I am looking at some bottom feeders today. Countrywide & Merrill Lynch are trading very low (and for good reason). When I look at a play based on problems in a sector I usually want to look for the sector leaders because they seem to rebound faster and there is less risk of a complete collapse. Countrywide fits that criteria, but it is hard to find the bottom, and I don't like to chase stocks lower because then you have to play the waiting game. I am going to pass for now, but I will keep my eye on both.
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