CFC Fresh Lows Looming
Posted on Sat 29th Dec, 2007 11:42:14 AM
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,
Click 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.
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
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.