CFC Fresh Lows Looming

Blain Reinkensmeyer
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,

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.

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3 Responses

  1. 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

  2. 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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