But CFC (Countrywide Finance) has been in a sideways range for a very long time and to me is too obvious here. Still, if one were to play it on the downside I could certainly make a case for it. Bear Stearns looks like it is ripe for a major whacking although it has already dropped from $165 to $150 it certainly has more room to fall. I’ll tell you one that I really like that no one has considered. Over the last 3 years it has skyrocketed ($40 to $106) on the back of the housing explosion and while most housing related stocks have taken the obvious hit, this one is like a guillotine being raised. Check out Landamerica Financial Group (LFG). You want to short (or buy puts) at the high and this one is there. What do they do? Title insurance. Home sales are plunging so that means title insurance earning are going to be taking a hit. For the savvy, ballsy investor willing to go against the crowd, this one is a beauty. Oh it has all the earmarks of a fat money maker. If you buy yourself a put on this one, make sure to give yourself plenty of time. It has puts that go out to Jan 2009. Check it out. Another title insurer that is also ripe and sells in the $50s after a run up is First American (FAF)
