@Tommy241
This stock is a big question mark and if this a big percentage of your overall stock portfolio than I would seriously think about trimming it down but keep a small amount for the unexpected. Last week was a pump and dump scheme arranged by the market makers so we really don´t have any big direction where this will finally end.
I have been with this stock for too long to just give up and sell but this is a very small percentage of my overall portfolio, I only have 66.000 shares so it does not matter for me if I lose it all. I have made up the loss with my RDN gains so I am not too frustrated with the performance of this one stock.
What I am betting on is the following:
PMI group will live on, they will sell all assets and operations related to Arizona. They will start writing new insurance through another subsidiary probably MIC which they currently own. They will submit a REORG plan which will include a new investor which will inject new capital to the company for equity stake. We will have two court hearings which will give up some in sighed, first on March 15th and than if I remember correctly on March 28th.
Arch wants to start operating the MI business in the 3 or 4 quarter 2013 and they expect to fully run their MI business in 2014. So I think this matter is going to get resolved this year but this proceeding could take some time and in the meantime the stock price could swing up and down.