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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Sal D who wrote (1567)	3/8/1998 11:13:00 PM
From: Sergio H	Read Replies (1) \| Respond to of 29382

Joe, in early Feb. CCR hit a new high and tailed off from there. It has reversed the trend and is moving up again. Hey, am I doing TA here? It looks like the reason for the downtrend was the shelf offering of assets. Take a look at the news release below. Also, the reason why I suggested that you take a look at the percentage of business that is new mortgages as opposed to refinances is because the interest rates moved up last week. People are probably going to wait for refinances while new purchases are going at a good steady clip . WASHINGTON, Feb 9 (Reuters) - CWMBS Inc, a unit of Countrywide Credit Industries Inc, filed Monday with the U.S. Securities and Exchange Commission to register a shelf offering of up to $6.37 billion in mortgage pass-through certificates. The certificates will represent an interest in a trust consisting of mortgage-related assets, including first lien mortgages secured by one to four-family properties or mortgage pass-through securities issued or guaranteed by government sponsored enterprises. No underwriters were named in the shelf offering, which includes previously registered securities. 347-3853, washington.newsroom@reuters.com) Sergio