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PMI Group Inc. Message Board

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  • paidbasher38291 paidbasher38291 Dec 17, 2009 12:05 PM Flag

    Support 2.01

    not a quiet day per se, but a quiet period, think about it, there has been absolutely no significant news on the housing market recently, a few meaningless stats about starts and sales, but very little about delinquency data or house price indices, we are in a traditionally quiet period between holidays, etc, why not cover your shorts 75k at a time so as not to drive the price up, it is a very smart strategy, especially where pmi is trading, on the other hand if they are short rdn, they might as well wait for earnings as rdn is grossly overpriced at its current level, the time to cover was a few weeks ago, though the window was very small, as a long though you gotta be nervous if the only support at these low levels is short covering.

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