Besides 40k i bt on my own account, there are another 8k more on my kid's custadian account. They're all ABOVE water now. However, I may sell into this rally in next few days. The dange of nationalize those banks still exists, right?
I bought today at 2.83. The last time financials were down 17% in a day was on Dec 1...and they rallied more than 30% higher in the next 4 trading days (60% for UYG). None of these banks are going to fail in the next 30 days...this market will recover and wait for Obama's administration to announce a plan. The Govt will likely buy troubled assets without diluting investors...as costly as that will be to the taxpayers.
Tomorrow we have a reaction to IBM posting an upbeat 2009 forecast indicating a recovery. The market has been looking for something to rally on and you can bet this is it. Additionally, US Bancorp is reporting tomorrow morning and was already beaten down severely today...very likely to rise and bring the sector up.
If you think JPM is going to stay at 18, youre missing the boat. Its the best of financial stocks and is still well capitalized. No reason for it to be at 18 given its earnings projections.
im in the same boat ...
8400 shares at 6.63 55k
i had 8488 but had some bills to pay.
this is my largest bet and hope that after 3 years of investing starting at 6700$ this can not be the end... can it?
i hope everyday as i watch it fall, im at 27k now from 55k
shorted oil dto 24 sold 96... then it went to 186 i suck!
I'm a first time buyer today @ 3.00 and already in the red! I have been watching this stock and never thought it would fall this far below 3! Looks like we are heading to a one bank system, isn't this what the federal reserve wanted anyway? Did you know the federal reserve is no more federal than Federal Express? I mean it's run by the top, top wealthest individuals in this country. Now let me tell you when your in debt you lose your freedom.