So is this the bottom? I may have been a bit premature. what say you efficency? some odd-lot retail shorts likely covered this afternoon.
I already said. Distribution of paper accumulated recently. Squeeze is a by-product. Insititutional volume. All 579 million shares is marked to market, but only 30 million a day "float". $20 is a nice big round number. A magnet. Oscillation. Until it's clearly through, it's not going anywhere. Ax will move with an alibi. News item. On the other hand, not much of a short. On occasion. Two day. High day 1 to low day 2, maybe hold overnight and cover on a gap down day 3. The dreams of oblivion and cancelled stock are just that. Too much order flow to abandon. Techncially, one could interpet a mild double bottom. 52 wk low at $15ish and a higher swing bottom the other day. Not a peep out of the munchkins all day. They'll be back. I miss them. Like a...........like a sandbox, with nobody to play with.
Hey effy congratulations!!! Instead of being down 60+% you are only down 58% Looks like a buy on the rumor sell on the news traders rally to me. How that works is this...when there is no rumor to have a bullish up trend over a period of time,,,,surprise positive news comes out and sparks a rally. Add to that a nice positive bullish day for the dow and markets and you get a nice rally for a beaten down stock in a beaten down industry. Had the news come on a 133 Dow down day I doubt there would have been much upside. Combine the two factors and you get a nice pop. Whether it is a traders and eventual suckers rally we shall see, it is certainly a traders rally. Short term/day trading never fight the tape and look to ride out this rally till it peters out and reverses when the next negative story hits the news wire. Effy talking about a Bottom? Good luck with that. Remember stocks never go straight up or straight down. The short term trend is up the long term trend is still down and that has not been broken by a one day rally. I don't see the mortgage industry and co's in this industry having any decent earnings coming in the next 6-12 months. I don't see real estate sales turning around and without that happening I don't see mortgage lenders doing well. In fact I think the coming months will see the Worst period in decades for mortgage lenders. You don't need a crystal ball to see that coming. Never try and pick bottoms wait for signs the industry co is turning around. A co having to borrow billions to stay a float was interpreted as a positive by traders willing to jump in and go for some $$$ short term. Is having to borrow billions to keep the co alive afloat really a good thing? No. I continue to see this stock either wallowing right around here (17-22) for months and when the declining earnings rumours begin the stock will slide further(17-?). The way I have made alot of money in the last 26 years has been to invest in turnaround plays such as CFC(which it is not yet). I have learned not to be too eager and early on turn around plays. You don't want dead money or further downside risk. You wait patiently for the sector and industry and co to show signs of improvement. Todays news wasn't it. You can see some inexperienced investors wanting to jump into CFC and try and pick the bottom thinking this is it. Odds are they will get hurt by either dead money or the stock going up slightly and wallowing or making new lows. (((You can ride this rally to its conclusion/reversal if you're are a nimble trader))When CFC shows me real signs of turning around on both the technical side and especially the fundamental side then I will go long. Turn arounds you have to analyze the fundamental side much more so that the technicals. I don't try to buy bottoms, pick or guess bottoms. I am a trend trader. I will watch and wait and sacrifice a few $$$ by not attempting to pick the bottom and instead buy in when the trend reverses and the fundamentals for CFC and the sector improve. I do not expect that to be for awhile. I'll buy CFC at $26 swing/long term (let my profits run)IF this is the bottom. I don't think CFC is going to make a trend reversal for quite some time. I couldn't trade today as I had other commitments. I will try and squeeze some $$$ out of this traders rally long and short. That is as clear as I can state my analysis on CFC. Good Luck. Now effy can spout some more of his gibberish.....
Speaking if gibberish, read the preceding. You took the time to type that? Whoa. Ever heard of paragraph breaks? Indicently, I've never intitiated a thread about CFC. Like $20, you clowns are a magnet for me. Well, maybe it's me, being a fuckhead magnet. Luck is a four letter word. Some view it as preparation meeting opportuntity. Glad YOU'RE concerned about MY 58%, but I haven't even "begun" to operate. Quote me from my abundance of gibberish, and FIND the word "bottom". Once. But on yours, there's a sphinchter.
You know big boy, you're absolutely RIGHT! I did use the word bottom in the phrase "mild double bottom" That's a little different the intent of thee absolute bottom. A matter of semantics. But IF you want to strrrrrretch words to suit your ego. Fine. Couple sailient points are missed. 1. From a short perspective, there has been NO net progress in a month. 2. You have NO position, correct?
You make this nonsense up as you go along don't you? "Mild double bottom" why don't you elaborate you BS'n nut case. Expalin that. Show a T/A chart and point it out......there isn't any double bottom......actually don't even bother,.... you'll just fabricate some other wacked out BS and try to pass it off as some analysis with some factual basis..... All gibberish as you don't have a F'n CLUE as to what you are talking about. Maybe you should up your meds or something.
My my, touchy touchy. Are you menstrating? The o'l snatch givin' you problemz? Ax rain on your parade? 52 week low, actually 6 year low on August 16, precisely at $15. Hmmm, a coincidence. Failed to subsequently breach IT lower after 4 weeks. I'd call that at least a temporary cloo. A mild one. A closing basis and intra-day are two different price points. Ax determines both. But, it's cute how you rationalize. Oh, and the remark about the "meds". Not too original. But then neither is your thinking. Media-inspired. Monkey see, monkey doo. How's that for ANALysis?