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Selling some MBI

Rating: -1.50 (4 votes)    Vote: Terrible (-3)Worse (-2)Bad (-1)So-so (0)Good (+1)Better (+2)Best (+3)
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Placed a limit order to sell 800 (of 2,600) MBI at 60.50

It filled, slowly, at 60.74.

The market, and Financial Guaranty stocks in particular, was up very strongly due to the Fed's unexpected action in lowering the discount window rate. While I believe MBI will ultimately escape the sub-prime fallout without material damage, the stock has been very volatile. This reduces my position back from 100% of its planned size to 70%. I am well represented in Financials with the recent additions of Chubb (CB) and Cincinatti Financial (CINF). If MBI continues its yo yo action, I can always buy some more.

Friday August 17, 2007 : 10:05 AM

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