michaelscott is correct, Mozillo knows exactly what he is doing...thats why he has been dumping his shares like a madman for 6 months.
No you're not long. Not short a............collapsing stock either. Now what wood...............oops, I mean would that make you? Collapsing? I've got (14) positions presently and a fair amount of dry powder. . Your definition of collapsing and mine..........differ. Down 3.6% today. Whoa. Hey, 300 posts. I'm catching up with ya! You're my role model.
CFC is struggling to hold support at the 25 level. When earnings come out that will be broken easily. The bottom for this stock is months away.
I closed my short position today. Dow testing support at 13K and CFC at 25 I will wait till something breaks further on CFC's earnings here to the down side for a short position reentry and the dow takes out 13. Looks like a very nice place to take profits to me. I pocket just under 15K $. 41>24 I was contemplating whether I should close half my position and reduce by 500 shares but I closed it all out and wait for a reentry point I am comfortable with. good Luck.
well done...even if it slips a bit further (breaking 25 into the low 20s), it may be still a little while before the "tanking" measures come in...or at least push it down enough to be hardly worth going either way on it.
Just when I thought I was out they pull me back in....Anthony Corleone. I'm back in to this pig at 23 and change, Intraday basis for now... You just can't ignore the good news coming out of Merrill about CFC.
Ah, "you arrogant prick". Thousands of years from now, scholars will uncover the ET database. I can see two Archeologists peering over the date. Um, Sahib. It seems "you arrogant prick" is a greeting shared between close friends.........." Listen closely, and you can hear the class action attorneys shuffling papers. What a fucking disaster. Oh well. i didn't do it. Any of you guys responsible? Who lent money out at 60 to 1? If Wall St. was in China, there'd be exectutions every hour, on the hour, for the rest of the decade.