New Century Financial Under Criminal Probe; Fremont Quits Subprime Market
- Thread starter ByLoSellHi
- Start date
That is sooo Bear Stearns.
I hope LEND gets a 1-2 point bounce tomorrow. I'll short that sucker so fast...
Woulda, coulda, shoulda.....I'm in the same boat kicking myself over the subprime lenders.
About a month and a half ago, maybe more, I talked to a credit analyst friend of mine one morning about the potential for subprime to worsen - she painted an ugly picture, worse than I even thought it was. I quickly went through all of the publicly traded companies, and narrowed it down to three names to short. But after looking at the charts, it appeared it was too late - they had already fallen pretty hard.
And of course, my number one pick......NEW. It has fallen at least 75% from when I first checked the charts. DOH!!!!!!
About a month and a half ago, maybe more, I talked to a credit analyst friend of mine one morning about the potential for subprime to worsen - she painted an ugly picture, worse than I even thought it was. I quickly went through all of the publicly traded companies, and narrowed it down to three names to short. But after looking at the charts, it appeared it was too late - they had already fallen pretty hard.
And of course, my number one pick......NEW. It has fallen at least 75% from when I first checked the charts. DOH!!!!!!
Hey guys, just found this forum and good to be here.
I hear ya about NEW. I'm not a big option guy and am scared to play them but trying to feel them out...here's my idiot move that would of paid off nicely today. (paper trade at investopedia)
2/27/2007 11:21 AM 20616238 Sell_To_Close Put NEW QW 40 $4.20 $89.99 $16,710.01 $97,450.03
2/16/2007 3:13 PM 20454505 Buy_T
pen Put NEW QW 40 $2.25 $89.99 $9,089.99 $99,890.02
I hear ya about NEW. I'm not a big option guy and am scared to play them but trying to feel them out...here's my idiot move that would of paid off nicely today. (paper trade at investopedia)
2/27/2007 11:21 AM 20616238 Sell_To_Close Put NEW QW 40 $4.20 $89.99 $16,710.01 $97,450.03
2/16/2007 3:13 PM 20454505 Buy_T
pen Put NEW QW 40 $2.25 $89.99 $9,089.99 $99,890.02Thanks for the discount!
Just shorted LEND at 17.46.
I'll see you guys at 10!
Can't decide if I want to scalp a few % on a bounce back or short anyone in this sector...feel like I missed the boat on the downside.
These stocks can be easily scalped intraday. However, the real profit, IMO, will be on the short-side longer-term. Fundamentally and technically, all signs point to sell.