Missed the Wave
As the world knows, America's economy is in the turd basket. The U.S. dollar is at it's lowest level, banks and mortgage companies are filing for bankruptcy protection and homeowners are foreclosing like crazy. It's such a crisis, the federal government in pumping over $700 BILLION (possibly $1 TRILLION) into the economy to try and give it a jump start towards stabilization. Why am I mentioning this?
Giving money to banks will only make the banks richer and how can you lose with that? So, I opened an E*Trade account with intent to buy some failing bank shares, knowing the government will help them out to stay afloat and keep business going, whereby causing the price to rise. Friday, September 19th, one of the Freddie Mac stocks opened at $0.20 and closed at $1.49. If I had $1,000, I could have bought 5,000 shares. At the end of closing, I would have had $7,450 worth of shares, up 7449%.
On the same day, Washington Mutual "WaMu" (WM) opened at about $2, and closed above $4, a 200% profit. Finally, the same day, American International Group (AIG), which was selling around $65 three years ago, opened around $2 and closed at just over $3. Currently, at 11:00 am today, Sept. 22nd, 2008, it's sitting at $5.02. Why am I mentioning this? Because since I opened my E*Trade account, I'm forced to wait 7 days before I can start buying shares. In 7 days, these stocks are going to be back up about half their normal levels and I will have missed the wave.
Fail.
Giving money to banks will only make the banks richer and how can you lose with that? So, I opened an E*Trade account with intent to buy some failing bank shares, knowing the government will help them out to stay afloat and keep business going, whereby causing the price to rise. Friday, September 19th, one of the Freddie Mac stocks opened at $0.20 and closed at $1.49. If I had $1,000, I could have bought 5,000 shares. At the end of closing, I would have had $7,450 worth of shares, up 7449%.
On the same day, Washington Mutual "WaMu" (WM) opened at about $2, and closed above $4, a 200% profit. Finally, the same day, American International Group (AIG), which was selling around $65 three years ago, opened around $2 and closed at just over $3. Currently, at 11:00 am today, Sept. 22nd, 2008, it's sitting at $5.02. Why am I mentioning this? Because since I opened my E*Trade account, I'm forced to wait 7 days before I can start buying shares. In 7 days, these stocks are going to be back up about half their normal levels and I will have missed the wave.
Fail.
Labels: failures, Government, income, information, money, money maker, stocks
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