Ascending triangle breakout to the upside. Up 1.52 as of now. I've been waiting a while for this. http://stockcharts.com/h-sc/ui?s=CFC&p=D&yr=0&mn=7&dy=0&id=p90893460114 cm
Good call, I'm bearish on the company, but the chart looks good. Bad business to be in, insiders dumping but the stock goes up and up. Sound like a buyout coming. tough to be short on this one in light of the chart and heavy institutional ownership. kudos!
Actually, last week the chair thrower said they were likely to be bought out, i want to say by MER, but might have been GS that he speculated would by
I'm very tempted to short this but Cramer cursed me on this. Almost did it at 41.30 but didn't do it with my losses piling on today.
If this stock doesn't exemplify the disconnect between reality and stock mania then I don't know what does. http://countrywide-foreclosures.blogspot.com/
It's fucking insane basically...I think that Mozilo and company are a bunch of bullshit artists. I don't trust them. Luckily I knew a little better than to fight that one and I let my losses go before they got too big. It will maybe be another great short someday, probably only when the rumor mill stops churning that buyout bullshit. It's starting to make me a little sick honestly.
Just read (thank you Prof Fil Zucchi from Minyanville) that BKUNA's largest shareholder sold off 947K shares. During the same period BKUNA repurchased 883K shares. Wonder if there are similar "convenient coincidences" at play with CFC.