It’s a sweet day to be long Subprime. I am .
Fremont gets a big swatch of money and is now $9 pre market.
I suspected New Century (NEW) would be the sacrifice and it is looking more like this now.
I am not interested in seeing who all got sold out and/or panicked off the bottom in all these stocks. Accredited Lenders (LEND) was at $3 a few days ago and is back to $12. As, I suspected, careers were made and busted in the last few weeks in these stocks. Goldman and Merrill just brokered them (weasels).
Disclosure – Long Fremont