New Century Financial Under Criminal Probe; Fremont Quits Subprime Market

How about CFC ? It's at 37 - hmm.. I might have to buy some puts on this dog. It has to go down..

Quote from ByLoSellHi:

NEW is at 14.65

Not too late to short.
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Quote from ByLoSellHi:

Damn. I didn't see that.

The news has already been priced in.

From $54 to $10 now, in 52 weeks.

Wow.
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It's amazing.

NFI from 40 to 7 in 52 weeks.

LEND from 60 to 21 in 52 weeks (and perhaps to 10 in a few more).

IMO, the next crashing sector: Chinese stocks trading on US exchanges. Could mirror the performance of REITs over the past year.
 
NY Times:

On Feb. 22, the company said the ... New York Stock Exchange contacted it about sales in the company’s securities before that announcement. On Wednesday, it received notice from the United States attorney’s office in Los Angeles that it was conducting a criminal investigation. Federal prosecutors are looking into trading in New Century securities and errors in how the company accounted for home loans....

It is unclear what stock sales investigators are looking at, but data ... [shows] that two of the company’s top executives sold sizable blocks of shares in the second half of last year....

Earlier last spring, the executives, both of whom are still on the board, said they would be moving out of their leadership positions.
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This one's definitely getting delisted. Even with the news priced in, this could still be a great 3-5 day short opportunity. Just depends on how bloody Monday morning (pre-market) will be for this stock.
 
Wish I could short new or nfi. But Ameritrade would'nt allow me to short these stocks or LEND for last couple of weeks.

CFC countrywide is more prime busness and a more of a solid reputation. I would'nt call that a dog stock.
 
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