Say GoodBye to Countrywide

I think the tanman will be made an example of... BOA is not going to invest more dough into them. I doubt the Arabs will do it either.
 
Great drop. I came VERY close to buying at 7.99. It hit 7.80 and bounced fast to 8.10.


If it tests, 7.80 or lower, I will go in for a quick scalp again. Hope it crumbles into the close.
 
Keep Shorting the Housing stocks and mortgage companies. Throw financial s in there.

I LOVE IT!

Making me FAT mooolah!

I have been short housing and mortgage co's , financials and I will remain short.

Markets are headed DOWN DOWN DOWN.
Recession is coming into play.
Bulls have said there would be no recession.
There will be.
We need to wash them out and get their capitulation.

Stay Short.
 
11:56 CFC Countrywide loses most since 1987 amid bankruptcy speculation- Bloomberg (6.45 -1.19) -Update-

Bloomberg is reporting CFC dropped the most since Oct 1987 on the NYSE amid speculation the largest U.S mortgage lender will file for bankruptcy. "The rumor was they would file for Chapter 11 this week, " said Michael Mainwald, head of equity trading at Lek Securities in New York. "That spooked all the financials." Countrywide spokesman Rick Simon didn't immediately return a call for comment.
 
I have been following the CFC drop for awhile now and had noticed the stock had dropped to around 8 dollars a share only to rebound but yesterday it closed below 8 for the first time, looks like it has a new bottom and today is looking bad for these guys
 
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