2008-09-28

Trading Blogs and my two new friends, Fannie and Freddy

With the meltdown of the US market, here are some trading blogs that I follow.

I did not lose any money, in fact I made more than I ever did last week, not by shorting stocks because it has been stopped but by buying Fannie Mac [FNM] and Freddie May [FRE] while they where rising during a short squeeze. Extremely risky and stupid but it paid off.

FRE

FNM

On Tuesday, 23 September I bought FRE @ 0.97 and FNM @ 0.96, and I sold both the next day with FRE @ 1.92 and FNM @ 1.84.

Close to a 100% return, Kaching!

6 comments:

  1. lucky you. I bought at 4.40, 6.28 and 7.08. Should have sold at 7.9 but who knew they would bailout FNM while on the way up! Now I need to just sit and wait. I wanted to buy at .50 but didn't think it would hit 2.5 so quickly! That would have been easy money.

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  2. shouldnt they be fannie mae and freddie mac?

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  3. Thanks for sharing the info!

    Good Luck :)

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  4. Well done, DV! We figure we stand to do well just by holding tight to what we've invested so far - it took a small loss, but we are in the for the long term, and figure this down time will be to our benefit soon, insh'allah.

    Eid Mubarak!

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  5. mark: it was 99% luck and 1% timing. Now I will not get near the market, it is too wild to touch. I will wait until there is a definite trend.

    crackbery: you are right, thanks for the correction.

    palomino: you are welcome.

    Intlxpatr: THe US market always gets back on its feet eventually, you just need to make the right choices.

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