Just sold my CFC at $5.65. P+L $20. Yes $20.
I can't believe I bought into this in the 2 days before a takeover was announced and I've still managed to make no money. If only I'd been around last Thursday afternoon...I didn't see the news until after the close. Up 51% and $4,000, yeah I'd have taken that! F*ck f*ck f*ck.
Sucks. But I'm not going to lose money on this one.
Whilst there are definitely risks in the merger going through, I still think it's more likely than not that it does, no matter how bad housing, and Countrywide, looks like by the 3rd quarter. Anyway, I'm sick of seeing this stock now, so out it goes.