Thursday, February 08, 2007
Dear Cobbens, NFI,NEW
Dear Readers,Dear Cobbense, Just a reminder of our discussions about NFI. Well As I suggested this thing will be below 19 soon ( this was around early January). We are there. Are these stocks a buy, perhaps soon. 14.56 is a real possibility on NFI and NEW could be nibbled under 20( Teenager again)(: :). In any case if any of you are interested in positioning into these communicate with me about status then. Good Trading
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2 comments:
Boris,
Thanks for remembering.
I would not touch NEW (or any other subprime lenders I know of except NFI) from the long side for funnymental reasons, perhaps short any strong bounce, but there may not be one . . .
However, I'm working into a straddle on NFI (note that long dated calls are not more expensive than near dated ones), looking to remain long if things work out, but not loose (much, at any rate) if the bottom falls out of the US economy. Yes, that could happen, but is not my preferred scenario for now.
NFI "should" have held above 20 for the best long scenario, now that it is well below 20 the TA scene is less clear.
Funnymentally, it just completed a CDO with no problem, backed by Deutsche Bank & Wachovia, which are two of my preferred analyst co.'s and are also major NFI stockholders.
We shall see, though not necessarilly any time soon I'm afraid.
Regards,
Dear Cobbense, I am sure you do research on these, we appreciate you keeping us updated. We just follow our technical signals, but your information gives us a funnymental backing to our decisions. GOod Trading
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