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MGIC (MTG +10.6%) leads mortgage insurers higher after the Treasury issues its report calling...

MGIC (MTG +10.6%) leads mortgage insurers higher after the Treasury issues its report calling for winding down the role of government-backed competitors. Also: RDN +12.3%, PMI +6.1%, MBI +3%. Shares of big banks are mixed: JPM +0.8%, BAC +0.2%, WFC +0.1%, C -0.2%, USB -0.3%. GSEs: FNMA.OB -10.9%, FMCC.OB -10.3%.
Comments (2)
  • Duude
    , contributor
    Comments (3379) | Send Message
     
    Really no logical reason for mortgage insurers to rise. The length of time before Fannie and Freddie wind down is likely so lengthy as to make it unlikely anything changes at all. Any big rise on this nothing story is best capitalized on with a short term put play.
    11 Feb 2011, 10:28 AM Reply Like
  • OptionManiac
    , contributor
    Comments (3340) | Send Message
     
    Really - investing on a whim always came back to bite me in the pants.
    11 Feb 2011, 10:38 AM Reply Like
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