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Resource Capital Corp. Message Board

  • justmeinnh2 justmeinnh2 Jul 21, 2010 5:01 PM Flag

    Feeling pretty lucky

    that I was able to get into this stock so cheaply, and although
    the price drop was good for me, does anyone have any idea as to
    why it lost so much today? I can't seem to find any reason...

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    • Just-mein & Ex-div...No I am referring to "all markets" including REIT's (except oil, corn & soybeans)....I have been investing over 45 years and most of the time most of the markets will trail down from August until November...! Even a good holding (including RSO) with good color can be pulled down by a bear market...! Has anybody ever heard of "Bloody October"...? i.e. Are we not in a "Mid-Summer Rally" at this time (which 8 out of 10 years is a typical trend)...? I am stair stepping up my stop loss orders at this time (if I am wrong I lose nothing)...! For the record, I like a little Jim Beam on the rocks not White Mule...! Good luck to all...!

    • With the exception of Bernanke's statement...

      But looking at the chart, it was sliding down in the first 40 minutes after the market opened. Bernanke didn't speak till 2:00pm, so that couldn't have been it.
      Around 12:40pm, we started another downward trend, leveled off and did some side
      ways trading and around 2:00pm, headed down further with a couple of little pops.
      Pre-market was normal... Maybe we were just tracking the index's? If so, does this stock track the index's on a regular basis?

      • 3 Replies to justmeinnh2
      • justme..,
        In support of what you said I saw this somewhere this AM.

        "Yesterday they would have you believe that Ben Bernanke caused a sell-off. How ridiculous is that? He didn’t say one thing that he didn’t already say in the Fed Minutes that were released on the 14th, which were the notes from the meeting of June 23rd so for analysts to get on TV and say "the markets were concerned by the Chairman’s comments" is beyond stupid - it’s criminal negligence."

      • Justme...
        More sellers than buyers is the easy answer to why the stock went down. It does tend to move with the S&P 500 unless there is a reason not to do so. Today was, IMHO, a response to the market in general. What was interesting to me was the pick-up in volume during the last hour or so and that it closed at $5.50. (I think that it will find some continued support at $5.50 (plus or minus a few cents). I suspect RSO will continue to Churn for a another few days with the stock price increasing next week as we approach the earnings announcement. Of course, I am usually wrong about as often as I am right and every time I buy there is always a seller who is also probably as wrong as often as they are right. So, what I am trying to say in clever way is that unless there is specific news, the price can go up and it can go down and I don't think that there is anyone who can accurately and consistently predict the movement on any given day. The best I can do is determine what the stock is worth to me and act accordingly. For me, RSO is a buy at an 18% yield and if it isn't worth that to someone else who decides to sell it, that is their decision and I try not to let it affect mine.

      • I should say I am talking about after a partial fill.alf

12.15+0.20(+1.67%)12:51 PMEDT