I think the rate cut more than unlikely; having said that, I would look at the mortgage insurance names ( I have one in mind but I'll keep that to myself) that have sold off near 50 percent in the last month, but yet have little to no exposure to anything under A paper. NOT ALT-A exposure. That is my play on that news. Don't say I never gave you anything...
I am going to buy some stocks....I'm going to short some stocks, and hopefully make a few bucks. That's my plan!