its only a matter of time before WM appraisal fraud charges spill into CFC imho. Any such news will take this to single digits. BAC not lookin too spiff on that 2 BIL investment @ 18.
as i have said on my own countrywide posts this stock is history. im staying short until someone from the company has the balls to buy the stock. to date this has not happened. enough said.
Yeah maybe in 2-3-4 years from now. In the mean time it is headed south(along with the rest of the sector...HELLO!) and then will be dead money for months. Value dummies just love to jump in and catch the falling knife and watch their shares continue to drop in value and then wallow away. There is the time value of money to consider and alternative profitable trades. Like going short CFC and other stocks in the sector for now. Then Let things wash out and a bottom to form and the sector to reverse when the housing sector improves. Then go long for position trades. That will be months from now. Now is not that time to be buying housing stocks. It can't be more clear than that. But value dummies tend to be highly myopic.