Doubtful. So many financial institutions are just waking up to their own subprime credit crisis problems. Damn I thought CFC would take out it's 52 week lows in a few weeks.....looks like it will come sooner than later. Housing stocks builders, mortgage co's are getting beaten down. I wonder where they will be when we retest aug lows and get a 10-15% correction. We go into a recession.....ouch for these stocks! Don't fight the tape go short.
My system says short countrywide NOW!! Use the Dollar Cost Averaging method and ride the dragon all the way down!
Quit while you're ahead. seriously. Your cheerleading will not do anything for your calls. Ops expiry tommorrow, those calls are trash. I think the street.com is hiring. just a thought.
eh, what happens to loans when the issuers go out of business? free money? do they get bought by someone for nickels on the dollar? it is almost buying season. almost. When they are all just about to go out of business we "short sale" a ton of properties. Open a holding company, and tell them how bad they need these loans off of their books. We will take 50-80 homes for 5m total. anyone, anyone?
CFC has a lot of people watching. I won't be surprised by a last minute take-over deal. Everyone is waiting for it to get cheaper. Soros Takes Stake in Countrywide in 3Q http://biz.yahoo.com/ap/071115/soros_fund_quarterly_report.html?.v=1
NFI is in a worse situtation... Look at their dividend payable on Yahoo Finance. A shocking 481.70%!!!
The ultimate hedge. Countrywide wrote my mortgage. I bought a bunch of their Puts the end of May. Countrywide just paid off my mortgage.
Lucky! I knew it was gone down but never figured it would go that far. That was one of the first times I ever traded options too.