IMH ready to run again

[chinaman711]

Needs to get thru 1.21 look for a short squeeze as 26% of the float is short.

[RayRay180]

Thanks Cman....hope so, been holding onto a few shares for a little while.

Do you have a target/exit price?

[Hondaboy]

hit 1.18 today

overall great day fot alot of people

[chinaman711]

Im looking for 1.60 again on IMH if it gets thru 1.21. Watch for volume to come in and a short squeeze. NOVS will be a better short squeeze as there are less then 10 mil shares outstanding. Mortgage Volume Spikes on Refinancing
Wednesday March 26, 7:28 am ET
Mortgage Volume Jumped During Week Ending March 21 As Refinancing Activity Surged


WASHINGTON (AP) -- Mortgage application volume rose 48.1 percent during the week ending March 21 compared with the previous week, according to the trade group Mortgage Bankers Association's weekly survey.
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The MBA's application index increased to 965.9 from 652 the previous week.

Volume surged on an 82.2 percent increase in refinance application volume during the week. Purchase volume increased 10.6 percent.

Refinance applications accounted for 62 percent of all applications, after dipping below 50 percent last week for the first time all year. The refinance share of mortgage activity is at its highest since the week ending Feb. 8 when it accounted for 67.4 percent of mortgage activity.

The index peaked at 1,856.7 during the week ending May 30, 2003, at the height of the housing boom.

An index value of 100 is equal to the application volume on March 16, 1990, the first week the MBA tracked application volume. A reading of 965.9 means mortgage application activity is 9.659 times higher than it was when the MBA began tracking the data.

The survey provides a snapshot of mortgage lending activity among mortgage bankers, commercial banks and thrifts. It covers about 50 percent of all residential retail mortgage originations each week.

Application volume surged as fixed-rate mortgage interest rates declined. The average rate for traditional, 30-year fixed-rate mortgages sank to 5.74 percent from 5.98 percent. The average rate for 15-year fixed-rate mortgages, often a popular option for refinancing a loan, declined to 5.23 percent from 5.24 percent.

The average rate for one-year adjustable-rate mortgages continued to climb, rising to 7.02 percent from 6.99 percent.

[chinaman711]

Got my 1.60 in pre market and it hit 1.78 in pre on last nights news. Loaded back up on this dip to 1.30. Look for 1.60 again