Posted on 03/19/2009 2:12:20 PM PDT by FromLori
This is my speculation “play money” anyway. I own GE, AIG, and Citi. I am going to hold hold and see what happens. This is more fun than betting on basketball games.
You more than doubled your money. I would sell. If it starts going up again invest your profit but not your original investment.
it traded all day in reg session, and was halted for only a few seconds before the regular premarket opened at 6am.....1.244 billion shares of common traded today
http://www.nasdaqtrader.com/Trader.aspx?id=TradeHalts
You and I both. I bought 1100 shares last week at $1.03. Surprised that it fell from $3.86 today to $2.60.
sw
6am = typo...should have been 8am
Sorry to be so blunt, but this market is like a Blackjack table: put in your money and walk as soon as you double up.
That would be my guess as well. There's been a lot of speculation that both C and GM would be dropped.
What do you hear about GE?
What is FDIC Friday?
Hell NO! (and congratulations on your profit)
The shareholders got zip - I had bought 5000 shares in the mid 3 dollar range 11 minutes before the close, and sold them 10 minutes later for a quick $340.00 profit. 2 minutes later the stock was worthless. It now trades as WAMUQ, and I still have 65 shares in my IRA that I bought at $3.92, now worth just over 4 cents/share.
The Omamament can and very certainley will nationalize any company they damn well feel like, and not take the time to give you a kiss while they're getting dressed (well, Barney probably would).
Just remember, if you see a company that has had it's market cap pushed down beyond reason and is an attractive take over candidate, investors are now competing with the government, and they can confiscate instead of submit an offer.
I was very tempted to plow 5 figures into etfc between .60 and .70, and would have done very well, but for the fact that Barney & the rest of the turd burglars might decide it'd look good in a teddy and take it home. Some other events have me thinking that they're setting them up for a fall, only this time w/o investing a penny.
Consider as well, that any financial company with analysts that berate other financial companies might very well be prodded by their own self serving interests to do so, especially if it makes the company worthless (see Schumer/IndyMac).
We are now in a position where the government is competing with shareholder owned companies, and if the fed is failing while the shareholder held company is thriving, they can and obviously will nationalize it with little or no compensation, or simply change the terms after the deal has been consumated.
Traditionally the FDIC takes over banks quietly on Fridays after close of business.
Did last week even have a Friday?
Nope.
say what you want, but Primerica has been a great company for years. too bad they went “under” Citibank. (and no, I’m not a rep for Primerica—just have a lot of respect for the company)
It was just an attempt at a joke about MLM.
Stocks usually get hammered after a reverse split, it does not bode well. If they don’t shed 10-20% shortly thereafter it would be most unusual...
Altered universe...maybe a polar shift in reality
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