Bailed-out BIGNO Part II - AIG, FNM, FRE, CIT Surge Again!
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Bailed out stocks are surging for the second straight session: American International Group, Inc. (NYSE: AIG) +26%, Fannie Mae (NYSE: FNM) +21%, Freddie Mac (NYSE: FRE) +17%, CIT Group, Inc. (NYSE: CIT) +30%
Yesterday's moves: AIG +63%, FNM +30%, FRE +31%, CIT 38%.
The moves could be related to better-than-expected results from mortgage/bond insurers Radian Group (NYSE: RDN) and MBIA Inc. (NYSE: MBI) yesterday. Also these are heavily shorted stocks - the squeeze is on!
Yesterday's moves: AIG +63%, FNM +30%, FRE +31%, CIT 38%.
The moves could be related to better-than-expected results from mortgage/bond insurers Radian Group (NYSE: RDN) and MBIA Inc. (NYSE: MBI) yesterday. Also these are heavily shorted stocks - the squeeze is on!
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