Monday, February 12, 2007

Buying back Countrywide already...6.50% in 2 days!

On Thursday I sold ~£22,000 of Countrywide stock, detailed in this post: http://thetraderboy.blogspot.com/2007/02/cant-resist-betting-on-housing-and.html.
 
The stock is down over 6.50% since then (and it was already down a fair bit on Thursday before I sold it short), so can't resist taking my profits already. I firmly believe that the housing meltdown is only just beginning, but am going to try and trade it around a little. Am still short WaMu and Cap One anyway.
 
£1,376 profits to the home team!

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