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To: straight life who wrote (109074)	7/10/2012 1:29:35 PM
From: KyrosL	Respond to of 118717

CIM has always been a quick trade for me. Whenever the discount approaches double digits, a bounce in usually close. However, this time may be different. The reason is that some of CIM's holdings are RMBS not guaranteed by the US. I suspect that housing is hitting bottom in the US. This will probably revive old RMBS, which have lost a lot of their value of the last few years -- reflected in CIM's NAV. CIMs problem is that it was too early buying those mortgages. Hence its rapid drop of NAV and dividends in the last few years. Right now I think it's a play on a housing bottom.