I'm guessing that the Wealth Management sale will be announced in the next couple of months. At or over $420M (approx book value) would be great, and would allow them to meet their stated deleveraging goals for 2013.
If we close over $10 today, it will be the first time since July 2011. We are way, way overdue.
The biggest one (catalyst) was hit today and will help some of you to understand both parts of the equation down the road, sometimes when stocks get hot everything else is an after thought, all the things that worried wall street disappear and they pump them up for the next 2 years LT once they think the page has turned.
Everything GNW is doing is better than expected, we have a "real" CEO and the best part outside the company is Genworth got the national spotlight with Barron's article and analyst upgrade. But what speaks volumes is that GNW will do 3X+- average volume over the last 3 months, we will close above 52 week high and that boils down to investor's paying a 100%+ stock price above the 2012 low on a day when the market if flat and its a value stock until $16.80 is hit. The big lift, institutions looking down the road understand the 3.80+- divideend that will go with increase in sp value price(2014)
So as you reference 2011, all T/A, money flow, etc is the best its been since 2011.
Today was a huge day for all us longs, we have large institutional support looking at value 2 years out to 2015, that is huge!
Once a 52 week is knocked out on a value stock, we have blue sky's on the charting pattern as the 52 week high, soon become the 52 week low.
Bumps along the way, but the biggest day in stock history in almost 3 years
Wouldn't surprise me if McInerney, seeing what RDN and MTG did and wanting to remain competitive with them, called GS to have them pump the stock and then do secondary so they could contribute more capital to the MI division.
First thing GS would do is plant a Barron's article, then follow quickly (same week?) with announced sale of wealth division at higher than expected price, all the while manipulating the stock higher, then SO at 16 or 17.