Thursday, April 12, 2007


If MTG had tumbled, I would have said that I expected that. But I also said (in my honest, cannot benefit from hindsight post) that I had a short position (via puts) but that MTG had held up so strongly, that I closed my position. The green line above is $56.39. That was previous support. It may prove to be current resistance.

I don't really count aftermarket activity on stocks such as this, because after market is a netherworld. You can see that MTG tanked down to $53, but quickly regained. I do not know what will happen with this stock. I don't think that there is much upside, and we may very well see it drift down.

My sold puts would have gained just a bit. What's interesting is that when the stock is all in a muddle in the a.m. like this one is, you cannot get a bid/ask on options. I don't know the reason for that

Anyway, the promised followup. Not much insight. I think that they are having their conference call now. I may listen and see how the stock reacts.

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