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I just added 1,200 shares @1.24 based on the Fairholme interest in FNMA...they are most likely not the only $$$ investors looking at FNMA.
Good luck.
lol...I wasn't expecting anything big, just wish I had been more clever and waited to buy shares today, I could have gotten about a hundred more shares :) I am long on this because I a scardy cat when it comes to flipping or swing trading. So I buy and sit.
GLTU and all.
Gee, maybe Obama really did scare away the investors.
Wish I had not bought at 1.63 the other day...but no one could have anticipated this.
Time to hunker down and dig in.
"The two firms had become nearly the only source of funding for home loans, and their debt was held by banks large and small across the country."
Is the above statement correct? The banks don't hold the debt of FnF...FnF bought the loans from the banks to increase liquididty in the market...something misleading or just plain wrong with that statement?
I swear you can't believe anything you read anymore.
The stock market is a market of opportunity.
Stocks trade based on a companies potential for growth.
While I get your points...the market doesn't agree.
.20 to 1.54
That is enough proof that the points in your list don;t matter to the market. Opportunity does.
No offense.
Your not serious I hope.
The money is not yours, it belongs to the Federal Governemnt, the collective of American taxes. The bailout was given from the pool of tax money (loosely speaking), and the pool is being replenished through the FnM repayments. You personally will never see a dime and you personally never gave a dime.
You gave your consent through the voting process...our elected representatives have the power to make those changes and choices on our behalf, that is why we elect them...and have the power to impeach them. Start making phone calls if you want to take action, though I suspect you were just ranting for the sake of ranting.
We are not a Democracy, we are a Republic which practices democratic principles.
"I pledge allegiance to the flag of the United States of America, and to the Republic..."
Might pay to keep in mind no one was expecting the ER today...everyone here though it would be tomorrow...so maybe the rest of the world jsut hasn't gotten the news yet or was not prepared. That's how I am gonna look at it...and I am happy to have gotten more shares at 1.63 rather than 1.80.
GL to you.
Guess the Germans are pretty pissed too.
I put my order three minutes before the bell at 1.63. Got filled right away. Glad I didn;t do it any higher based on the premarket trading.
What a nasty thing to say!
I woud be more concerned with the underserving welfare recipients and the trap that people get stuck in.
There is nothing wrong with receiving disability assistance.
Funny, the more you watch people post here the more you learn about them.
OTC/BB cannot be set to use Triggers, at least not in TDAmeritrade..I tried.
Any thoughts on where pps will settle to after the Q2 run?
Took me an hour and 45 mins to get filled at 1.49 for 1336 shares.
I tried at @ 1.47 and 1.48 as well and nada.
Oh that would just make me too happy. I misses the .20's and all that fun millionare making stuff. A slide to $1 would make my lil' $2000 go a long way in a year.
For all those that are cursing the drop, just remember in order for the the selling to take place someone else had to be buying.
So those huge sells were also huge buys.
If your not day trading this then the huge gapping crack in the ground that opened up right in front of ours toes, well we can just lay down a plank and keep on walking up the hill into next year where the real money is gonna be if our wager ends in our favor.
-Frdmlover
No bought first 5000 shares, they weren't free.
Say they were bought at current price of $1.56.
It seems and I could be wrong that the buy price is of no consequence when the end math regarding the taxes affects your botom line in the flip.
But that the point, if you don't consider the tax cost for short shares, you could hang yourself in the long run by paying out more in taxes than you are actually improving your position.
If you were to sell at 8.00 it is a big hope that the stock will slide to below 5.50 (ish), which is where it would need to be to be able to buy back more shares than you sold...to improve your position in the long run. With Fannie in particular once it hits the $8.00 range doesn't it seem less and less likely it will slide back $3.00.
The even bigger risk is that scenario is if Fannie never makes it to the big leagues of the 30-50 dollar range then you are really long term screwed.
Thanks to anyone who cares to elaborate :)
Can someone help me out to make sure my math is correct, and logic.
If I have 5000 shares, sell them at 8.00 for $40,000.00, and buy back in at $6.50 then I lose money and shares.
If the shares are short (held for less than a year) then the tax is 30%...so 40,000 x .30 is 1200... 40k - 12k = 28k / 6.50 = 4307 shares.
I come out with fewer shares and haven't actually improved my original position of 5000 shares.
