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Strategies & Market Trends : Thornburg Mortgage (TMA) -- Ignore unavailable to you. Want to Upgrade?

To: Patrick J. Saunders who wrote (18)	1/16/1999 7:48:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 51

Pat; I've been in and out of TMA twice, since I first posted on a Yahoo thread. I don't want any thing else to do with mortgage CEFs unless they get dirt cheap to have lost 80% of their original value and be selling at less than half their so called book value. TMA may well go on up, and looks like she is doing so then again the other shoe may drop, she never has taken the big hit that most of them have. I'm sitting on another one now that I had to average down on like crazy because they took her out behind the wood shed after hours and clipped another 50% off her. I'll keep an eye on TMA, if she goes back down I may try her again. This sector got hit hard, and like the oil sector it may not be over yet. Any more rate cuts by Greemspam and we could see more pain to these mortgage companies. Jim