We got lucky with the timing on that CFC short cover yesterday. The stock's up 3 points since then.
The big news is this, that regulators may relax restrictions on Fannie Mae and Freddie Mac, allowing them to swoop in and buy huge quantities of mortgages at fire sale prices. There would suddenly be a big buyer where there has been no buyer. This could be the bottom in the mortgage-backed market.
I'm out of all shorts and fully invested in foreign and domestic stocks and commodities.
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