Oh my. Again.
Today Accredited (more like Discredited) Lenders (LEND) is down another 70 percent. The dips are a black hole. Tom Brown is changing the name of his fund to S.O.S. Capital.
That said, it is a typical Wall Street joke at this point and chaos has taken over.
I am severley tempted engorge myself on Fremont (FMT), but I am a wimp. That said, I am dipping my toes and fully expect to get screwed as should you. I am taking some money and staking a small claim in this pig.
When this unwinds it would be nice to see how the banks screwed EVERYBODY to try and recoup what they could of the big fraud thet have perpetuated once again.
Investing is not a joke and those 100 share dip buyers and value players have been distributed another pile of crap from big brothers Merrill, Morgan and Goldman. Those that trend follow and use discipline have watched this debacle unfold from the sidelines after making a pile on the way up.
Disclosure – Long FMT
PS – Look at this crap from New Century’s Website
UPDATE – I suck at posting pictures and sizing them – Trader Mike does a way better job of nailing the pricks . Thanks Eric for the original find of this.