Markets seems to be pointing to a down open this morning and whenever this happen, i go back to one of my favorite 1 or 2 days play that most of the time gives back some very nice return in the range of 4-8%.
FBP was trading near 5$ when the US government started to unload theirs shares from TARP (they had about 100M of them) at market price lowering the share price to under 4$.
The trading range normally is between 3,60 and 3,90$ but this morning it could be going down a lot more.
I will keep an eye on it and i will be in whenever it crosses the 3,45$ or lower and i will be VERY PATIENT as it can drop suddently and rapidly but even at 3,45$ this is a good one to accumulate.
As usual (and more actually) DO NOT INVEST MORE THAN YOU CAN AFFORD TO LOSE and always do your own due diligence before investing in any stock. CHEAP SHARE PRICE does not necessary mean a real bargain. Play with extreme caution.
Get THE PLAY OF THE DAY on Twitter : @investman2
FBP was trading near 5$ when the US government started to unload theirs shares from TARP (they had about 100M of them) at market price lowering the share price to under 4$.
The trading range normally is between 3,60 and 3,90$ but this morning it could be going down a lot more.
I will keep an eye on it and i will be in whenever it crosses the 3,45$ or lower and i will be VERY PATIENT as it can drop suddently and rapidly but even at 3,45$ this is a good one to accumulate.
As usual (and more actually) DO NOT INVEST MORE THAN YOU CAN AFFORD TO LOSE and always do your own due diligence before investing in any stock. CHEAP SHARE PRICE does not necessary mean a real bargain. Play with extreme caution.
Get THE PLAY OF THE DAY on Twitter : @investman2
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