Good morning campers. Discount rate cut 50 basis points, and away we go. INtereseting that they did it now, after the 10% correction - either they wanted to let the brokers take some pain, or things are worse than we thought.
Mortgage/S&L: CFC +19%, IMH +19%, FMT +17%, NFI +16%, DFC +14%, IMB +14%, LEND +12%, WM +6.8%, FED +5%, CCRT +4.4%, FNM +2.1%, HBC +1.8%.... Mortgage Insurance: RDN +8.5% MTG +7.2%, GNW +1%; Mortgage REITs: LUM +50%, TMA +24%, IMH +19%, NFI +16%, RAS +15%, DFC +14%, AFN +12%, RWT +4.9%, NCT +4.4%, NLY +3.3%, SFI +2.5%.
RARE getting bought out, 35% premium
Some stocks that were down before the rate cut, and could see the first downticks if we back off: MT, WPPGY, CSG, BAY, ASML, CCL
ITRN, KNSY, TSL, LOW, SOLF have earnings monday morning.
Go get em!
Good Call. We could be down today too...
Posted by: Big Doggy | Friday, August 17, 2007 at 09:01 AM
Time to buy puts now that we are up 250??
alot of people getting hurt on options expiration day.
I don't think we hold up almost 300, up 150 seems more likely.
Posted by: Ethan | Friday, August 17, 2007 at 08:34 AM