ABK and MBI are looking a little weak in pre market today thanks to the lower futures by Dell Computer. Dell completely below it last night missing by .05 cents per share.
http://daytradingstockblog.blogspot.com/2008/08/abk-mbi-hot-stocks-82808-ambac-mbia.html
Ambac and MBIA went up 35-40% yesterday so some profit taking is expected.
Support and Resistance Levels ( ABK ) & ( MBI )
MBIA - MBI has support around $15.50 - $15.70 area.....a break below this with some volume and $15 would be tested and possibly $14.40's could be tested....this was a solid support level 8/28/08. A close below $14.40 and you will need to bail....this would be a breakdown of the 8/28/08 trading action. Resistance will be yesterdays high of $16.29 and the close of $16.15.
Ambac - ABK has minor support in the $7.10-$7.16 area, then support at around $6.90. Ambac went straight up yesterday from about $6.05 to $6.40....then paused for a half hour, followed by the explosion to $6.90. Resistance will be yesterdays high of $7.58 and the close of $7.42.
Hope this helps!!
http://blackberrystocks.com
http://oilshalegas.com
Showing posts with label 8/28/08. Show all posts
Showing posts with label 8/28/08. Show all posts
Friday, August 29, 2008
Thursday, August 28, 2008
ABK, MBI Hot Stocks 8/28/08 Ambac, MBIA August 28th
On August 15th, I wrote about Ambac ( ABK ) when it was in the $5's. I stated it has resistance in the low $8's and it looks like we could test that by next week.
Ambac ( ABK ) and MBIA ( MBI ) are surging today after MBIA To Reinsure $184B Of FGIC's Municipal Bonds.
MBIA Inc. (MBI) said Wednesday it will reinsure a $184 billion portfolio of U.S. public finance bonds insured by the troubled Financial Guaranty Insurance Co.
The Armonk, N.Y., bond insurer will pay a ceding fee of about $197 million and will receive about $741 million in unearned premiums for reinsuring the municipal bonds.
Premiums are booked over the length of an insurance policy's coverage period, so an insurer would have earned only 50% of the premiums paid on a one-year policy six months into that coverage period.
The deal resulted from a competitive process overseen by the New York State Insurance Department, which must approve the specific details.
MBIA is up 34% to $16.05
Ambac is up 37.5% to $7.21
Ambac ( ABK ) and MBIA ( MBI ) are surging today after MBIA To Reinsure $184B Of FGIC's Municipal Bonds.
MBIA Inc. (MBI) said Wednesday it will reinsure a $184 billion portfolio of U.S. public finance bonds insured by the troubled Financial Guaranty Insurance Co.
The Armonk, N.Y., bond insurer will pay a ceding fee of about $197 million and will receive about $741 million in unearned premiums for reinsuring the municipal bonds.
Premiums are booked over the length of an insurance policy's coverage period, so an insurer would have earned only 50% of the premiums paid on a one-year policy six months into that coverage period.
The deal resulted from a competitive process overseen by the New York State Insurance Department, which must approve the specific details.
MBIA is up 34% to $16.05
Ambac is up 37.5% to $7.21
Subscribe to:
Posts (Atom)
