Official Let's Make Some Money Off Stocks Thread
07-14-2008, 07:18 AM
#351
Downey Financial (DSL) and/or Thornburg Mortgage (TMA) will likely be the next to fail
The media isn't allowed to show the line of people standing outside of Indymac this morning. They are afraid it will send the public into panic and cause a bank run.
The media isn't allowed to show the line of people standing outside of Indymac this morning. They are afraid it will send the public into panic and cause a bank run.
07-14-2008, 11:59 AM
#353
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Thread Starter
My dumpster diving today included chunks of GM, DOW and WM.
I bought 100 shares of GM for 9.62, 100 DOW for 31.40 and 300 WM for 3.25
These are my speculative plays so the orders aren't large but I figure if GM goes to $13 and WM goes to 0 I break even.
I bought 100 shares of GM for 9.62, 100 DOW for 31.40 and 300 WM for 3.25
These are my speculative plays so the orders aren't large but I figure if GM goes to $13 and WM goes to 0 I break even.
07-14-2008, 12:14 PM
#354
Originally Posted by AZDavid,Jul 14 2008, 06:47 AM
I think you can buy GM, BAC, C, F, and UAUA today if you are willing to not look at your account for about a year. After a year you have a very good chance of earning over 100% on a couple positions. These companies are too big to fail and will be bailed out. GM should be bankrupt but it is part of the American identity and will not be allowed to fail.
The reward/risk payoff at this level is far more to the upside than the down.
The reward/risk payoff at this level is far more to the upside than the down.
07-14-2008, 12:16 PM
#355
Originally Posted by cthree,Jul 14 2008, 12:59 PM
My dumpster diving today included chunks of GM, DOW and WM.
I bought 100 shares of GM for 9.62, 100 DOW for 31.40 and 300 WM for 3.25
These are my speculative plays so the orders aren't large but I figure if GM goes to $13 and WM goes to 0 I break even.
I bought 100 shares of GM for 9.62, 100 DOW for 31.40 and 300 WM for 3.25
These are my speculative plays so the orders aren't large but I figure if GM goes to $13 and WM goes to 0 I break even.
07-14-2008, 12:16 PM
#356
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This market is very sick and no one wants to go long. Up 100 points early in the day and finished down 45 points for the Dow.
I'm doing a little shopping on the Canadian banks. A lot of them are close to 52 weeks low =) and pay a nice dividend. IMO they are safer than the US banks right now.
I'm doing a little shopping on the Canadian banks. A lot of them are close to 52 weeks low =) and pay a nice dividend. IMO they are safer than the US banks right now.
07-14-2008, 12:25 PM
#357
Genentech missed earnings but raised future guidance to offset shareholders going crazy. Stock is now even on the news.
I am very worried that we didn't rally today on the Fannie and Freddie news.
I am very worried that we didn't rally today on the Fannie and Freddie news.
07-14-2008, 12:47 PM
#358
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Thread Starter
I'm not at all surprised we didn't rally today.
There is nothing wrong with the market except long-term investors have no confidence in where it is going. At some point soon the valuations are going to get upside down with reality (already are but few seem to realize it) and the dam will break wide open as people flood back into the market with long term capital.
It's too soon for a real rally. You'll see a large open and a lower close. No bailout is going to restore investor confidence. I want to be buying on the back side of any band-aid measures Monday morning.
07-14-2008, 01:11 PM
#360
Registered User
Originally Posted by AZDavid,Jul 14 2008, 01:16 PM
May want to take a look at NVDA if it gets to $10