Told you guys so....LEts hope we hold the 3.40 level. Volume is very thin and low which is what you want to see with a pullback. Macro market will control the directions and moves of RDN in the short run.
100 share lots all day...someone seeks to hold price down....maybe a slow rollover... Folks dont be on margin with this security.....Forcing it below 3 bucks will make it non-marginable at most brokers....causing margin calls and more selling.
Hey Jaxon...incredible...isn't it?
Oh...and don't miss this one!
Oh...I'm back in the saddle...again...dum, de-dum, dum...
Agreed. in the short term I have no idea where we are heading, I guess next monday might be the turning point when MTG reports its earnings, things are more clear at that time. Fundamentally I am not worried about RDN. RDN is a much bigger Co. now than last year as it has doubled its NIW. the NIW is profitable, this is why someone liked to take risk to make the reinsurance agreement with them. MTG had been doing the same. this is one way they can save their cash to write more new business and take more market shares.
Dont know. volume is low which is good but the probability of hitting 3.25 is 50/50 right now. Dont be surprised to see someone dump a bunch of shares near the close to try and break support and take out all the stops to push it lower. I have seen this happen many times before....easy to do on little market cap RDN. The big question is will there be any sellers if and when the price hits 3.25 for the next leg up??? meaning... .the shares available to short (borrow) right now are at a alll time low. The shorts might realize that selling more at these levels or lower is silly because the story of RDN is turning around and many of the current Long shareholders are not traders and will not be forced out by weekly volitility. Simply put demand for shares to cover might out strip supply.
Agreed. We longs need to focus on RDN's fundamental improvement. C released $1.2B in the loan loss reserves, almost 40% of its income in the last QTR. Let us see what will be for MTG next monday.
I now think 3 bucks is doable if the market has a 10% correction.... the only thing the stock has currently at least TODAY on a technical basis is very low volume. This can be easily manipulated down by the tutes.