Lum , Imh

[AnthonyHib]

bought lum at 1.95 yesterday

and imh at 1.72 , atleast if both moves 50 to 70 cents on any news today , i will just sell it off

imh at 1.74 now,

else hold it till tuesday 18th

[Anthonyfamy]

Chinaman , you always have suggested good stocks, its just that my luck , whenever i jump on this , it always seems to go down, am yet to make my first gains in stocks , since june . So may be i will hold this lum , imh , dfc till tuesday and sell off even i there is movement of 50 cents upward.

[Antanykki]

You have to be quick with these mortgage stocks and get in and out fast. L/T who knows, maybe it just might be best to hold these cheap stocks and look at them 2 years from now. See which 1 puts out news tomorrow and jump in when the news hits. Good luck

[admin]

Investors expect the Federal Reserve will cut its target for interest rates on overnight bank loans to 5 percent from the current 5.25 percent, Miller said.

Miller said cutting rates will strengthen lenders' profit margins, but will not fix the fundamental problem that led to the drainage of cash in the first place: sinking home values.

With the housing market in a protracted slowdown, investment banks this year grew skittish about putting money into mortgages. No matter what it does with interest rates, Miller said the Fed cannot rescue slipping home prices. As long as investors have no faith in housing, they will not finance mortgages, he said.

The mortgage industry needs $150 billion to $250 billion in cash to stabilize, he estimated. He does not think an interest rate cut will attract that money.