PMI Group Inc. (PMIR)

[sterlingkuning]

It could be retail - someone who bought at .23 to .25, selling for a 100k profit.
Or it could be an institution lessening their load, we don't know. Though it was getting bought up throughout the day.

The future circumstances for PMI are uncertain obviously, but there is a chance that they will come to an arrangement with the regulators and/or PMAC will be approved to take over writing new business.
The situation is complex and fluid. Bankruptcy was never outright mentioned.
Bad earnings, uncertain future, all in a bad market with huge short interest = big selloff

IF they come up with any positive news/agreement, then PMI will shoot to $1.20+ very quickly.
Remember, there are only 161million shares out there, and at this price, the market cap is around 50m.

Capital Initiatives
The Company is exploring alternatives that, if successful, could provide capital or capital relief to MIC or capital to other subsidiaries so that they may replace MIC as our primary writer of new insurance. Such alternatives include the restructuring of MIC's primary insurance portfolio, debt or equity offerings by our insurance subsidiaries or holding company, and reinsurance. The Company may not be able to consummate any capital raising or capital relief transactions on favorable terms, in a timely manner or at all.
Liquidity and Tax Information as of June 30, 2011
On a consolidated basis, the Company had available funds, consisting of cash and cash equivalents and investments of $2.9 billion and total shareholders' equity of $190.5 million.
MIC had available funds, consisting of cash and cash equivalents and investments, of $2.3 billion and total assets in captive trust accounts of approximately $635 million.
At the holding company level, The PMI Group, Inc. had available cash and cash equivalents and investments of $69.7 million.
As of June 30, 2011, the Company's net deferred tax asset was $44.8 million compared to $143.8 million as of March 31, 2011. The valuation allowance for the deferred tax asset as of June 30, 2011 was $688.9 million compared to $578.9 million as of March 31, 2011.