Posted by Leon_CO on 3/9/07 7:28am
Msg #179109

New Century Financial

When I posted last month about notary signing agents investing for the future, this stock (ticker symbol: NEW) was trading at around $20 a share. I've kept it on the radar and it is currently selling for around $3.87 a share -- less than a month later. It has fallen quite a bit, as I suspected it would. A recent chart of it looks steeper than an Acapulco cliff dive. Is this a buy opportunity? It's difficult to say.

Just this morning I read at the CNBC site that New Century Financial received $265 million in financing from Morgan Stanley.

http://www.cnbc.com/id/17522940

To be quite honest with you, I don't intend to buy it. And this news is not enough to convince me to buy it. It's too much of a risk to take, and you need a lot more information than a few news reports here and there. I'll continue to watch it. It will be interesting to see how all of these companies do in the long run, and which ones will survive.