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EPS100Momentum (71.69)

WB may be nearing the end of its rally for now

Recs

3

July 24, 2008 – Comments (1) | RELATED TICKERS: WB , FNMA , FMCC

because it went up too fast and furious the last
7 days. When I said buy 1/8 position for 8 straight days
I was assuming WB would fall for 2 or 3 days after earnings,
which has not been the case. It has gained over 50% from the low
point on earnings day. The same can be said for most of the other
financials. So my advice now is tread carefully in these stocks.

1 Comments – Post Your Own

#1) On July 24, 2008 at 10:01 AM, colonelnelson (79.79) wrote:

I'm glad to see I wasn't alone in thinking that it was strange for the stock to go soaring after reporting a $8.68 Billion 2Q loss, and cutting its dividend from 37.5 cents to .05 per share.

But what do I know?  Stupid me, I thought this was negative news.  I really must learn to be a more sophisticated investor. 

Bad news = price gain; good news = decline.  Got it.

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