A little churn going on today, as some people try to reposition themselves going into earnings.
I managed to pick up some sub $6.40 shares this morning, but there are not enough people willing to short into a positive earnings report, with imminent dividend announcement (15 trading days away), or longs being stopped out to really get a bargain today.
At 2:00, 3:00, and again at 3:30 Eastern, we should start to see some buying into today's earnings report.
We should close at $6.50 or higher (we opened at $6.51)! Even at $6.50, we are getting a 15% dividend, with a year's visibility from the analyst at FBR - how cool is that?