NuclearChicken's  Instablog

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39 years old, been day trading for 7 years
  • Want to lose your cash, then invest in ABK 1 comment
    Apr 14, 2010 7:35 AM | about stocks: AMBC

    My fellow investors, use your good sense and intuition here

    ABK is no longer a worthy investment for anyone, including day traders. I don't care if it has perceived equity in it or not, its too risky. I've been day trading for years and have never seen any stock go from being up 51% at midday and be down 28% by market close.

    The analysts like JP Morgan and Cramer are arguing about the perceived value of the stock. Well, its as simple as this. When a company goes on record stating they're insolvent and may need to file for bankruptcy, its time to clear out. JP Morgan is right about this one, the stock is worthless. Day traders like myself, fueled this toliet bowl all the way to $3.39 and dumped millions of shares.

    I made $4820.00 and am still laughing how people continue to buy a stock that virtually has no value. You may as well just give your money away. To my fellow day traders, I would suggest even backing away from selling short on this one. Rumors are floating all over the place about a potential takeover. Well, they've most likely been put out there to inflate the stock price. 

    If you've made money on this like I did, enjoy it and move on. There are plenty of other stocks around to ride the wave and get out without the risk of taking on heavy losses.

    Prediction for Wednesday, April 14th - ABK loses anywhere from 14-23% more of its value, if not more.  

    Disclosure: ABK

    Stocks: AMBC
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  • ontherun
    , contributor
    Comments (2) | Send Message
    making more NOW with ABK than a mere 4K
    20 Apr 2010, 10:40 PM Reply Like
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