I think your 60 target for MCP is about right, which is a nice move from here. But on a percentage basis, I think the smaller rees will do better - they were beaten up worse & it is small cap season after all. I also own FNC & BMK - I recently sold my NOT on the spike up (a little too soon).

I think an Israel-Iran war is unlikely anytime soon. Iran wouldn't start it, because they have virtually no military compared to Israel - Israel actually has nukes and the capability to deliver them. And unlike Iraq many years ago, and Syria, Iran's nuclear centrifuges are spread out over a large number of underground sites. No quick easy bombing raids would seriously impact Iran's nuclear program. Even if Israel wanted to engage in massive bombing raids, Obama would find a way to stop or at least stall them until after the 2012 election, because oil & gasoline prices would go through the roof and kill Obama's re-election prospects.