we will not jump to 4 or 5 just by tomorrow. I know that. But I spend a time and do searching for undervalued stocks with good story of growth ahead. MTG is the case. I have also experience with insurance stocks in 2009-2010. They were coming back to their highs very steeply. GNW, MTG, CNO. I was grasshopping them too that time. Could earn much more money that time. Now I am easy. The situation on the housing market is much better than in 2009 or 2010. So the PPS will be supported not only by hope, but also by numbers now. That is huge difference.
Lot of people especially in funds remember the 2009-2010 story as well. After yesterday's movement they all will refresh those memories.
Look on this chart. http://finance.yahoo.com/q/bc?s=MTG&t=5y&l=off&z=l&q=l&c= You see how steeply it climbs back? Problem of MTG that time was either banktrupcy or huge gain. Now the fear of bankruptcy has gone. That is why I expect this stock will climb again really fast and high. Of course witzh some corrections but trend down it can only with fear of bankruptcy again. If I see that fear again, I am ready to jump off. Otherwise I hold with the belief that this stock will run back where it belongs. And that run might be fast. I think first major correction should not come before 5.00 We will see... :)
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