Shorting CFC

[casey1167]

Does anyone know if there are mutual funds out there that are short on Countrywide? Sort of the same as a Mutual fund like BEARX would be on the market?

I just was trying to figure if I could short CFC through my 401(k)

[AwaySooner]

[casey1167]

Well, CFC closed down 10.5% today. Not to sound greedy, but I would have liked to be part of that action....

[biliruben]

[casey1167]

Last I read 18.50% of outstanding shares of CFC are shorted, but it seems like most people were covering at $9.

I just don't see how CFC is going to be a going concern long term.

[AwaySooner]

Well would've, could've, should've. Holidays sales data was up "8%", Hang Seng rose 1000 points, the market could've gone the other way.

I have C puts that I sold two weeks ago, how's that for kicking myself. I took some profits when CFC dipped to 8+ last week, now I am just going to ride what I still own to the ground. Did I mention I own WM puts since August? Thanks Seattle Bubble, couldn't make it without you. I have a piece of GS action too, plenty of meat left, short that if you have the balls. Thanks Chuck.

[perfectfire]

I bought some SKF about 2 weeks ago and am already up 18%. Thanks market ticker!

I'm looking into some more target plays. Trying to figure out what bank/lender is most likely to go the way of CW in the next months.

[AwaySooner]

Well my friend, tomorrow might be your chance to short CFC. Nikkei just up 500 points in minutes to close when news of Citibank securing "investment" from the Arabs at the low low rate of "11%". Such "good news" would pop the market and financial stocks. You do know that we are just chatting right?

My lawyer make me put this->
Disclaimer: Performance quoted represents past performance. Past performance does not guarantee futureresults. Investment return and principal value of an investment will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted.

[AwaySooner]

[casey1167]

AwaySooner (A/S), I think you should share the wealth. I mean really, please feel my pain.

Unfortunately, I personally can not short, all I got is my 401(k), but I am hoping BEARX has more shorts in CFC then they did a few months ago.

So A/S, in your opinion what is going to happen to CFC in the short, and long-term?

Citibank got a deal with the Arabs 2.25% higher than the one CFC got with BAC I believe.

If anyone wants a good laugh, watch Peter Schiff on youtube. The guy make all of you look like total Bulls on the market. Chick Little could learn a lesson from him....

[AwaySooner]

Oo wee, more news. The market would be sea of red tomorrow.
http://news.yahoo.com/s/nm/20071127/bs_nm/usa_fed_dc_1

Sorry my friend, my portfolio is peanut size. Just trying to add to my down payment fund. Gives me a lot of pleasure profiting from all these greedy unethical mortgage companies, because of them, good family like myself can't get a house at a fair price. Yeah yeah I am the envious renter, I don't like to overpay anything, let alone a 30 years mortgage.

[AwaySooner]

[Lake Hills Renter]

[AwaySooner]

[lamont]