Sunday, March 28, 2010

Keep an eye on the mortgage insurers - MTG, RDN, PMI

The mortgage insurers saw some nice action at the end of last week thanks to some good news, first from Bank of America on Thursday and some more bailout for the homeowners from the government on Friday. All three of these stocks - MTG, RDN and PMI - are at very crucial levels and have the potential to run up huge here. I am posting both the daily and weekly charts for them below. I would recommend keeping an eye on the crucial levels next week.

MTG - Crucial level - 10. Closed right above it.

RDN - Crucial level -15.

PMI - Nice gap up last week on very high volume. Crucial level - 5.

Take care and good luck!

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