New Century Financial Under Criminal Probe; Fremont Quits Subprime Market

How about CFC ? It's at 37 - hmm.. I might have to buy some puts on this dog. It has to go down..

 

It's amazing.

NFI from 40 to 7 in 52 weeks.

LEND from 60 to 21 in 52 weeks (and perhaps to 10 in a few more).

IMO, the next crashing sector: Chinese stocks trading on US exchanges. Could mirror the performance of REITs over the past year.

 

This one's definitely getting delisted. Even with the news priced in, this could still be a great 3-5 day short opportunity. Just depends on how bloody Monday morning (pre-market) will be for this stock.

 

Wish I could short new or nfi. But Ameritrade would'nt allow me to short these stocks or LEND for last couple of weeks.

CFC countrywide is more prime busness and a more of a solid reputation. I would'nt call that a dog stock.

 

Before the Bell:


*NEW -8.20*

NFI -1.75
LEND -4.25

 

Timber!!

 

Chart for fun. Only a madman scalper would buy this!!

 

only ome im able to short is CFC

 

Having seen a few of these kinds of action before, i think NEW is headed for bankruptcy. Not only is business really bad, but now there are criminal probes. I really doubt they will survive that combo http://lauristonletter.blogspot.com/

 

Since I posted that chart, NEW is up $.40 cents. That's what I get for not wearing my tin foil hat!!