BofA Invests in CFC

[temeculaguy]

yahoo is showing it up 20% to 26.25 in after hours, if it rallies to 30 I’m going to think about shorting it. The bulls have been dying for this turn around and it won’t hold. I don’t see how a 1/2 a point will make all the repos go away or the 2/28’s and neg ams resets will suddenly find utopia. Those loans are going south bcause of affordability ratios that won’t be helped by even a a full point or two drop. These loans are failing because they can only afford 1% interest. Even flat prices will sink these people that countrywide got into bed with. B of A is up a little in after hours as well, that makes sense, one of the few banks not scheduled to get screwed in the subprime mess decides they don’t want to be left out and it somehow makes them more attractive?

[Anonymous]

Even if the Fed drops rates it is only a temporary solution. In the long run things are going to continue to unravel in the financial markets. I advise all the folks involved in shorting this market to have some margin ready over the next month. If the Fed drops rates, that market may spike, leaving another great shorting opportunity.

[Anonymous]

Even if the Fed drops rates it is only a temporary solution. In the long run things are going to continue to unravel in the financial markets. I advise all the folks involved in shorting this market to have some margin ready over the next month. If the Fed drops rates, that market may spike, leaving another great shorting opportunity.

[Anonymous]

Even if the Fed drops rates it is only a temporary solution. In the long run things are going to continue to unravel in the financial markets. I advise all the folks involved in shorting this market to have some margin ready over the next month. If the Fed drops rates, that market may spike, leaving another great shorting opportunity.

[Coronita]

I really hope folks here betting the farm against 1 stock really have the stomach to digest things IF CFC really does get bailed out. I mean, a lot of you folks have been talking about how you are spending the effort to "save" for when home prices become affordable.

I no longer have any interest in CFC itself (I bought and sold on a $2 spread), as i think there really is too much uncertainty on this one, but I'd really would hate to see it if folks here take on a huge position one way or the other thinking of making "easy money", only to see their savings pissed away if things don't work to the direction you want.

 

Please don't make the same mistakes that I have back in the dot com days when "saving" meant "gambling" on stock pick or short. Example.

I originally wanted to buy a car that cost $30k. Instead of buying the car, I decided, why not hold of 1 month and put the $30k into the market, so I could by the "S" version of the car? Result: Stocks went up and then came down. Was not a happy camper.

[Coronita]

I really hope folks here betting the farm against 1 stock really have the stomach to digest things IF CFC really does get bailed out. I mean, a lot of you folks have been talking about how you are spending the effort to "save" for when home prices become affordable.

I no longer have any interest in CFC itself (I bought and sold on a $2 spread), as i think there really is too much uncertainty on this one, but I'd really would hate to see it if folks here take on a huge position one way or the other thinking of making "easy money", only to see their savings pissed away if things don't work to the direction you want.

 

Please don't make the same mistakes that I have back in the dot com days when "saving" meant "gambling" on stock pick or short. Example.

I originally wanted to buy a car that cost $30k. Instead of buying the car, I decided, why not hold of 1 month and put the $30k into the market, so I could by the "S" version of the car? Result: Stocks went up and then came down. Was not a happy camper.

[Coronita]

I really hope folks here betting the farm against 1 stock really have the stomach to digest things IF CFC really does get bailed out. I mean, a lot of you folks have been talking about how you are spending the effort to "save" for when home prices become affordable.

I no longer have any interest in CFC itself (I bought and sold on a $2 spread), as i think there really is too much uncertainty on this one, but I'd really would hate to see it if folks here take on a huge position one way or the other thinking of making "easy money", only to see their savings pissed away if things don't work to the direction you want.

 

Please don't make the same mistakes that I have back in the dot com days when "saving" meant "gambling" on stock pick or short. Example.

I originally wanted to buy a car that cost $30k. Instead of buying the car, I decided, why not hold of 1 month and put the $30k into the market, so I could by the "S" version of the car? Result: Stocks went up and then came down. Was not a happy camper.

