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August 16, 2007


Stock Du Jour (CFC Intraday) & Random Observations

Flat choppy day until 2 PM when sellers showed up and hit the market hard — every day it’s the same thing it seems.

Notable New Highs: VMWare (VMW) and UltraShort Real Estate (SRS).

Notable New Lows: Heely’s (HLYS), LaZBoy (LZB), Fremont (FMT), Northwest Airlines (NWA), St. Joe (JOE), KKR Financial (KFN), US Airways (LCC), E*Trade (ETFC), and most important of all: Countrywide (CFC).

I’ll feature the intraday chart of Countrywide (CFC). It did nearly 125,000 trades today, and set up beautifully for Dummies who were watching it.

UPDATE: Most read story on the Bloomberg: Countrywide Falls; Merrill Cites Bankruptcy Prospect

CFC

This entry was posted on Thursday, August 16th, 2007 at 8:19 am (utc+8) and is filed under Trading and Investing.

3 Responses to “Stock Du Jour (CFC Intraday) & Random Observations”

  1. Hugh said:
    August 16th, 2007 at 8:30 am

    Nice graph. I thought after a tough day I might relax a bit. But that chart gives me post traumatic stress. The best thing one might say is that a bid materialized before the bell rang. Me? I am not reaching out for the falling knife. That said, I was tempted by TMA today. But, alas, I remained disciplined.

  2. Dinosaur Trader said:
    August 16th, 2007 at 9:02 am

    CFC in the teens… who woulda thought?

    Single digits anyone?

    Getting uglier every day.

    -DT

  3. Hugh said:
    August 16th, 2007 at 9:14 am

    Yep. Going to get uglier tomorrow for sure.

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