Posted by: pat August 10, 2009
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RefugeeNP,
I bought 2000 shares of FNM today at $0.90. I am glad I did. I wanted to buy FRE, but it was moving up too fast so I was not sure what was the right price to buy. FRE went up more than 125 % and still going up.
I recommended FRE to you because it is a really "safe stock" because it is government owned - for now. Most of the shares of FNM and FRE belongs to the government that is why these stocks were trading under a dollar and also the reason why these companies would never go bankrupt. They are "too big to fail".
FRE and FNM are like two sides of a coin. If one goes up, so does the other and vice-versa.
If you are long term trader, FRE and FNM are still good choices because once the housing market returns to normal (may take 1, 2 or even 5 years) and they pay off their debt, these stocks would trade for more than $20 per share.
Also watch out for C. Another safe bet for the long run. It went below $4 today. If it goes anywhere near $3.75 - $3.50, it is a "buy".
GLTA
I bought 2000 shares of FNM today at $0.90. I am glad I did. I wanted to buy FRE, but it was moving up too fast so I was not sure what was the right price to buy. FRE went up more than 125 % and still going up.
I recommended FRE to you because it is a really "safe stock" because it is government owned - for now. Most of the shares of FNM and FRE belongs to the government that is why these stocks were trading under a dollar and also the reason why these companies would never go bankrupt. They are "too big to fail".
FRE and FNM are like two sides of a coin. If one goes up, so does the other and vice-versa.
If you are long term trader, FRE and FNM are still good choices because once the housing market returns to normal (may take 1, 2 or even 5 years) and they pay off their debt, these stocks would trade for more than $20 per share.
Also watch out for C. Another safe bet for the long run. It went below $4 today. If it goes anywhere near $3.75 - $3.50, it is a "buy".
GLTA