Mortgage Finance Stocks Break Down

Last Wednesday I commented that the Mortgage Finance stocks looked heavy and that a move down was likely, well that's exactly what we are seeing take place right now.

Over the past few days the MFX index has fallen and is approaching the year low. I think we'll see further weakness in this group of stocks as money continues to leave. How much lower lower will these stocks go down? I don't know but I have a few of them short. We'll see what happens.