Go long on Wamu & Etrade stock?

Question

My portfolio consists of 2 big Financial losers - Wamu & Etrade. I bought them both in May: Wamu: bought @ 10.40 & ETrade bought @ 3.90, I've lost 66% in Wamu & 33% in Etrade. Obviously I should have sold both stocks a long time ago, but what now? Should I sell on any bounce, or go long like I had planned originally.

Thank you

Answer 1

Probably be a better strategy to say so long rather than to go long to these two stocks.

Answer 2

WM won't be bouncing anytime soon.  If the rumor mill comes after it, they could fail.  I would sell for whatever I could get for it this morning.

Etrade is trading like any other financial company right now.

Answer 3

I would stay with your original idea and stay long.Loses are not loses until you sell.Patience.

Answer 4

I'd sell on any bounce thats should be coming any day now.

Market should peak around 11800ish and should sell and cut your losses.