F***ing Scottrade. I can't even buy a FRE or FNM without calling my local branch. Damn they piss me off sometimes. I just don't feel like going through the hassle of moving my whole freaking IRA since most of my money is in funds and ETFs, but I kept a small amount to trade, and can rarely buy what I actually want to buy...
Posted by SoAngel on :
Yeah, I know the feeling. I pulled a quick trade with C & WB, but I was a little too shaky about FNM. When I saw the message to call the branch, I figured I better just stay away. It is up over 1.00 since then (it was 8.22 at the time).
Posted by PCola77 on :
Oh what am I so upset about, I didn't need that 20%+ gain anyway...
GRRRRRRRRRRRRRRRRRRR
Posted by PCola77 on :
Now up 60%+...
Posted by crockett on :
You guys think this will see any more bumps up in the $10 range like when it opened, or you think it's now stuck in the $7 range or lower for a while?
Posted by PCola77 on :
No idea man. Friday afternoon I said anyone who held oevr the weekend was nuts. So of course it runs into the close and gaps up like 25%...
I'll never understand the markets...
Posted by PCola77 on :
Just moved my IRA to ETrade. I felt bad talking to the Scottrade guy (I'm such a pu**y in real life), but I can't keep getting held out of good trades.
Posted by PCola77 on :
In for 1000 shares of FRE at 5.04. Hoping for another bounce.
Posted by PCola77 on :
Out at $5.60 for 11% gain. Going nuts now though, up to $5.75.
Posted by PCola77 on :
Just shorted FRE at 6.73.
Posted by PCola77 on :
Apparently didn't time tha one so good... Flying up now. $7.21 and showing no signs of slowing.
Posted by PCola77 on :
Well, I was right that there'd be a substantial pullback, just timed it wrong. went as high as 7.29 before pulling back into the 6.80s. Still holding the short and think it will be back in the green tomorrow.
Posted by PCola77 on :
Um... Just doubled up at 8.32. C'mon, drop back down to the low $7s!
Posted by PCola77 on :
Covered at $9.44, that was painful. Wow.
Posted by PCola77 on :
Hmm, wonder if I could have played that one worse... Now at $8.30
Posted by glassman on :
PC, i would be very careful about playing (short) any of the stocks that have been selected for "special interest" in terms of the NS issue...
the "new rules" will make the TA very difficult IMO.
Posted by PCola77 on :
Yeah, that was just dumb of me. Should have avoided it altogether. Even if the rules have no real impact, the *illusion* that the rules would do something could have been enough to create a short squeeze. Just lack of thought on my part.
Posted by PCola77 on :
quote:Originally posted by PCola77: Um... Just doubled up at 8.32. C'mon, drop back down to the low $7s!
And of course it's now down to where I would have made money, instead I took a huge bath. Too bad I let emotions rule that trade.
Posted by R1 Man on :
quote:Originally posted by PCola77:
quote:Originally posted by PCola77: Um... Just doubled up at 8.32. C'mon, drop back down to the low $7s!
And of course it's now down to where I would have made money, instead I took a huge bath. Too bad I let emotions rule that trade.
I grabbed FRE yesterday at $6.03 and watched it drop to $5.93 and was like WTH. When it hit $5.15 and dropped again....I changed my sell and sold at $5.12 to make $69. Wish I had held....DAMN!!!!!
Put my order in yesterday for FNM at $8.24 and right when I submitted the order it shot up. Adjusted it for $8.35 and never made it back down. Somedays you never win.
Posted by PCola77 on :
Yeah, I know what you mean. I was on a nice run lately and just gave it all back. Oh well. I'm confident that I'll make it back. Just sucks.
Posted by R1 Man on :
Well if it makes you feel better....I took my GM loss of about $9,000. Ameritrade made me pay back almost $5,000 in Margin Requirements....so I sold some then when it moved up to $9.96, I dropped it all. Had 1,956 shares. Missed out on making back $4,577 of my loss. Plus Ameritrade gave me a warning of being a Day Trader....lol. Got 2 more strikes I can take then I'm hit.
