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An excerpt from my weekly AOL Money/Finance column:

The earnings party of last week was full of fun and frolic. For the most part, if you followed my list of recommendations, you would have had you very own – “Fiesta de Finance.” (See Week in Preview – May 5)

The earnings season is still in full swing and should prove to give a great deal of action with the stocks that will be reporting. But these companies will have to fight through a few new economic barriers. With oil pushing past historic levels and questions beginning to surface concerning the ability of the investor to continue to suppo

Filed under: Major movement, Management, Rants and raves, Market matters, Chasing Value, IndyMac Bancorp (IMB), Stocks to Buy, Best Stocks for 2008

As one who was greatly embarrassed by making a premature recommendation (being kind) that investors give consideration to acquiring shares in IndyMac Bancorp (NYSE: IMB) prior to its dramatic collapse; I can ill afford to suggest that folks jump in now. However, I might just do that.

Yesterday IndyMac jumped about 20% as it was reported that CEO says IndyMac has 'turned a corner' finishing the day at $3.97 a share -- still a long way from its 52-w

People are selling like crazy in fear.  Oh my iPod, the sky is falling!  And funny enough, I'm the guy who loves saying it the most.  :)

Well, in a moment of brightening clarity, I came across a news brief on an insider move. 

IndyMac Bancorp Inc. (NYSE: IMB ) Chairman/CEO, Michael W. Perry, bought 328,988 shares on 2/15 at $7.93, bringing his stake to 578,573 shares.

If Countrywide's Chairmain Mozilo was selling shares like crazy just when he knew the company was gonna dip like a cripple, what does that say about CEO Perry buying shares increasing his stake by 132%.

This is the most overvalued stock on the market, the company will be lucky to escape bankruptcy.  CFC's mgt was twice as smart about the credit crises than IMB mgt, and CFC mgt was happy to sell themselves in mid single digits (a HUGE decline from highs).  Meanwhile, IMB mgt has chosen to try to sweep the credit crunch under the rug, refusing to eliminate the dividend while paying top interest rates on deposits (makes zero sense). 

IMB balance sheet is worth zero, if it's not worth a negative amount (more likely).  Even financial-types seem to accept this, but are betting on CFC and