Quote:
Originally Posted by Beau
Wes, how did you lose money on the short, did you think it was going to keep dropping?
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After it bounced up to $12, I thought there might be a correction the next day. But oil prices kept falling, so there was no correction. I covered the short before it got too out of hand. I'm thinking about trying again right before GM releases Q2 results.
However, I'm not overly worried about the bucks I lost. On July 11th, when Fannie and Freddie TANKED, I was feeling squirrelly, did some quick sells of existing positions, and dumped 3/4ths of my high-risk portfolio into them... FNM at 6.70, and FRE at 3.90.