I think I am going to get long CFC for a very short term trade. There is such a HUGE short position in it that all it would take is for any type of news to be:
"not as horrible as feared"
And then it's ignition, blast off.
I think I am going to get long CFC for a very short term trade. There is such a HUGE short position in it that all it would take is for any type of news to be:
In a purely "free market" system, there ain't no bailout packages. No white knight. No savior. You let the market kill you if you foul up, and you let the market reward you when you do well.
CFC should be allowed to die. Plain and simple. But it won't happen.
Did anyone see that interview their fake tan ice-hole sheet-head CEO did with Maria Bartiroma a couple of months ago. It was rated XXX how "legitimate journalist" Bartiroma let that f---wad slide.
Had I done the interview, I'd have publically humiliated him and embarassed him to the point where he made a tearful confession, or he got so pissed off he took a swing at me......nonetheless, he'd have looked like the farkin icehole that he is.
It's all a crock of bull.....a lot of mularkey.
In a purely "free market" system, there ain't no bailout packages. No white knight. No savior. You let the market kill you if you foul up, and you let the market reward you when you do well.
CFC should be allowed to die. Plain and simple. But it won't happen.
Did anyone see that interview their fake tan ice-hole sheet-head CEO did with Maria Bartiroma a couple of months ago. It was rated XXX how "legitimate journalist" Bartiroma let that f---wad slide.
Had I done the interview, I'd have publically humiliated him and embarassed him to the point where he made a tearful confession, or he got so pissed off he took a swing at me......nonetheless, he'd have looked like the farkin icehole that he is.
To me, fair value is somewhere in the 12s......reason for buy limit at 12.87.
But in the world of stock market lies and fairy tales, how the heck can there be "fair value."
If there were a true "fair value," then ticker prices would go to "fair value" and stay there until new or old business came in.....then it would gap there.
Too abstract to even comtemplate "fair value."
Look it, man, you know better than I the true power of a short squeeze. When there are 75 millions short shares outstanding, all it takes is a tiny spark and kaboom!!!!!!!!!!!!!!!!
WSC-
To me, fair value is somewhere in the 12s......reason for buy limit at 12.87.
But in the world of stock market lies and fairy tales, how the heck can there be "fair value."
If there were a true "fair value," then ticker prices would go to "fair value" and stay there until new or old business came in.....then it would gap there.
Too abstract to even comtemplate "fair value."
Look it, man, you know better than I the true power of a short squeeze. When there are 75 millions short shares outstanding, all it takes is a tiny spark and kaboom!!!!!!!!!!!!!!!!
Also from what I'm reading from the campfire, the BIG MONEY shorts (the ones that run billions and billions of dollars in collusion with their fellow partners in crime cronies, not the small time retail sheethead flunkies like I) are unwinding their positions in CFC.
Why stand in front of that nightmare?
If CFC were going to go to zero, these guys would be holding firm.
Players who turn over billions and billions of dollars on a day to day basis don't lose. They win.
I am just a flunkie along the road trying to hitch a ride up the street without bothering anyone.
I'm OK with that.
WSC-
Also from what I'm reading from the campfire, the BIG MONEY shorts (the ones that run billions and billions of dollars in collusion with their fellow partners in crime cronies, not the small time retail sheethead flunkies like I) are unwinding their positions in CFC.
Why stand in front of that nightmare?
If CFC were going to go to zero, these guys would be holding firm.
Players who turn over billions and billions of dollars on a day to day basis don't lose. They win.
I am just a flunkie along the road trying to hitch a ride up the street without bothering anyone.
My point is people look at historic prices on stocks and think that a 50% haircut means it is 50% undervalued.
CFC hit a high based on a soaring market, that market no longer exists..so based on legit revenues and earnings I am not sure CFC is worth 12 bucks..especially with the write downs and drop in revenue they will keep having.
I think you consider short positions much more than I do, which is completely ok of course.
SPWR hanging in there..I think people are agreeing with your theory about the conference..
claycourt,
My point is people look at historic prices on stocks and think that a 50% haircut means it is 50% undervalued.
CFC hit a high based on a soaring market, that market no longer exists..so based on legit revenues and earnings I am not sure CFC is worth 12 bucks..especially with the write downs and drop in revenue they will keep having.
I think you consider short positions much more than I do, which is completely ok of course.
SPWR hanging in there..I think people are agreeing with your theory about the conference..
Well, call me an idiot (I am), but am going to do the "trade thing" with CFC.
In for "enough to keep me hopping" at 13.98.
Stop loss limit set for 12.67.
Will look to bail out some time during day and fork over 28% of the gains to Uncle Sam.
We shall see, but I think the REALLY BIG SHORTS started covering at 13.50 and will cover all day using the MER news as the negative catalyst.....as in "buy the rumor, sell the fact."
We'll see how good or bad of a trader I am. (I'm bad).
Here we go!!!!!!!!!!!!!!!
Well, call me an idiot (I am), but am going to do the "trade thing" with CFC.
In for "enough to keep me hopping" at 13.98.
Stop loss limit set for 12.67.
Will look to bail out some time during day and fork over 28% of the gains to Uncle Sam.
We shall see, but I think the REALLY BIG SHORTS started covering at 13.50 and will cover all day using the MER news as the negative catalyst.....as in "buy the rumor, sell the fact."