By the way, My father and I talked about FRE and FNM. If the government buys the stock, my father says they would dillute the market and the stock would go down hard. Something to think about.
PS....I tried to short GM, FRE yesterday. Ameritrade wouldn't let me. Glad they didn't.
Posted by bksundar on :
On a brighter side consider OTTR for long term wind energy play - IRA etc . Bill Gates Cascade Investments owns quite a lot and he did well till Q2 of this year , when others have been losing ...
Posted by crockett on :
Well it seems to be inching it's way back up. I got in at 7.90 and I'm sitting on the fence on selling. I should have sold when it hit the low $9's today but I was AFK and had it set to sell * 10.0.
It does seem to be inching up but if it keeps trading sideways tomorrow I'll just sell. Looked like we might get a little pre-close run as it hit 8.48 and then dropped back to the 8.30 range.
Posted by R1 Man on :
Grabbed 1,000 shares of FNM at $10.72 right before close Thursday. They announce a DIVY in August.....should be $1.65 or 15% of the current price.
Posted by crockett on :
It's getting some nice runs today
Posted by crockett on :
looks like people are taking their profits before the weekend... Might be a good time to buy back in, it's down to 8.77
Posted by R1 Man on :
FRE....$10.10 premarket FNM....$14.90 premarket
Posted by crockett on :
quote:Originally posted by R1 Man: FRE....$10.10 premarket FNM....$14.90 premarket
yea it's looking nice I'm in still from 7.90 Posted by R1 Man on :
I flipped them both a few times. Made over $5,000 on them both.
Posted by PCola77 on :
Damn man, nice job. I did almost the same last week on the long side, but then lost it all and more on that one bad short above. Oh well, live and learn...
Posted by R1 Man on :
Bought 2,000 shares Friday at bell at $8.72. Sold at $10.40. Then I missed my re-entry today. I was going for $10.00 and it kept coming back to $10.20 range so I adjusted it and bought 2,100 at $10.15 then it crapped out. Think I saw it at $9.30 today. So much for my $2,830 gain this morning. Only if I had been GREEDY!!!! Might of dodged the $1,050 I'm down on the repurchase right now.
But really, Oil went up today to $131 from $128. Market is in the RED. So there's the reason it dropped from opening bell. But very pleased I sold. Posted by crockett on :
hehe I know that feeling.. I swore I was gonna sell today if it kept trading sideways. So what's it do, it runs like hell and I second guess myself on selling in the 10.40 range.
I was sooo close to pulling the trigger but I got greedy expecting that it might still hit $11 in the next day or so.
I can't day trade so I have to get the max profit each trade. Which makes me second guess sells sometimes.
It's all good though I'm well in the green still and this one seems to do a good run at least once a day. It had a little bad news today and seems to have found a happy place in the mid $9 range.
Posted by crockett on :
Tomorrow should be a day to watch this one again, I'm pretty sure the house votes on the funding bill tomorrow.
Posted by Bill2Drunk on :
I hope so!! I changed my sell to $12.00. In with my 2,100 at $10.15. I was soo sick this morning when I say $6.67 and a $6,000 loss. YUCK!!! I do agree, it will move back up even more. Especially with having a strong finish today. Hey, I wish I was GREEDY when I was buying back in Monday.....so selling at $12 should be GREEDY enough. (R1Man)
Posted by crockett on :
Ok I just confirmed it will be up for vote tomorrow..
A major rescue package for the U.S. housing market is scheduled to come to a vote in the House of Representatives on Wednesday, after lawmakers agreed on the final language late on Tuesday.
Designed to bolster Fannie Mae and Freddie Mac, the biggest U.S. mortgage companies, a provision drafted by the Bush administration was added to a broader housing bill that has been in the works for months.
