We saw the effects of the housing and mortgage crisis on the financials, how they crashed so low all the common folk dumped their share. Immediately after the scum bag hedge funds picked up the same shares at 5+ year lows. They rotated out of energy to free up the money thus causing energy to drop the same way the financial did. I think it is almost over but the punks want your hard earned shares cheap.... and you are about to give it up to them. When the next shoe in the financial crisis drops, the crash of the commercial property market, the poor suckers buying high in financial stocks will get a shoe up their ass again cause the hedge funds will start to dump them again!!!! OPEC is about to cut production and with China back on line, winter coming to the northern hemisphere I think things will look completely different by Feb 2009. If you are hurting and bleeding green.... you might want to try to day trade half your position knowing it spikes early and then crashes. If you trade only half of your position at least you get some calculated action without risking a total shut out if the pattern breaks. Sell half at the high and buy the same amount back later in the day. Just dont do more than 5 round trips within a business week unless you can afford to be pegged a pattern day trader. They you will need to maintain $25000 equity in your account at all times. Just my opinion how to trade but not investment advice on my part, I am not a broker, just a time tested trader.
Agree with you whole heartedly! Just read reports on Fidelity by Ford Equity Research and it calls BTU most favorable at $53.30. Also, S&P just put out a report upgrading BTU to 4 STAR BUY at $53.30. China is turning everything back on line and are expecting a new coal plant to come on line every week of 09. I have doubled up today on my position and glad I did.