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.
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!
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.
ReplyDeleteshouldnt they be fannie mae and freddie mac?
ReplyDeleteThanks for sharing the info!
ReplyDeleteGood Luck :)
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.
ReplyDeleteEid Mubarak!
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.
ReplyDeletecrackbery: 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.
The site is good.You can give more information about the trading blogs.
ReplyDeleteMyInvestorsPlace - trading, value, investing, forex, stock, market, technical, analysis, systems