Top 4%
Wow, what a ride we are in for the next few months, until this stock stabilizes with a nice profit again. We are out of the woods, and though the day traders will still have their fun, this will turn a nice profit in the next six months to year.
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By all means, keep the ball rolling and post a new opinion.
Top 1%
guliamo
Jan 26 at 3:28 ET
I agree, therefore I own...
Got a question for you though.. do you thins other's in the financial sector are going to do the same?
take Citi for example (C) - took the same beating as etrade but pursistante roomers say it's not over yet - what your take on this SG? think Citi is a "buy" as well?
Top 4%
SmartGambler
Jan 28 at 4:03 ET
I don't know anything about Citi, and won't comment because I am biased against them due to what some of their analysts have done to ETFC. I did, however, buy Countrywide Financial (CFC), because it allows me to buy Bank of America (BAC) at a discount. I think BAC is a buy, and that CFC is the best way to buy it. I think that financials in general have been beat up by a back-alley gang sensing weakness. I have a feeling they will recover.
I don't know the timing of when exactly they will hit bottom, but in the 2 to 3 year outlook, I think these are very, very cheap prices. Profits will be very low to nonexistent for the next year, year and a half. But after that, There's no reason why they can't move up to where they once were.
Top 1%
guliamo
Jan 29 at 1:12 ET
I agree that some stuff is cheep.. but phasing out of financials for a moment.. what do you think of Garmin and AMD? both took a huge beating while business remains ok so far..
Top 4%
SmartGambler
Jan 29 at 4:37 ET
Those two I haven't covered at all recently. I know Garmin was my broker's top buy 2 years ago when I worked there, but I haven't followed it at all since.
Judging by the graphs, my research worked out pretty well for him! It looks like it's reattached itself to it's previous trendline. Its not exactly cheap, but it may be a slight bargain at these levels, if sales keep increasing like people expect them to.
I think I might go pick up a little bit of it right now. These are prime prices for a tiny bit of broad speculation.