GOIH Capital Markets: Countrywide Financial (NYSE:CFC)

CFC is trading at $17.05 below $18.00 the conversion price of the BAC investment....we are short CFC at $18.00 for 300,000 shares with a buy stop of $17.50...we see CFC continuing lower as we predicted here in an earlier post.

Target (TGT) has broken below one standard deviation on its price according to our statistical arbitrage model.....as we have stated here in earlier posts the consumer discretionaries are weak and will continue to be weak now that the consumer is tapped out and the calvary is not coming to the rescue.