I was watching this baby from day 1, missed the bottom a few times, at $3 .. but it went lower to $2.75, so I canceled. Then back to $3 .. then $4.. then rocketed to $5.
I thought this must be it - accounting rule change, uptick rule, must be time to get into FAS. Can't wait until it goes to $6 so I bought at $4.92.
I bought FAS 4.92 x 50,000 shares last Friday, all my savings will double on Monday. Wish me luck and hope everyone here makes money!!!
If you bought it for that , you might seriously consider taking your profits. Bulls and bears make money while hogs get slaughtered . The Feds are cooking the books and trying to keep a lid on things for now . Once news starts to leak out , the banks are going to be in trouble .
SELL half when you are up by 90% on your money and let the remaining ride until the DOW retraces to 9000. 9000 on the Dow is a given here during the bear market rally and I know many traders that believe 10,000 is coming in the next 30 to 60 days. 10,000 is just the .382% fibonnaci retracement point of the entire down move on the DOW since late 07. It's statistically likly. Get you're 90% of your life savings out of this thing at 9.00 on Monday or Tuesday but let the rest ride to around 9000 on the dow. 9000 is a conservative # I'm using still and financials should lead the market there over the next 30 to 60 days.
Don't worry, you did make a good decision to go long some distance with FAS. It will hit $6 either today or within a week or two at most because daily volume is so STRONG. The price you got @ $4.92 is still a good deal. I got in this morning $5.53 and wish I had got in @ $4.92. GO FAS!!!
sell it Monday if its still above 4.92. its been up for reasons that has nothing to do with any facts or evidence that we are out of the woods. based on options pricing its very possible that it will stay around the same price or go lower at the expiration day(this Friday). its never a good idea to risk all in one trade but if you r so desperate that you must do it at least wait when it goes down to 2.50, you will have a better chance of making money. do not chase the stock especially in this market. good luck.