Thanks for the downgrade RBS! I was thinking about getting in with my 3rd position but was waiting for something to take it down under $22 and had been kicking myself for not jumping in over the last month when it was scraping $15. Today is the day.
Bought a big position more than a year ago at $18.18, and a smaller one earlier at $7.98. Bought another medium position today at $19.95.
Re-fi's and the bottom of the housing market means this will be a good performer. Just my humble opinion!
OK, a question from a novice here. I need some amateur advice. I bought another position of FNF at $19.95 the other day. Today the price is $19.30. Why wouldn't I sell my position at $19.30 and eat the loss, but then re-buy in at the $19 FNF is going to sell the upcoming expanded offering for? Thanks!
You could do that but be careful of the wash sale rule which will disallow the loss if you repurchase the same security within 30 days. Personally I thin the stock is way overvalued and that the combination of unreserved claims plus stock dilution should drive this down to the 15 range in the next few quarters.