A friend of mine, who is a CPA and frequent trader, was raving about Luminent Mortgage Capital Inc. He is heavy on calls. He said based on current market conditions, the upside potential to this stock is very great. The main premise for this claim was the expected bailout of subprime and ARM mortgages. Upon looking at it briefly, I am not convinced enough to start purchasing calls. I’m preparing for level 1 in June, so bear with my question here. Can anyone offer insight.
I’ve looked at LUM. There’s certainly potential, but playing with options on these stocks is pure speculation. Given what happend to RAS (TruPS issued to AHM? Didn’t see that in the K…), I’d just steer clear.
40% + return in the past 5 days. I wouldn’t mind betting couple grand that it will go up to $3 in the next few days.
Might as well bet on black.
You are better off paying down your car loan or credit card debt before you go buying LUM options. Trust me, you’ll be glad you did.
Put my $$$ where my mouth is. Making money on this so fast. Will sell when things turn south. But so far, the momentum is unbeatable. Sorry for those shorts who lost their pants betting the company will forgo divy like NFI. Someone say short squeeze?
LUM might go to 10, but if you buy it and it does that doesn’t make you a brilliant trader, it makes you lucky. Just like if you bet on black 4 times in a row and win - it doesn’t make you a brilliant roulette player.
I’ll rather be on Luck’s side, especially in trading because you are only as good as your last trade.
how’s it looking now?
$1.60? Suh-weet! phBOOM, I hope you didn’t get a cash advance on your credit card for this one…
phBOOM Wrote: ------------------------------------------------------- > I’ll rather be on Luck’s side, especially in > trading because you are only as good as your last > trade. Doh!
people like phBOOM are needed in the market !!! Just like all of the people that bought into CROX at the top!!
Glad I put the money in my Vangaurd fund rather than LUM. Fund is down since I bought it, but not by that much.