Replies to post #7078 on Ambac Financial Group Inc (AMBC)

[Beardeus]

How low did WAMU and LEH go before the first initial bounce? Should I invest in the preferreds or commons? I am going to sell for a loss another stock I've been holding, even though I think it is going to run, and get into this.

[Superfly15]

I'm ready and already entered with a starter :-D.

I definitely would not call this WAMU though guys, WAMU actually stood a chance of keeping some classes intact. This turd though...who knows it may even liquidate. All the bad stuff is already sealed away where it can't hurt anything, and as Jaxtraw said there is literally no assets under file.

AKF and AKT are really high risk as well, I would play the bonds if someone wants to play this one, ABK.GA, one of them, is selling at 18c on the dollar as of the close yesterday. I would think it will really dip with the panic this morning.

http://cxa.marketwatch.com/finra/BondCenter/BondDetail.aspx?ID=MDIzMTM5QUE2

Me though, I will take my winnings/losings and just play the common for bounces. Lots and lots of shorts left to cover :-)