There are some stocks that cannot hang on to their gains. Any good news and it goes up a little, but then retraces back. The upward move for MGIC in the last several weeks has been unprecedented out of the ordinary.
now its time to give back the gains. It may be a buy in the 2.75 area though in the next few days
$2.75?? That's laughable. I loaded up at $3.86 when it dipped for a day and then it settled in the mid 4's. I feel the baseline is in the 4's but feel that may be temporary since the fiscal cliff was resolved. This is probably a low 5 stock now
I also bought around $4.00 as it was getting punished with all the Israeli stocks during that turmoil over there, but reality is, MGIC is an internationally focused compnay with a Polish majority owner, so could easily work around domestic political issues.
MGIC is one of he cheapest software companies out there, with good growth, good management and now a strong dividend policy.