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Politics : Welcome to Slider's Dugout
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To: SliderOnTheBlack who wrote (439)8/20/2005 11:55:17 PM
From: sandiegobear  Read Replies (1) of 50655
 
re: SubPrimes... most people are already familar with the recognized "names" in the SubPrime Sector like NEW, or LEND,or NFI (not looking too good here and certainly on DEATH WATCH @ 30% of the float Short.

NFI has been counted out several times in the past but it's always come back because of its banked cash, enough to pay the current (large) dividend for about two years. It's really a pretty conservatively run company, by sub-prime standards anyway. It's the only stock I trade and it makes large moves on a moderately predictable basis. The short position (more like 50% of the float really) is what drives it. The shorts let up for a wild overbought run then smack it down; happens every Q, at least in the two years I've been trading it. Of course, now the housing bubble talk is adding to the pressure so there may be a pattern shift but I don't think it'll stop being a moneymaker.
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