350zCommtech's Account Talk

[350zCommTech]

Countrywide is at the end of the week. They will be very bad.

Yes, I agree. I will definitely be in either G or F on Friday.

 

[ATCJeff]

I wrote this back on July 24, 2007:

Agree 100%. Today was all about Countrywide! If I would have known they were going to have an investor conference call today, I would have moved some to the sidelines yesterday. They have been the leader in sub-prime woes.

Then I called it a conference call, which it was, but it was also the day 2nd quarter earnings were reported.

Countrywide is at the end of the week. They will be very bad.

Yes, I agree. I will definitely be in either G or F on Friday.

Countrywide (CFC) reports before the bell on Friday. The returns on July 24, 2007 were C fund down .35 (2.03%), S fund down .49 (2.35%), and I fund down .42 (1.66%).

I will be on the sidelines Friday. Good luck all.

Jeff

 

[350zCommTech]

My home builder just filed for chapter 11.

Neumann in Chapter 11
October 22, 2007
BY DAVID ROEDER droeder@suntimes.com

The crash in the Chicago-area market for new homes has claimed its biggest casualty. Suburban builder Neumann Homes Inc. said Monday it will file for bankruptcy and has laid off most of its employees.

Warrenville-based Neumann blamed its predicament on a drop of more than 50 percent in annual sales within the Chicago and Denver markets. It also pointed to a decision in 2005 to invest in the Detroit market, a move it said cost the company more than $60 million.

Neumann said it will file for a Chapter 11 bankruptcy and that its lenders have agreed to provide limited additional funding so that its assets can be evaluated and sold.

http://www.suntimes.com/business/614868,neumann102207.article

 

[fedgolfer]

Countrywide (CFC) reports before the bell on Friday. The returns on July 24, 2007 were C fund down .35 (2.03%), S fund down .49 (2.35%), and I fund down .42 (1.66%).

I will be on the sidelines Friday. Good luck all.

Thanks Jeff, I agree. Taking some profits before some bad data hits again is smart. The iPhone can't save the economy on its own... maybe it can keep tech propped up for a couple days, but this rally appears to be a bounce.

 

[350zCommTech]

Going F fund.

 

[350zCommTech]

Game over?

View attachment 2350

 

[Boxholder]

Game over?

View attachment 2350

Just half-time. Could get sloppy though in the 2nd half.

 

[350zCommTech]

Fed's Kroszner Any new subprime law must not restrict credit

By Greg Robb
Last Update: 10:00 AM ET Oct 24, 2007

WASHINGTON (MarketWatch) -- Any new law passed by Congress to clean up the subprime mortgage market should not restrain responsible lending, said Federal Reserve Governor Randall Kroszner on Wednesday. "Getting this balance right is particularly critical now, as many borrowers facing rate adjustments may need to refinance into more affordable loans," Kroszner said in testimony prepared for delivery to the House Financial Services Committee. Kroszner said Congress should also not approve any measure that would have a "detrimental impact on the ability of lenders to securitize loans." House Democrats have introduced legislation to set out new rules for the subprime market includes a measure that would let homeowners sue Wall Street firms for relief from mortgages that they could not afford.
http://www.marketwatch.com/news/story/feds-kroszner-any-new-subprime/story.aspx?guid=%7BF8FC6CC8%2DF7D1%2D4671%2DBCE8%2D127340AF7416%7D&dist=hplatest

Kroszner,

You Wall Street whore, securitization of loans is the reason why we're in this sub-prime/credit market mess.

 

[Birchtree]

Strumpet is more connotative of congeniality.

 

[350zCommTech]

F fund up 4 cents so far today.


TNX is quickly approaching support. I might take my F profits today.

 

[350zCommTech]

Taking profit and going to G fund.


Both Pulte homes and Ryland homes will report losses after the bell.

 

[350zCommTech]

Suckers wanted....

Analysts betting higher on Amazon.com Brokers lift price targets despite sell-off; median now above $100

By Dan Gallagher, MarketWatch
Last Update: 2:04 PM ET Oct 24, 2007

SAN FRANCISCO (MarketWatch) -- Despite a sell-off that deflated some of the air in Amazon.com's balloon on Wednesday, several Wall Street brokers are effectively upping their bets on the stock.

At least a dozen analysts have increased their price targets on the stock, even as many continue to voice concerns about the shares' high valuation.

Late Tuesday, Amazon reported a sharp gain in third-quarter earnings that was helped by growing sales, especially those from third-party sellers using the company's popular Web site. Sales also got a boost from the latest "Harry Potter" installment.

However, the company's forecast for operating earnings in the crucial fourth quarter was below some estimates. That helped spark a sell-off that pushed down Amazon's shares nearly 15% to $85.75 by early Wednesday afternoon. The stock had jumped the day before to close above the $100 mark -- its highest point in nearly seven years and up 120% in the past six months.

Read the rest here:http://www.marketwatch.com/news/sto...x?guid={A13D3C6A-ADBE-49C2-961A-6C5922274FC2}

 

[Frixxxx]

Suckers wanted....

I thought there weren't anymore Harry Potter books coming out? LOL

 

[350zCommTech]

I thought there weren't anymore Harry Potter books coming out? LOL

LOL!!

 

[350zCommTech]

Did somebody just leaked a rate cut for tomorrow?

 

[350zCommTech]

F fund down 1 penny so far today.

I'm not sure if CFC's CEO will talk tomorrow or not, but if he does, he might say the "R" word a few times.

With the market flat today, I think I'll go back to the F fund. Bidu is up 3% already today, I have a feeling they might disappoint.

 

[350zCommTech]

Bank of America - Wholesale Lending
2007-10-25

"It is with much sadness that I write to inform you that Bank of America has opted to close its Wholesale Channel effective December 31, 2007. This is a bank strategy to become number one in direct to consumer... I do not have much information at this time but it is my understanding that all loans in the pipeline will be honored and we will continue business as usual for an additional thirty days from the date of this announcement."

http://ml-implode.com/imploded/lender_BankofAmerica_2007-10-25.html

I wonder if this will affect CFC...

 

[350zCommTech]

FYI,

CFC conference call at noon EDT.

 

[350zCommTech]

S&P can't move past the 20 DMA, which is also the 61.8% level. Going for the penny.

 

[350zCommTech]

I'll taking my medicine today and go to G.