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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (7600)	3/8/2007 7:02:58 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

NEW-- ch 11---I think we had the right idea that the credit lines would get pulled, and NEW would implode...(see post I am responding too) New Century falls on bankruptcy rumors-analysts Thursday, March 08, 2007 1:14:36 PM (GMT-06:00) Provided by: Reuters News NEW YORK, March 8 (Reuters) - New Century Financial Corp. <NEW.N> shares fell as much as 34.1 percent Thursday on market speculation that the subprime mortgage lender would seek Chapter 11 bankruptcy protection, analysts said. Laura Oberhelman, a spokeswoman for Irvine, California-based New Century, said the real estate investment trust does not comment on market rumors. The rumors surfaced six days after New Century disclosed a criminal probe into securities trading and accounting, and said its survival might depend on getting help from its own lenders. Earlier Thursday, Greenlight Capital LLC, the REIT's second-largest shareholder, said its principal David Einhorn resigned on Wednesday night from New Century's board. New Century shares fell $1.16 to $3.99 in afternoon trading, after earlier falling to $3.40.