Thursday, January 10, 2008

CFC-Call me crazy but......

I have been so hating all these pieces of crap for quite a while, but if you want think outside the box and in a purely speculative fashion, I actually think this piece o' crap could go higher.

BAC gets announced as having interest, and the stock goes from $5.5 to 8.90 in 10 MINUTES!!! It then does a "perfect" .382 fib retracement. The stock trades 233 million shares on the upside. I'm sure it's higher in after market but based on technicals this dog has 9-10 bucks written all over it.
According to sources, talks are ongoing and a deal could be announced at anytime, or fall apart at anytime. I will play this one small because anything can happen.


About Me

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.