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richierichstl

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richierichstl

Re: irishintelligence post# 7937

Friday, 03/24/2017 1:16:52 AM

Friday, March 24, 2017 1:16:52 AM

Post# of 11618
MBIA's technicals looks bad. It has tanked on a head n shoulders chart pattern, trading below the 50 and 200-day moving averages. It looks like it is trying to bounce off support at about 8. I'd wait until it forms a proper base pattern and breaks out on strong volume. It trades at about the same ratio as Syncora in terms of price to book. Denny had said PREPA is its main PR exposure, and PREPA deal is in flux. He also mentioned that PREPA hearing started yesterday.
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