And on the subprime front, even though NEW has muscled its way into the lead in the penny-stock status sweepstakes, I still have a lot of faith in NFI's ability to get there first. Mustn't forget to mention FMT which is outperforming on the downside today as well.
Win, place and show -- everybody loves a race!
Two more followers competing for bronze medal - AHM and LEND.
NDE went down just 8% today. I am very upset for not seeing the above two early enough
LEND was actually really spectacular today: down > 25%. And AHM is definitely a contender -- Gretchen Morgenson singled it out in her piece in the NY Times on Sunday for its swollen inventory of "dead fish" loans.
I wonder if I could get xD to comment on this theory: since FIG cannot be shorted, might the downdraft in its shares reflect a growing consensus among hedgehog insiders that one or more blow-ups are in the works? Is there any way we could go though a sell-off like the current one without having some "events" among hedgies?
TIA
Remember a few weeks ago, I asked for information to get a list of IPOs offered in 2006.
My thought was, this coming bear market would likely trash most of them, as good as what we saw in 2000.
There is a pump and dump pattern of IPOs overall. Underwriters usually pump the stock till the end of the lock up then unloads their stakes if they see no future.
This especially occurs in troubled sectors and bear markets. In bull market, they tend to be more mercyful.
This is one of the reasons Nasdaq A/D line goes always down as no good IPOs usually are listed on Nasdaq.
So in my opinion, FIG is a potential - soon - to - be - trashed IPO. Note that first lock up expired on 2/8/07