ENFN: The Slow Road to Wealth or Just Dead Money???
I unloaded my enfn position and moved onto bluer waters. Nothing like the fast action of SINA. Go long for a pt or two, then reverse to short for another point...and close out intra-day to end with 100% cash and no miserable stocks to gap against you at the open on the next day.
Anyways, I think eeln proves my point that enfn missed its golden window of opportunity to go somewhere. EELN released a very good eps report...and tanked hard on the news...which, in my humble sharky opinion, shows what the Street thinks of mortgage financing companies. Of course, FRE's woes don't help the sector much either. I noticed the spread on enfn tightened somewhat...but in a southerly direction.
Perhaps if you wait long enough, enfn will pay off nicely. May it be so for you. But I suspect you will have to embrace a true blue Buy & Hold Strategy...and have years of patience. (By the by, I personally think your money would be put to better use in FRE than in ENFN...that is, if FRE drops a little more. If mortgage stocks are your cup of tea, FRE is likely to produce a nice return sooner than enfn.)
Good luck...and Happy Investing...as well as adios, amigo, for it is back to the Nifty Fifty Boards for this shark.
AceSharkster
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