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I can't draw a line on RMBS that provides any meaningful trend support over 11.00.

Unfortunately, it broke support on a closing basis yesterday. Volume wasn't anything special, so I don't know if this is just drifting around waiting for something to move on or not.

50-day crossed below the 200-day in early May and until that turns up in some way, it's probably not worth considering on the long side. In fact, from a technical standpoint, a decent argument can be made to short it here, or into any strength up to $20.50.



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