So, if you were going to flip you would have to gamble that the value of the shares after the buy back was going to far exceed the value of the original shares.
Is any of this right or am I way off base?
THanks for anyone who has the time to clarify, could make a difference for me and anyone else who has not considered taxes when debating whether or not to try and flip for profit.
-Frdmlover
You don't lose until you sell :)
If it helps, I have lost about $50k playing the stock market and haven't won anything back...I am hoping FnF will change all that.
I have just over 3178 shares @ $1.56 and hope to buy more when I can afford to.
You can't win if you don't play, isn't that what they say :)
Why do you keep calling it a pos but you thought it would be flying?
POS is a really strong term that should be reserved for stocks, companies and CEOS who do nothing to support the shareholders and whose shares are diluted over and over again basically reducing the long shareholder's share value to junk. If you have ever played the .000 pennies you would know what a POS is. FnF is not.
FnF is risky and volatile, big difference.
Just curious, care to state what those catalysts are?
Anything over 1.46 and I will be one happy camper. IT would be my best buy ever lol.
Fortunatley that buy averaged me to 1.56...which I feel great about vs. that 1.76. So over all I am happy and will hope to be able to afford more shares next payday.
-Frdmlover
Bought mine at 1.46 and did not split my funds.
It may go up or down tomorrow, who knows. But it was a fun day trying to decide and waiting it out. I feel like I got a great deal.
-Frdmlover
I agree, even with my current positon at 1.76 I am not worried, I am playing for the much bigger pipe dream.
1.47 is starting to look good to me after some feedback and info and from watching L2 and TIme & Sales. So I am seriously considering halving my funds and buying in at 1.47 today and then have some funds for tomorrow in case I can get a better deal to add to my position. That feels like a comfy compromise.
-Frdmlover
I will keep that in mind this last hour Whosamesa, thank you for the headsup. I wasn't sure about the Fridays.
-Frdmlover
I am thinking just the obligatory EOD run, then back to mid 1.40's...and quite possibly 1.42, I only pick that because that is where my buy order is :)
But I don't have any confidence a last minute run wil hold into tomorrow so not changing my buy order. Either it fills today or I sart all over again tomorrow and hope I was right today lol.
-Frdmlover
Cansomeone post the curfrent chart with current support and well, anything helpfull :)
Thnx - Frdmlover
Not so sure I would call that "extremely"...extreme to me would be below the lower line. I think it could sell some more.
What I am curious to kmow is do the the Dems have any say so in what happens with FnF? Or are they all on the same page. And if they "wind down" FnF does that mean they shut down the business and our shares are worthless, or does it mean they sell the business to private firm and we keep our shares?
Those are the couple things I am most interesting in...anyone have any answers?
Thnx,
Frdmlover
Swandive.
Hmm, maybe my buy order at 1.42 is on trac...what an accident that would be. Thing is if we go to 1.40's what is there to lift it back up on a Friday? I would hate to buy today and have it actualy go to 1.30's like some people said the other day. Thoughts on the posibility anyone?
-Frdmlover
Yeah now I am watching, but volume has been building at 1.52...might have to wait till after lunch (like 3 pm est) too see what I will do.
Looking more and more like I will get a better deal tomorrow?
- Frdmlover
Thanks for the follow up, it helps when charting your (my) own course.
I put in a before hours buy at 1.42 and then took a nap to resist the OMG buy. It worked...I don't feel so anxious to modify my bid and will wait till EOD to make my final call. If looks it to be closing at or above 1.50 I will wait until tomorrow. If it falls below 1.50 I will buy today only because that is a price I am comfy with. I have no idea which will take place, but I figured out neither does anyone else.
If you or NT catch a different sentiment please share it :)
GL - Frdmlover
Very insightfull, between you and NT I am happy to have mentioned what I did. Than kyou both for taking the time to provide such helpfull information without the I would and you should and all that junk.
I will watch what happens today and give consideration to your advice on the last hour. I feel the same way as I stated before...but you are right, the "I am gonna miss out" syndrome is mighty difficult to forego. <----expert.
-Frdmlover
Thank you for that indepth response.
I will educate myself about resistance and support.
-Frdmlover
Thanks for the clarification, saved me a phone call.
I did not think you could use margin accounts on OTC stocks?