We'll see how good or bad of a trader I am. (I'm bad).
Yeah, WSC, the move off 13.5 for CFC looked like it had legs. Watched it to 14.14, and then on the dip, I took the plunge.
Anything can and will happen, though. It'll keep me hopping the whole day, but I damn sure am not going long overnight with it.....too much potential calamity.
Did you get in IMB? If so, where?
Yeah, WSC, the move off 13.5 for CFC looked like it had legs. Watched it to 14.14, and then on the dip, I took the plunge.
Anything can and will happen, though. It'll keep me hopping the whole day, but I damn sure am not going long overnight with it.....too much potential calamity.
Well so far both my buy orders were within a nickle when I placed, and now both are off those levels..go figure.
I will let IMB hang out, maybe she comes back in..maybe not..and I am holding these shares, not selling for a quickie. Now for me holding isnt a year..it could be a month or two..haha
I have a TRADING acct which is taxable and several IRA accts which are not..
Well so far both my buy orders were within a nickle when I placed, and now both are off those levels..go figure.
I will let IMB hang out, maybe she comes back in..maybe not..and I am holding these shares, not selling for a quickie. Now for me holding isnt a year..it could be a month or two..haha
I have a TRADING acct which is taxable and several IRA accts which are not..
Countrywide Financial (CFC),
the biggest U.S. mortgage lender, will partner with a housing advocacy
group to help homeowners at risk of foreclosure by changing the terms
of their mortgage loans.
Countrywide attributed the widespread home loan restructuring program, which could total as much as $16 billion, to housing.
We've seen this movie before, however.
It's called desperation in the final hour.
Lenders do not help borrowers, not on a wide scale like the CFC program, because they want to, they help the because they have to.
This
is important to note because despite the media billing the CFC
restructuring as some kind of charitable-based benevolent gesture, the
reality, at least from anecdotal evidence, is that homeowners have been
struggling for months to get their mortgages restructured to avoid foreclosure.
Former
homeowners who have now gone through the foreclosure process have
written to us in recent weeks, as rumors of the workouts with CFC began
to surface, noting that in many cases they tried for months to avoid
foreclosure by doing re-working their loan or even attempting a short
sale,
Many report receiving no response from Countrywide.
But this is typical behavior at the beginning (yes, beginning) of a housing downturn.
Recently
we spoke with a man from Texas now living in New York who moved here
just as the property market was collapsing in Dallas in the 1980s.
"I
came to New York with the full intention of selling my Dallas house,
which at the time was just a typical house for a small family I had
bought for $65,000," he said.
"Some offers came, but in
both cases their mortgages fell through. After about eight months of
trying to carry a New York apartment with the mortgage I simply
couldn't do it. Still, I believed that if I could make it just another
8-10 months I could eventually sell my Dallas home, even at a small
loss, and come out ok. So I went to the bank to try and workout an
agreement or even borrow some money to avoid foreclosure. They
basically laughed at me. So I went through the foreclosure process,"
he said.
And what happened to the lender who foreclosed on the property?
"They went bankrupt within a year."
CFC notes from minyanville.com
Countrywide Financial (CFC),
the biggest U.S. mortgage lender, will partner with a housing advocacy
group to help homeowners at risk of foreclosure by changing the terms
of their mortgage loans.
Countrywide attributed the widespread home loan restructuring program, which could total as much as $16 billion, to housing.
We've seen this movie before, however.
It's called desperation in the final hour.
Lenders do not help borrowers, not on a wide scale like the CFC program, because they want to, they help the because they have to.
This
is important to note because despite the media billing the CFC
restructuring as some kind of charitable-based benevolent gesture, the
reality, at least from anecdotal evidence, is that homeowners have been
struggling for months to get their mortgages restructured to avoid foreclosure.
Former
homeowners who have now gone through the foreclosure process have
written to us in recent weeks, as rumors of the workouts with CFC began
to surface, noting that in many cases they tried for months to avoid
foreclosure by doing re-working their loan or even attempting a short
sale,
Many report receiving no response from Countrywide.
But this is typical behavior at the beginning (yes, beginning) of a housing downturn.
Recently
we spoke with a man from Texas now living in New York who moved here
just as the property market was collapsing in Dallas in the 1980s.
"I
came to New York with the full intention of selling my Dallas house,
which at the time was just a typical house for a small family I had
bought for $65,000," he said.
"Some offers came, but in
both cases their mortgages fell through. After about eight months of
trying to carry a New York apartment with the mortgage I simply
couldn't do it. Still, I believed that if I could make it just another
8-10 months I could eventually sell my Dallas home, even at a small
loss, and come out ok. So I went to the bank to try and workout an
agreement or even borrow some money to avoid foreclosure. They
basically laughed at me. So I went through the foreclosure process,"
he said.
And what happened to the lender who foreclosed on the property?
Can't bitch about .52 points in less than an hour. Oh yeah, it was stressful, but it did pay.
Won't be doing this trading stuff for a while now.....I got my yaa-yaas out. I'll let you pros do the trading thing and will retreat back to my boring ways of buy and hold.
Just got filled for sale at 14.50.
Can't bitch about .52 points in less than an hour. Oh yeah, it was stressful, but it did pay.
Won't be doing this trading stuff for a while now.....I got my yaa-yaas out. I'll let you pros do the trading thing and will retreat back to my boring ways of buy and hold.
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