s2kobsession

yea I was very shocked to get in the office this morning and see this!

AZDavid

Lot of shorts covering again at the end of the day. It won't be much time until stocks are overvalued.

sahtt

I shorted the rails and got paid. Thanks to whoever the specialist is for UNP. Went short, threw an order out over a dollar down, he swept it in 3-4 seconds. Wild ride. Like how DUG and EEV are both in the green for me too as well. Damn this is a crazy market. Most trader are pissed right now, bunch of order got stuck but mine were all fine since I toss it out to the specialist immediately and don't bother with the rest of it.

00S2K01S4

I'm thinking of picking up a lot (20K or more shares) of Fannie/Freddie soon for a long term hold. I don't think they will go away but who knows what the government will do to them. What do you guys think?

sahtt

I don't understand the logic of that when they are such better plays elsewhere. What is your out on the up and downside? Most people that do these sort of "lottery" trades have no predetermined outs. Make sure you aren't one of them.

PearlwhiteS2k

I think there's a short for the TSX but can't remember the symbol for it.

PearlwhiteS2k

I think it's a stupid move investing into Fannie and Freddie and hoping it'll bounce back to it's highs.

Cyberous

They are very volitile, so you can trade them on that. I wouln't expect either to get back to thier highs, but at the current price ~$1 you don't need much movement to get good gains (or losses). Not a trade for the weak at heart

Good luck.

sahtt

Picked up some EEV again, will buy again in the 80's if we see it. I don't think this trade will keep working this well much longer so I"m being more cautious.

00S2K01S4

As I stated above, I was planning on holding it long term (> 5 years). I'm betting housing should stabilize by then and maybe even start heading up (sales). I can see it hitting $5/share in 5 years.