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Thursday, April 20, 2006


Removing RMBS Sell from Coverage

As we expected, RMBS got a sell the news reaction from its case with Hynix. However, the selloff we expected actually came before the actual verdict, with RMBS selling off sharply today as low as 29.52, down over 36% on the day. Although, if it rallies back strongly from this selloff, RMBS could again get a sell the news reaction when the verdict news comes out, we're removing our RMBS sell call from coverage after today's sizable decline.

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