Shorting CFC

[casey1167]

Deejayoh..... if BAC buys, then price doubles, if BAC pulls out, CFC drops off the market in weeks, not months.

CFC is in the land were only inside traders are making smart plays on the stock.

Given that today the trading volume has been around half the O/S shares, there are a lot of bets at the moment.

[deejayoh]

[AwaySooner]

[casey1167]

[AwaySooner]

[jillayne]

[laxtosnoco]

The deal may fall through yet, but I'm glad the executives worked their retention bonuses in. I was worried they might not be taken care of. Well, I suppose without the green wristbands they'll need something to motivate them.

[casey1167]

[casey1167]

Okay, last time this post was updated was January 18th. At that time CFC was at $4.96, today we are at $4.50. Please tell me someone out there is profiting from this short possition......

[biliruben]

Don't look at me. I sold short at 30, covered at 15. Diddling about after the stock's been relegated to the dungeon takes more courage than I have.

[rose-colored-coolaid]

A 10% drop over nearly 2 months is not the type of action that generally makes people very wealthy on shorting a stock. You'd need to have picked a very long term (say 6months to a year) to even see a return, and that would probably be limited. If you picked a shorter term (say 2 months) and a $5 strike, you could very well have lost money even as the stock dropped.

Shorting is not especially easy to do in other words.

[casey1167]

Rosy, I understand what you are saying, but it is possible.

Anyway, I thought I could just short your stock in CFC... How big a window do you want to give me to replace your stocks?

CFC might become a very good long possition pretty soon anyway though, depending on the BAC issue...

[deejayoh]

CFC is toast. no way BofA buys them now. They already have a call on the choice bits through bankruptcy.

[rose-colored-coolaid]

[deejayoh]