
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Re: Did anybody buy Fannie Mae yesterday?
« Reply #4 on: November 25, 2008, 01:04:28 PM »
Aske, don't expect FLT to be trading that low anytime soon.
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