The overall measure now has wide, bipartisan support in both the House and the Senate, said Representative Barney Frank, Democrat of Massachusetts, the chief architect of the legislation.
The added provision, proposed by Treasury Secretary Henry Paulson Jr., would give Fannie Mae and Freddie Mac access to government capital in the form of loans or equity purchases.
The stock prices of both Fannie and Freddie have seesawed wildly in recent days on investor concern about whether the two government-sponsored enterprises, or GSE's, will be able to ride out the worst U.S. housing market slump in decades.
The firms own or guarantee almost half of the $12 trillion in outstanding residential mortgage debt in the United States. They are playing an increasingly vital role in the housing market, with foreclosures up, home values down and global capital in full retreat from private markets for securitized mortgage debt.
In estimating the potential cost to taxpayers of the Paulson proposal, the nonpartisan Congressional Budget Office said it was uncertain whether the GSE's would ever need to tap the capital line that Paulson wants to offer.
The agency's $25 billion estimate was couched in language that made clear the cost could also be zero, if the capital line is never tapped. At the same time, the agency said there was a slim chance that the losses at the GSE's could top $100 billion.
The White House has urged Congress to move quickly to approve the Paulson plan, citing the GSEs' importance.
But a Bush administration spokesman on Tuesday evening criticized Democrats on Capitol Hill over the 694-page bill that will include Paulson's GSE rescue plan.
"It's clear that the Democrats chose to play politics with the legislation, and unfortunate that they're doing it with legislation that will prevent systemic risk to our financial system," said the White House spokesman Tony Fratto.
Steven Adamske, a spokesman for Frank, replied: "We will wait to read the official statement of administration policy, which we have not seen, rather than respond to political hacks who clearly have no idea what is at stake here."
Paulson used a speech in New York and television interviews on Tuesday to push for passage of his GSE rescue plan, a key part of a package for which some senators signaled support.
"We remain optimistic about the prospects for this legislation," said the Senate Banking Committee's leaders - Christopher Dodd, Democrat of Connecticut, and Richard Shelby, Republican of Alabama, in a joint statement Tuesday evening.
If the package moves through the House on Wednesday, it would then go to the Senate. Once approved by the Senate, possibly before the weekend, the bill would go before President George W. Bush.
While the White House favors much of the bill, it has threatened to veto it over a provision that calls for almost $4 billion in grants to states and communities for buying and repairing foreclosed homes in distressed neighborhoods.
The White House opposes the measure because it says it helps lenders and not homeowners. Democrats backing the grants dispute this, saying that foreclosed homes drag down property values for surrounding homeowners.
Under language agreed to by lawmakers, the bill would also give the Federal Housing Administration, or FHA, a role in helping thousands of troubled homeowners refinance from costly, exotic mortgages into more affordable, government-backed loans.
It would set up a new regulator for the GSEs and raise the size of mortgage loans that the GSEs and FHA can guarantee.
The new GSE regulator would have substantial authority over executive pay at Fannie and Freddie, while empowering the Treasury secretary to restrict dividend payments by the GSEs if they tap into the new Treasury capital line.
Finally, the bill would leave the secretary to decide what kind of equity investment the government might make in Fannie or Freddie, if it makes any at all.
Shares in Fannie closed down 5.1 percent at $13.41, while Freddie shares finished up 10.9 percent at $9.70, on a day of broadly bullish trading on the New York Stock Exchange. They are down 66.5 percent and 71.5 percent, respectively, so far this year.
Posted by SoAngel on :
I wonder where the FRE bottom is now after the news this morning. Trading pre-market < 6.50...
I am not in FRE right now, as I lost quite a boatload of cash about 2 weeks ago on it...
Posted by PCola77 on :
Looks like I should have held onto my short...
Posted by R1 Man on :
I kind of think today at some point will be a good time to load up. Sell at $7.00. Especially if what crocket posted is true.
Posted by R1 Man on :
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will make the TA very difficult IMO.
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