Jim Cramer's Mortgage Index - Mad Money Index

Jim Cramer came up with his Mad Money Mortgage Index. It is comprised of 12 stocks. He will be watching these 12 stocks for signs that the "mortgage madness" is over. Jim Cramer says that once this index stabilizes (he does not define how this will be measured), and Bernanke cuts rates, that "we will be in the clear". Let's see how these Monthly charts currently look today, and let's see if Cramer can identify when the index has "stabilized".

1. MTG - MGIC Investment Corp.


2. CFC - Countrywide Financial Corporation


3. BSC - The Bear Stearns Company Inc.


4. KBH - KB Homes


5. CTX - Centex Corporation


6. MBIA - MBIA Inc.


7. BX - The Blackstone Group L.P.


8. TMA - Thornburg Mortgage, Inc.


9. BZH - Beazer Homes USA, Inc.


10. WM - Washington Mutual


11. GS - Goldman Sachs Group, Inc.


12. C - Citigroup Inc.


All these charts show sell signals. Since the sell signal is off a longer timeframe, I would expect that the sell signal signals an important top, and that we will retrace a larger range. Will use the weekly and daily charts to watch for significant bottoms to form.