For months I was posting that Radian gains never hold. Never. Longs continued to slam me as a short. Just two short weeks ago you were in the $5's pounding your chest talking about $6 and higher. However, you neglected to look at Radians history. A run-up usually is met with a harsher downturn. Always.
All this good news in housing and where is RDN, nowhere. It was comfortably in the $4's and that is now gone. Barrons took Radian down hard and the shorts are reaping the benefits. Radian does not care about shareholders and never defends negative articles.
Though we knew it for some time, TG53 has been exposed for being a quack. This downturn has done him in. He has led you longs down the path of pain and suffering and now your leader is self destructing like a robot short circuiting. Sparks flying everywhere.
At this point, longs have no answers. The real answer is the MI Sector is dead. The run-up was a fluke and it would not surprise me if Radian ends up below $2 with MGIC.
Though I highly respect EX, I don't see the long term future in Radian. Unless I am missing something that he may see.
I hope you longs finally learned something from this, what must be a painful 30% slide in two weeks. Sell when the going gets good cause with Radian its always coming back down.