Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Random Thoughts: Is Countrywide the Next Shoe?

By

Keep an eye on financials today.

PrintPRINT
  • Could it be that the shoe that looms is Countrywide (CFC)?

  • I mean, how can Bank of America (BAC) not back the mortgage lender's outstanding debt?
  • Why am I reminded of a relationship where you don't wanna break up...you just wanna make life so miserable that the other person (or, in this case, shareholders) gets fed up enough to walk?

  • What ails Mother Morgan (MS) (it's been saggy from the word go)?

  • We mused on Monday that a false breakout to S&P 1420 was resonating and the action today (not to mention Bennet's Buzz) is consistent with that view.

  • S&P 1405 is right here, right now. Textbook Technical Analysis dictates that a retest of resistance is newfound support. As such, expect the bulls to defend their turf (or risk losing their 'catalyst').

  • What happens to your lap when you stand up?
  • Did I mention that I'm shooting to Fort Worth on Tuesday for a one day Texas sized turnaround?

  • Y'all see that 50% rally retracement in Google (GOOG) that stalled precisely at that nice, round number?

  • Lesson du Jour? Trailing stops are our friend (as I watch Baidu (BIDU) slip after hitting--and quitting--it).

  • Blue jean baby. LA lady. Seamstress for the band...

  • Does anyone else feel fried and tried by the time Friday rolls around?

  • Why do my eyes continue to migrate back to Washington Mutual (WM) (-2.5%)?

  • Along those lines, keep Goldman (GS) and the other piggies on ye radar in light of the action in MS, Lehman (LEH), American Express (AXP) and JP Morgan (JPM). If that log rolls over...

  • My best thought? Accumulating volatility. That's not a directional vibe as much as a strategic direction. Well, that and sleep.

  • It's virtually impossible to eat chicken and ribs without covering yourself in barbecue sauce. Well, at least that's the case while trying to eat, trade, write and build all at the same time.

  • "The first thing you have to do is believe. If you don't believe, you don't have a chance. You have to believe and then everything is possible. When you start believing, it's already happening. You just have to put the pieces together." Jaromir Jagr of the New York Rangers.

  • I've got a slammy May schedule shaping up, including a Florida trip Friday (family wedding) and a west coast, four-city swing into Memorial Day. There's a shot we might toss a Seattle Minyanfest on the books for Tuesday, May 27th so Mariner Minyans please lemme know if that's something that might be of interest so we can sniff it out!


R.P.

No positions in stocks mentioned.

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE