when etrade went from 15 to 3.50, i made a decent amount. i also lost a decent amount from wrong timing.
cfc has been good to me.
freddie mac has been good, but when it hit 45, i didn’t think it would slide any more. did it ever and i missed out.
i’ve lost plenty from various bets ranging from wells fargo to intel. can’t remember all the losers and dont want to.
i’m still playing cfc and etrade. citi, bofa, meritage, hov, dr horton, lennar have been added to the play list. it looks like a good time to get in on jan+ puts. the run up of the past week has seen movement of some 20% in these stocks. based purely on rate cut speculation. meanwhile, the news has been all bad. i’m betting (literally) that there’s plenty of action left.
over the past 4-5 months, the market has gone roller coaster, but these housing and financial stocks are on a death march downwards, never reaching their prior highs. this is like the 3rd run up… is it the last? are people sick of hearing “it’s the bottom for financials and home builders!” yet and ready to just cut altogether? the news is out about goldman shorting the market, are the other funds going to join in?
most interesting are the straddles, stocks like gm and citi have massive straddles. someone is making a killing on both the run up and the subsequent slide…
