Merrill Lynch downgraded Countrywide Financial Corp. to sell from buy, citing concerns that liquidity in the mortgage sector could further erode the value of the company's franchise. The broker told clients it fears that the acceleration of margin calls and forced asset sales in the capital markets could lead to more problems for Countrywide to finance its mortgage operations. "Should a liquidity event occur, for which the likelihood is increasing, Countrywide shares would probably witness further selling pressure," Merrill concluded.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=100922&perpage=6&pagenumber=1 read comments made a couple days ago Merril should have came out with this when the stock was at 38...not 23 morons d
From BUY recommendation to bankruptcy. I guess they have gotten themselves and their big clients out by now. Mozillo must be out by now also.
60 MIN Chart CFC showing two big VOLUME candles > 12 MIO shares => if not today in the coming days we may see a decent rise...IMAO
Amazing. Someone over there must have thought to read the financial section in the NY Post between sessions of Soduku, or whatever that game is called...
Merrill's reversal on Countrywide is turning point http://www.marketwatch.com/news/sto...B6-29DC-44DD-9147-DED3D0B71162}&dist=hplatest Market sages often say that you can't get to the bottom of a market until you see capitulation. The decision by a Merrill Lynch stock analyst Wednesday to reverse course on Countrywide Financial Corp. is among the most dramatic signs yet that that capitulation has begun. he, he, he...capitulation is always good entry point...