CFC Fresh Lows Looming

I would be willing to bet that Countrywide Financial (CFC) is on its way to posting new all time lows under $8.21 next week.

Here is the chart,

cfc-122807.pngClick to view, click again to zoom

Washington Mutual (WM) has already shown a similar pattern and broke to the downside. There is no reason why CFC won’t follow.



-- Posted by Blain Reinkensmeyer on December 29, 2007 at 11:42 am --

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3 Responses to "CFC Fresh Lows Looming" »
Comment by Harold Subscribed to comments via email
2007-12-30 04:31:18

Investor Aidis Zunde makes some good points on why CFC is a sell. Here is the article:

http://www.vestopia.com/Blogs/DirectorBlogEntry.aspx?postId=13878&piid=51

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Comment by Aaron
2007-12-30 16:07:33

I would certainly bet the same way. I see no catalyst to move this thing higher in the near future. CFC and WM are the face of this mortgage mess.

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Pingback by ETFC and CFC Sell Off - Stock Trading To Go
2008-01-07 15:30:56

[...] CFC Fresh Lows Looming. Posted this when CFC was at $8.73. [...]

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