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PMI Group Inc. Message Board

  • paidbasher38291 paidbasher38291 Dec 22, 2009 10:54 AM Flag

    what a gift

    just got my short in at rdn over $7, what a christmas gift for me.

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    • The report said that median home prices were up from Oct., too. The bottom in housing is in the past. Good news!

    • all that long stuff you would better reduce into two words only:
      Booohoooo boooohooo

    • PLEASE tell me how existing home sales help the mis, you do realize what the mis do, don't you, they insure mortgages against defaults, so the two single most important issues for mis are house prices and unemployment, and house prices are declining again as per the index the Fed uses, and unemployment is over 10% and expected to rise, new unemployment claims have risen in recent weeks, so how is the level of activity in existing homes helpful to the mis, as i said, a huge spike in existing home sales could be a death knell for the mis if it meant losses were being liquidated, one of the things that has helped the mis is the delay in recognizing losses, meaning they got to keep their investment portfolios and earn interest on them for a bit longer, so in that way they would be helped by a slowdown in existing home sales if it meant losses were delayed, but whatever, please keep buying at these levels, if this ever gets up to $4 again it will give me a good chance to short again.

    • You're getting your Christmas nuts crushed.

      • 1 Reply to onlysomeguy
      • yawn, wake me up after earnings, rdn could go to 12 again for all i care, i can ride it out, it is worth nothing, last time i shorted rdn it was around 10, it rode up to 12, was totally not worried, because it is worthless, this is nothing but a short squeeze because some stupid shorts don't know how to trade these names, notice the lower reaction in pmi vs rdn even though anyone doing a real analysis of these companies would know that is a lot of ways pmi is actually in better shape than rdn, the lower reaction is because whoever was short pmi was smarter, they were covering their position slowly over the past few weeks, whereas the rdn and mtg shorts were dumb and did not take advantage of the situation, as i have said many times, staying short in between earnings releases is suicide, because with the lack of news these managements can and will say anything, but going into earnings, especially year-end earnings that need to be audited, that is an entirely different matter, they may fudge their reserve numbers, but they can't hide the underlying decay in their businesses, namely delinquencies continue to rise, and their in force business continues to fall, a lethal combo, enjoy the short squeeze while it lasts, because the end of the year is fast approaching.

    • Your Christmas gift to the rest of us could be leaving this board forever.