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Resource Capital Corp. Message Board

  • kenpalley2000 kenpalley2000 Jul 3, 2013 10:46 AM Flag

    Mystery drop

    Lots of market volatility to be sure but nothing that I have read justifies a 2% drop today. Anybody hear any bad news? I I weren't already over my position limit I'd definitely be a buyer at this level. GLL


    Sentiment: Buy

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    • ken...
      I couldn't resist and bought today. It was just one of those days, light volume, a couple of big sell orders, and essentially just a lack of buyers. Not that unusual given the volatility of the market during the past couple of weeks, the holiday week and the shorten trading day.
      What we need is a reason to move higher and I think that the next quarterly report will give us that, but in the meantime, we will be up, and we will be down. Great for trading but not for investing. So I just focus on the dividend and try to not pay too much attention to price but at these levels, a person will wish they had bought more in a month or two.
      Wishing you the best

      • 1 Reply to lunco
      • Lunco,
        Pretty much as I imagined but thought maybe I was missing some bad news. Good timing on the buy, you get the divvie and can easily make another $.25- $.50/share over the next few weeks. If not flipping it is a good price to get that 13% yield. I have around 10K shares which is all my portfolio can manage at this point but I have to admit to being tempted. GLL


        Sentiment: Buy

    • Extremely light trading day with the market closing early. Look at the action today and there were a few bigger transactions close to the bottom and another about $.08 higher a while later. I would say that today is a few traders taking advantage of the light volume to score some shares and make some quick dollars.

    • Anytime there is a big bru-haha, like the uprising in Egypt, the market always drops. Also, the div is due to be paid on the 25th., and some people prefer to take profits and bypass the div. Others have let the rise in interest rates frighten them off buying or holding. Day traders like to play with low-priced stocks. There are many reasons for a stock to fall.

      If I own stock in a good company, I always use that time to buy more. This is a very solid BDC that invests in commercial real estate, not residential. I feel like this stock will come close to doubling within the next year, after it becomes clearer how Obamacare will effect businesses and the job market.

      Sentiment: Buy

4.83-0.030(-0.62%)Jan 30 4:06 PMEST

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