Let's see, down 1.4%. Not even one day's average range. Not exactly momentum. Two consecutive day's a buck above it's intra-day low. Not exactly momentum. News? That was yesterday. Internal. By design to BOTH timing and content to get the desired response. Oscillating around that nice big fat round number. Every tick has both a seller and...............lo and behold, a buyer. Good volume. But sellers are aleviating ownership risk and willing to incur a taxable event whereas, buyers incurring FRESH risk. THis of course includes the ax. Time decay's approaching. Weeeeeeeeeeeeee. That's a given. Delta's the wild card.
Well , Genius I made yet even more money on Aug puts today. I am sure you didn't! Meltdown just beginning and top execs of CFC are dumping their equity in the co. before it tanks! Excert from new article./ Countrywide CEO Exercises Options Thursday July 26, 3:26 pm ET Countrywide Financial Chairman and CEO Angelo R. Mozilo Exercises Options for 46,000 Shares NEW YORK (AP) -- The chairman and chief executive of mortgage lender Countrywide Financial Corp. exercised options for 46,000 shares of common stock under a prearranged trading plan, according to a Wednesday Securities and Exchange Commission filing. In a Form 4 filed with the SEC, Angelo R. Mozilo reported he exercised the options Wednesday for $10.89 and $14.69 apiece and then sold all 46,000 of the shares on the same day for $30.52 apiece. The stock sale was conducted under a prearranged 10b5-1 trading plan which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material non-public information. Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction. Countrywide is based in Calabasas, Calif. Top execs have been dumping over 200k shares every single week for a year now. What does that tell you genius? Can you say another Worldcom I sure can. Books have been cooked and when the public know just how bad it is everyone will run for the exits. Then this co. will be sold off in parts. BTW I went short 20 contracts of ES at the bell( I mainly trade Eminis). It has been a fun 2 months!
Never used the word genius. But I have used "child". A phrase you coined (not to be cofused with the coin you've made on your OPEN posiiton). Around August 9th, we'll see how mouthy you are. CFC outstanding is 593 MILLION. Average daily volume is 17.4 MILLION. Works out to about 2.7 million per hour. Relative to 200,000 per week, WHAT does that tell you? It should come as no surprise I didn't have a good day. However, I unwound much July 10th once new lows exceeded 50, preferring to pay tax over tuition. The real distinction is, I know how to handle such days, .......................you don't. I can see that in the hollow (but cute) gloating. CFC closed below $30. Golly. CFCTY is what? A buck? Don't spend it all in one place.
I will enjoy the money that is for sure. Maybe you should read some newpapers fella. You and sisipuede got into it and now we have this discourse. I wish to not follow it further I actually trade for a living and arguing with you is pointless. I try to avoid such conversation online and will do so from this point. I have 23 days to expiry, CFC will be under 27.50 whithin days. No need to respond I am finished talking with you.
Finished? Sounds so final. Incidently, YOU approached me. I make concerted efforts NOT to read mass media. Particularly from staff writers, 3 years out of college, needing something to write. Not pointless IF you can make a case. AT $27.50 I will indeed be WRONG. This may be important if right or WRONG is your motive rather than money. Actually, IF I don't have losses, I'm probably not making enough trades. Serve as latent assets to offset future gains. Being of more value to me than a newspaper, each loss above a threshold is entered into a LOSSES journal for future reference. Speaking of future reference, CFC was last in the money, relative to your "few" contracts May 11, 2004. I think that can be measured in years, months, or weeks (as well as days). One parting thought: It's easy to get wet in a rainstorm. Requires no great skill. All one has to do is........................stand there.