3 years ago
Sunday, September 28, 2008
Bailout Looks Like a Go
Well, judging from what the talking heads on TV are saying it looks like the $700 BILLION bailout is a "go". I'm expecting this to have quite an impact on both the market in general and my current holding, FNM. I bought in with an average price of $1.93 (1,000 shares) so let's see this puppy go! I don't plan on holding this stock past Tuesday or Wednesday (at the latest) though because I think the market will shit the bed again later in the week. The bailout, even thought it is huge, is what I consider the equivalent of putting a band-aid on a shotgun wound, and I think that people will realize this once it becomes widely perceived that the huge amount of money that we spent isn't going to provide an immediate fix.
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