So the stock market is up 1000 points this week.....

mystikdragon7 · #1 11-27-2008, 03:41 PM

So what does anyone else think of the recent days in the stock market? Is the bottom really here? Or is it one hell of a bear market really? I got to be honest though, I made one hell of a killing off of Fannie Mae (FNM) just the other day. I probably should have held onto it a bit longer but I'll just load up on some more shares here soon. I also made a nice mint off of Midway Games (MWY) earlier this week. Kinda feels good for once to make money off of the stock market than lose it all lol. I think I'm also going to load up on ERTS, MWY, and SIRI here very soon to. I think they are on track to explode here during the holidays and right after.

alan · #2 11-28-2008, 12:08 AM

Fannie Mae made an upside move :

?? holly molly....

mystikdragon7 · #3 11-28-2008, 12:26 AM

Ya it shot up like over %120 in two days!!

alan · #4 11-28-2008, 01:02 AM

Quote:

Originally Posted by mystikdragon7

Ya it shot up like over %120 in two days!!

Dang, that's impressive, but it still isn't anywhere near where it used to be before the whole financial meltdown. I believe there is some renewed market confidene coming back into play and a fresh appetite for risk (witness the rise of the Euro again). Oil and gold are also slowly going back up (gold faster).

Have we finally discovered the market's bottom? I wonder.

jefe · #5 11-28-2008, 06:09 AM

Quote:

Originally Posted by alan

Dang, that's impressive, but it still isn't anywhere near where it used to be before the whole financial meltdown. I believe there is some renewed market confidene coming back into play and a fresh appetite for risk (witness the rise of the Euro again). Oil and gold are also slowly going back up (gold faster).

Have we finally discovered the market's bottom? I wonder.

Lots opportunity right now, I'd like to see the bottom in the middle of 1Q09, can't see how 4Q earnings are gonna be positive anywhere... but the inauguration may slow things a bit... (mkt seems to favor Obama and hate Paulson)

mystikdragon7 · #6 11-28-2008, 05:43 PM

DANG Fannie is up almost 70% at $1.08!!!!! I'm definitely jumping in on Monday with Fannie and Sirius. I totally forgot that the market closed early today and was seconds away from getting an order in. But oh well, we'll see what next week brings us.

jefe · #7 11-28-2008, 07:11 PM

Yeah, I finally picked it up at 1.03 (I was informed to buy it a week ago but I hate buying stocks under a buck...gvt backing or not... I ride the CAL wave..still time to catch it--it tops out around 20-22-- short the he11 out of it then... UYG at 3.35 wasn't a bad pickup--SIRI's biggest customer is GM...good luck with that... RIMM has a gap around $80 it needs to fill typically follows aapl.. BGU isn't bad but close to its 44 so it may be too late depending upon how much... after shorting AIG at 15 last sept... I bought it back at 1.50...it's still a buy..probably going to 2.60-3.00 then bail, it'll hit 5 but not til march..lol(like I know anything)...

mystikdragon7 · #8 11-28-2008, 07:43 PM

So what do you think about GOOG? I picked up FNM at .51 and should have held onto it lol, got rid of it at .75. Think I am going to load up again on Monday and hold onto it for a few days or so.

jefe · #9 11-29-2008, 07:36 AM

Quote:

Originally Posted by mystikdragon7

So what do you think about GOOG? I picked up FNM at .51 and should have held onto it lol, got rid of it at .75. Think I am going to load up again on Monday and hold onto it for a few days or so.

My only worry w/ goog is they depend alot on advertising for revenue, and no doubt - revenue will be down.

A lot of resistance at 315 or so, kind of a small upside at 293. solars popped pretty good this week, I like LDK --traded it a few times

admin · #10 11-30-2008, 12:15 AM

I dunno, I would stay away from tech stocks at the moment. During depressions/heavy economic downturns typically the stocks that survive/do OK are the stable products stocks. I am also thinking stocks related to basic necessities such as energy, food, and clothing will always do ok even in rough economic times.

What do you guys think?

As for Google, it's P/E is pretty high at 17.69, so you gotta ask yourself, is this a value stock?