Added more ETFC

[Goods]

ETFC earnings calling a bottom, saying they expect to be profitable again this year.
Have some at $3.03, added more @ $3.87. I think all the bad news is in and done. Time for the shorts to take their billions and go. I'm looking for 5's soon.

Keep an eye on IMB also. Big shot in the arm toward the close. The rate cut could create a refi boom. Bought in @ 5.95. Hit 8 before coming down but I'm holding for now. Looking for a push within the next few days if not tomorrow.

Stops at buy price.

[legion3pm]

GOODS you think the selloff is over or you think last couple of days is just a bounce and the market will resume its downward trend in a couple days?

[Goods]

I'm thinking bullish short term but I'm in a good mood thanks to ETFC's earnings announcement. And Dubya's paying for my new laptop
Who knows? Traders are controlling the market right now. Best to just let it tell you where it's going and jump on for the ride.
I'm watching ETFC, IMB, ABK, COIN and AAPL right now. Kicking myself that I hopped off MBI and ABK early, then watched them double. Hoping for IMB to follow suit.

[Goods]

IMB shot up late and I took profits @ $7. If we get a decent rate cut, it'll likely shoot much higher but I prefer to lock in gains now.

Still holding ETFC which finally showed signs of breaking upward yesterday. Time will tell.

Picked up MCD on the earnings dip yesterday morning @ 49.80. I think the sell off was overblown and it picked up the rest of the day on market strength. Stop set at entry point.

[Jimmy D Greek]

I've been buying a little of everyone's plays including some etfc. Why do you think IMB will shoot up on a rate cut? Doesnt everybody know that there will be a rate cut already. Shouldnt that then be priced in? Fill me in. Thank you! Go E Trade!

[Goods]

IMB was up big today. They came out with news the Thursday saying they've already locked in a ton of people for refinancing after the 3/4 point cut. Which was the Thursday end of the day spike to 8. It says they're more likely to start making money again than have to fold.
It's dropped from 40 last year to 4, there's plenty of room for a bounce. With the expected rate cut, I'm expecting a refi boom. People can't sell their houses so may as well ease the burden. IMB and the like profit nicely. Doesn't hurt to have a few bullish days in a row either. Fed decides Wed. about rate cut. Anything less than 1/2 point will likely tank the market imo. There are plenty of people waiting on the sidelines to see what they say before they buy financials. At this point, I wouldn't buy until the decision's made and only then on a dip because the pros get the news first. Chasing will kill ya.

ETFC finally broke 4 today and closed strong. I expect their turnaround to be slow and methodical. There's always the chance of buyout rumor spike too. The CEO's comments were good enough for me to think it's not bad enough to go Chapter 11. I think there's something like 80 million shares shorted and I'm waiting for them to give up and let it go. That's when it'll explode. Same goes with the other stragglers still shorting financials. In the meantime, having bought low presents little risk. I'm up around 20% so there's wiggle room to set stops.

Please be careful about buying what's posted by me or anyone though. No one knows for sure what'll happen. Always research if it's right for you. Just my two cents.

On that note, I still like COIN for a long term hold. It's been weak the last couple days though. So I'm waiting for dip to pick some up.

[Jimmy D Greek]

I just sold my ETFC. I decided to take profits on that and most of my NEM calls. I also sold my BU.v, but broke even on that one. I should have bought ETFC calls as well. I made a killing on NEM. So what's next?

[Goods]

Nice work on NEM Jimmy.
ETFC up nicely but not as much as I wanted. Setting tight stops and holding on until the momentum dies off. Short squeeze still hopeful.

IMB got ugly today, mostly on profit taking imo. No surprise in the rate cut to propel it. Keeping it on the watch list for now.
Someone's rating took a hit down to AA but it slips my mind right now. Took a chunk out of MBI and ABK late. ABK gets downgraded, it's gonna get nasty.

Looks like AMZN expectations were too high for even their good quarter. Getting smacked around AH today. Under 69 might sink it.

[Goods]

ETFC hit 5 today and stuck. Took 1/2 position off with 45% gains

Holding other half to see what happens. Been killer so far.

Looking for some profit taking Friday, been a good week. Grabbed 2 small shorts at the close.
-Shorted POT @ 141.72 after a huge run from 129.50 today.
-After hours, shorted BIDU on the bounce @ 265.00 after GOOG got hammered reporting a great quarter but slightly missing expectations. Brutal market. May pull an AMZN and rebound right back up after people actually read the damn thing. Position is very small just for that reason. Tight stop.

[Goods]

Trail stopped out of ETFC @ $5.17. Over 50% gains. Great run, 8 or 9 straight up days. Profit takers pulled it back today. Still strong on the radar.

Holding the POT short for now. Sitting just about even. See where it goes Monday.

Stopped out of the BIDU short with a small loss. Got ugly as it hit 300 pre-premarket on that MSFT news but luckily floated back down. Stock moves like a racehorse. Glad I went small on it.

Great week. Enjoy the Superbowl everyone. Go PATRIOTS!

[Goods]

Damn Giants.

Bought back into ETFC the other day @ 4.66. Been very nice regardless of the wild market, closing at another high today around 5.20. Holding with a stop at the buy point.

I'm thinking the bottom is in and this looks good long term, short of bad news or a flat out market collapse. I'll likely add more in the coming week if the charts hold up. Love to get a buyout rumor one of these days.
Hoping for another rate cut in the next few weeks also.

[Jimmy D Greek]

Goods, that's just bad business my friend. On all the other stock blogs I look at they seriously frown upon telling everyone about a stock that you bought a few days ago that's now up 10%. You have to share that cake with all of us.

Now that the ethics disclosure is out of the way, how more room do we have on this one? Still a good buy if at these levels come Monday morning? Do you have a target price? Good luck, enjoy the weekend!

[Goods]

lol Jimmy -- I did slack on the rebuy post, sorry 'bout that my friend

I'm thinking EFTC has potential to close the gap to $8 longer term. Especially if it gets through $6.
Short term it needs to break 5.48 resistance. I'll likely grab some more on a dip. Friday was strong and closed at the high. Wouldn't surprise me if Monday's strong again. Guess we'll see.

[Jimmy D Greek]

I haven't pulled the trigger yet. I'm trying to watch it closely though. I'll will let you know when I get in.

[Goods]

Ended up picking more up Monday and the drop ate my gains. They sold a unit of the company. Why that drove it down, I have no idea. Wasn't new news. I'm holding with an average cost of $5.08. Could see a dip back down into the 4's again before it gets healthy. Still like it long term as long as they stay on course.
Setting a temporary stop at $4.20 until I get a better feel.