That was bound to happen, as it has way way way outperformed peers in the past 3 months. It actually really started to rip higher on October 15th of all days; maybe on some reuters headline that it withdrew a SPO (that we all knew wasn't going to happen in the first place). Either way, it's a rounding error.
I suppose one thing that could push people to 'reprice' is a repricing of payups (prepayment protected securities over generic).. I don't know, I didn't check. This market needs a punch in the face,... or better yet, a curb stomping. Especially aapl.. which is basically now the QQQ. Today MSFT overtook XOM in mkt cap.. So num 1 and 2 in QQQ have a combined val of 1 trillion.. Way to reward bad behavior (Windows 8).. It's pretty much official.. it is now more cost efficient to actually eat paper dollars than it is to buy a salad, especially if it has bacon on it.
i just bought 25,000 shares at $17.84 today (buy average) I have no other positions in my account. Total holdings : 25,000 CHMI. Do have cash balance as well.. but only stock long is CHMI. My last sales of CHMI were in the 18.80 to $18.90 range. Then i'm back in now at $17.84 .. way oversold.
so far really good. Just held 3 weeks and it ran from 25.14 to 25. 63 (41 cent div included). another dime and Im out, the other 2 are staying.
THATS LIKE 25.65 OR SO WITH THE DIVI RIGHT
FIRST ONE WAS A LITTLE MORE WITH A PARITAL RIGHT??
SO FAR SO GOOD
BUT TLT ROLLING OVER A BIT SO CAREFUL WITH TAHT IF IT CONTINUES
yes, ex-div the 12th.......................proving to be a good trade for all 3 of us.
ABR ended dividends in Q4 '08 and resumed in May '12. Since then, they raised dividends 4 times. You consider that not making a comeback?
Why invest in a company that blew up in 2008 meltdown and never came back? Sounds like a terrible idea to me. Management proved itself to be a complete failure. I don't think it's a cheap stock at all. I wouldn't buy it at 30c on the dollar. Other non-agency mortgage reits like EFC's management didn't #$%$ up.
yeah. 5yr is down (in yield) pretty big.. a flattener unwind during a rally in rates? I don't know.. It's possible it could be short-bus kids looking at the data today and throwing out that party line.. "YAY LOWER FOR LONGER". #$%$, I hope not.
I bought more WMC today at 14.66. I'm a happy camper..
mbs up 1.5 pts some of these mreits might be up 5 to 10% unless they second guessed themselves.
they have 5 to 10% to run I think
im net long
I did.. but only because I have a position in wac already.. Did the whole hot potato thing and shed some off at 17.58.. just trying to whittle down the cost basis and take advantage of high implied volatility.. I was short calls before this.. obviously I had to roll down to lower strikes.
I sold puts on NSM.. 26 strike for .58c and 27 strike for .. ? wait. I guess I didn't sell the 27 strike.. I sold the 29 call for 80c.. a derpa der.. These servicers get zero slack.. poor things.
they outperformed both OCN and WAC in the past few months.. by a large amount. Nice little hedge fund hotel getting an eviction notice. I own it.. but I own it lower (26).. I had sold calls on it.. so ok cool..
I am now the largest non-institutional shareholder of WMC tho. for sure