Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Tuesday, January 08, 2008

Countrywide hit again

The credit-crises fueled another day of financial losses Tuesday. Countrywide Financial, the nation's leading mortgage lender, dropped 18% even after the company said rumors that it was planning to file for bankruptcy protection weren't true. Option activity in financial stocks was very negative, as put options heavily outweighed call options. Gold futures hit a new record high, up $17.90 to $879.90 an ounce and crude-oil futures rose $1.42, to $97.51 a barrel. DJIA -238.42 Nasdaq -58.95 S&P 500 -25.99