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Originally Posted by Peter_Spaeth
Amazing. You happened to buy C at exactly its 52 week (and probably all time) low, to the penny. With that kind of start, what will you do for an encore?
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Hehehe - thanks Pete - I also purchased Ambac at $0.81 cents a share - it's picked up to $1.44 right now.
My next purchase will be Fannie Mae/Freddie Mac (all three companies are too large to fail - it's a risk, but definitely a calculated risk that I know was going to pay off). I went to the NYSE website and looked at ALL 100+ pages of stock listings and went after the banking businesses (what goes up, must go down, and vice versa). I then looked at the 52 week high and low.
Fannie Mae at the bottom end is about $0.76 cents a share, high is about $0.88 cents - but look at the 52 week high; no way in hell that's going to stay there. Even if it goes up to only $5.00 a share...and my buy price is around $0.80...and I purchase 1000 shares....that's $4,200.00 pure profit.
PS - I'm also looking at Colonial Banc Group. I WAS going to buy ALY at under a dollar, but didn't pull the trigger - now look where it's at...I was not happy about that one hehehe