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IndyMac Bank oversold

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Claude From NY

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Bought a few today. The current PPS of IMB is badly oversold in my opinion. At under $6 it might be something worth looking into as a longer term investment. Not looking to tout the stock but the upside potential at this point is much greater than the downside.
 

Greg Bell

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Bought a few today. The current PPS of IMB is badly oversold in my opinion. At under $6 it might be something worth looking into as a longer term investment. Not looking to tout the stock but the upside potential at this point is much greater than the downside.
Good chance it's a Penny stock in about six months.Collateral assets are
declining at faster than expected pace...
 

Non Sequitur

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Bought a few today. The current PPS of IMB is badly oversold in my opinion. At under $6 it might be something worth looking into as a longer term investment. Not looking to tout the stock but the upside potential at this point is much greater than the downside.
I thought the same about CFC/Countrywide a few months ago. Now I'm sitting on a major arse whipping. The problem with financial stocks, IMO, is that they are a bunch of lying b*astards (just as bad as the MB's they bought all of the bad paper from). You can't believe the balance sheets or the anything else they put out. Friggin CW, behind everyone's back, borrowed $50+Billion from the FHLB and was borrowing more until Senator Dodd(?) called B.S. Through all of this rambling my point is these guys/companies are in serious trouble and there is no upside for years. They'll say anything to stay in business and investors hate the uncertainty and lies. The trust the world had in the U.S. financial system may be gone forever.
 

moh malekpour

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has anyone bought IMB a year ago and kept it? This stock was $46.50 per share on 12/29/2006. Tody, it was closed at $5.95 per share. It is like you had a buyer for your home a year ago willing to pay you $465,000 cash but you didn't sell it and tody, the same buyer is offering you $59,500 for your home.
 

David Wimpelberg

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Bank stocks make me nervous. I don't think they're at the bottom yet.
 

Karl

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WHY?? would any Appraiser have ANY Bank or Home Builders stocks past June 2006??
 

Randolph Kinney

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Zaio closed at $1.57 today, down $0.31.

The low was just a few weeks ago at $1.01 where Zaio did a private placement of $15 million worth of stock with warrants that closed today. The stock was going up, until today.

You might have a better shot of scoring a big gain investing $6,000 into Zaio shares (not zones) than IndyMac shares.
 

hastalavista

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$6 is pretty cheap!

There's a take-over upside.

Like David W., all bank stocks make me nervous now. They are like icebergs. I don't like what I can see and I have a bad feeling about what I cannot see.

I moved to cash in August. I'm satisfied with sitting on the mattress for now.:)
 

murray stroupe

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Re; IMB

has anyone bought IMB a year ago and kept it? This stock was $46.50 per share on 12/29/2006. Tody, it was closed at $5.95 per share. It is like you had a buyer for your home a year ago willing to pay you $465,000 cash but you didn't sell it and tody, the same buyer is offering you $59,500 for your home.
=======================
See your point Moh,and if you were in it for the long term;
you could have bought IMB in the OCT 1998 crash for $5.95.

So if you don't count time value of money, exspenses, comissions ....;
you could have''broken even'' today for almost 10 years of holding IMB.

As far as ''oversold'', CFC, ETFC, NFI , all 3 related mortgage /bank stocks were oversold at $33 level;
all 3 are now closer to $3 than $33.

It is a Fed insured Savings bank however,plus i think Brad works with them ;
eventually short covering may possibly fuel a rally.Not a stick tip.
 

David Wimpelberg

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I moved to cash in August. I'm satisfied with sitting on the mattress for now.:)

Best move I made was moving a significant part of the portfolio into overseas stocks a few years ago...got to watch the stock value go up while the dollar went down.
 
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