[Anonymous]

Don’t worry about the betting the farm on CFC. I wouldn’t put all my my eggs in one basket. But even if CFC gets “bailed out”, long term their stock is bound to go much lower than it is today (just look at the chart since 2000, it is pretty clear where it came from).

I understand your point about the “easy money” syndrome. It is for that reason that I’m shorting this thing all the way to the bottom. I learned my lesson in 2000 also, the mistake was going long on equities and I lost a shitload. If I had shorted tech stocks in 2000 I would have made a killing. Well now I AM making a killing.

[Anonymous]

Don’t worry about the betting the farm on CFC. I wouldn’t put all my my eggs in one basket. But even if CFC gets “bailed out”, long term their stock is bound to go much lower than it is today (just look at the chart since 2000, it is pretty clear where it came from).

I understand your point about the “easy money” syndrome. It is for that reason that I’m shorting this thing all the way to the bottom. I learned my lesson in 2000 also, the mistake was going long on equities and I lost a shitload. If I had shorted tech stocks in 2000 I would have made a killing. Well now I AM making a killing.

[Anonymous]

Don’t worry about the betting the farm on CFC. I wouldn’t put all my my eggs in one basket. But even if CFC gets “bailed out”, long term their stock is bound to go much lower than it is today (just look at the chart since 2000, it is pretty clear where it came from).

I understand your point about the “easy money” syndrome. It is for that reason that I’m shorting this thing all the way to the bottom. I learned my lesson in 2000 also, the mistake was going long on equities and I lost a shitload. If I had shorted tech stocks in 2000 I would have made a killing. Well now I AM making a killing.

[Coronita]

Deadzone,

My point about "easy money" was really independent on the direction one was betting. I really have to say, you're braver than me. I hope you don't have to deal with maintenance margin calls if CFC pops due to momentum.

 

The irony of the situation though. A bunch of Countrywide Bank account holders were paranoid about their bank going under, and transfered their assets to BofA. And what does BofA do? Take their savings they just deposited and invests it back into Countrywide. LOL!

 

 

[Coronita]

Deadzone,

My point about "easy money" was really independent on the direction one was betting. I really have to say, you're braver than me. I hope you don't have to deal with maintenance margin calls if CFC pops due to momentum.

 

The irony of the situation though. A bunch of Countrywide Bank account holders were paranoid about their bank going under, and transfered their assets to BofA. And what does BofA do? Take their savings they just deposited and invests it back into Countrywide. LOL!

 

 

[Coronita]

Deadzone,

My point about "easy money" was really independent on the direction one was betting. I really have to say, you're braver than me. I hope you don't have to deal with maintenance margin calls if CFC pops due to momentum.

 

The irony of the situation though. A bunch of Countrywide Bank account holders were paranoid about their bank going under, and transfered their assets to BofA. And what does BofA do? Take their savings they just deposited and invests it back into Countrywide. LOL!

 

 

[temeculaguy]

Don’t worry about me, I only play with what I budget for vegas and lately i am sitting on the sidelines for both stocks and vegas because as the old saying goes “If I bought stock in a funeral home, nobody would die.” FLU, so did you end up with the C class or the E class? Consider it a cheap lesson in life if it only bumped you between classes of mercedes rather than between steak and hot dogs or meth and rent, everyone has to pay for their real education somehow and it sounds like yours wasn’t all that bad in the grand scheme of things, happy camper or not you still had a tent to camp in.

[temeculaguy]

Don’t worry about me, I only play with what I budget for vegas and lately i am sitting on the sidelines for both stocks and vegas because as the old saying goes “If I bought stock in a funeral home, nobody would die.” FLU, so did you end up with the C class or the E class? Consider it a cheap lesson in life if it only bumped you between classes of mercedes rather than between steak and hot dogs or meth and rent, everyone has to pay for their real education somehow and it sounds like yours wasn’t all that bad in the grand scheme of things, happy camper or not you still had a tent to camp in.

[Author]

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