Surprised MTG and RDN not up big today. AGO, MBI, even Ambac and Triad up on this news.
it would have more impact on bond insurers then MIs. especially the ones with big law suits against the banks. that's why MBI and ABK are up big today.
This gives you an idea how much HFT algo's are a part of the new trade dynamic. It makes absorption of the AGO/BAC realities a bit slower.
This just translates to opportunity for actual humans who can act ahead of the programs.
You are correct, in the old days the entire group would be up larger just on that news. For that matter the performance of housing in general would have had a more rapid effect.
Slow is good though. Time for retail types to ease back in to the huge potential opportunities like MTG.
Sentiment: Strong Buy