Ron <ron.clifford@peoplepc.com> wrote in
news:l1duf4p10ui3ie90mhkncd1ed3iurdogta@4ax.com:
> Be glad you dont hold Wachovia
> stock. At current and projected profit totals, Apple stock is very
> underpriced currently.
>
I'm a day trader and made a right tidy sum from Wachovia in the last 3
weeks when it crashed.
I started with no WB stock. It WAS my bank, until that fateful Monday,
Sept 20. They stopped trading to prevent it from going to zero. By
11:30, I had my cash in hand but left the account open in case I
couldn't get my SS direct deposit stopped in time. Opened a new account
at a local state bank that's in fine shape. They only loan money to
people who qualify, a whole new concept in banking.
At 2:30, they reopened the stock at $1.64 and it started to rise. I
couldn't stand it and dumped my trading account into WB at $1.84 and
held my breath. Tueday, the stock bounced over 70% putting a nice smile
on my face. Greedy bastard that I am I hung on, not sleeping again Tue
night. It went up nearly 20% more on Wed, 13% on Thursday.
Thursday night is when Wells Fargo said they wanted to buy the whole
company for $7/share. The stock opened near $7 Friday morning and
stayed there with this firm offer until Citigroup, who had tried to
steal WB for $1/share threatened to drag everyone into court. Upon
hearing that word, I dumped it at $6.94, a $27,717 pre-tax profit.
The next week it tanked with all the fighting going on and profit takers
like me gloating to friends who told me I was crazy, including the VP of
the new bank who had a chance and blew it. Then, on Oct 8th it crashed
again to $3.60 and I was watching closely. I bought back in and held on
as Citigroup decided not to fight the takeover, making the stock jump
back to over 6.30 when it evened out at the level point of the stock
swap deal from Wells Fargo, whos stock had tanked. Whatever level the
stock was worth is now tied to Wells Fargo's price X .1991 = WB's
tethered price. Wells Fargo recovered a little, but not worth losing
more sleepless nights so I dumped it for a final time making another 9K.
I felt sorry for anyone who hung on long, which I never do, in some
"brand loyalty" mode which always leads them into long term ruin these
days....
There was great money to be made in Wachovia, as in any other crashing
company, if you take the time to play it close with an internet-
connected trading account like Ameritrade or Scottrade or the like.
Trading costs $7-10 per trade if you do everything yourself with your
mouse clicker....(c; I once owned thousands of shares of Worldcom I
bought for 6c/share off the pink sheets and sold for 22c/share
prematurely as it didn't crash again until it was over 30c/share. Every
time a stock crashes hard, I always see this one little bounce caused by
just nothing but greedy bastards buying it so cheap they can't believe
it. Then, at some point a little later, reality sets in that, yes, the
CEO did make off with the money and is going to get away with it, when
it finally dies for good. I love to play with that little bounce.
There's a great way to watch successful day traders make a lot of money
you can watch or listen to for free at:
http://www.daytradingradio.com/
This guy never leaves his house and has turned his daytrading addiction
into a very nice business. He has a radio stream on Shoutcast every
trading day he's not on vacation or on-the-road. You can click on it on
the webpage. I listen to him, even on the road on Alltel EVDO, with my
Nokia N800 tablet a lot. If you simply follow him, you WILL make a nice
return on your money. He's very successful, even in this market. If
you subscribe and take his nighttime courses, you'll find all kinds of
very useful ways to turn someone else's misery into whatever toys you've
been wanting.
The only thing that pisses me off is I didn't just stop working my ass
off years ago and sit daytrading. I'd be far better off, except for the
trips to the sanitorium and intensive care after the heart attacks....
(c;
Daytrading is WAY more fun than anything in Atlantic City or Vegas.
With daytrading you can ACTUALLY WIN!
Apple's profit up 26 percent on iPhone boom
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