NLY officially reported the volume to be 38,017,018 in their daily email alert. As soon as the shorts pushed us under $10, it triggered massive computer sales transactions. There will be plenty of buyers in the a.m. that missed the boat during the capitulation, which should take the price higher. That action will likely be followed by a quick retracement and they hopefully upward momentum. JMHO!
We are seeing an after hours bounce, tomorrow will give us a better feel for the sell off. IMO we are not there yet, IMO all those IRA's and Roth's most likely were set to sell if NLY moved into single digits. This was likely set by their financial advisor some time ago, but before those retail investors could change the sell orders, they were taken away by high powered active traders. I do not think this was institutions, but likely large retail income seeking investors. I bet that some shorts covered at the 9.80's which would explain the after hours bounce.
I do and I have been waiting for this capitulation action. Unfortunately I thought the price would go a bit lower and didn't get filled. I have a very large position however, so I was just looking to add during the actual capitulation process. I still may add in the a.m. Good Luck!