I was watching it, but didn't buy because AGNC was down like 5% and we were only down 2-3% when we hit 7.22-25 area..If you were a smart trader looking around the entire REIT sector then you werent buying at those lows..it was a pure gamble if you did because it looked like we were going to 7 based on AGNC and NLY's moves at the time..
ANYWAYS, according my hedge fund trader friend who knew that there was no news or reason and did buy at 7.25 once ARR stabilized a little..said that for some reason some fat cat whale somewhere must have sold out of a large position in AGNC and then the rest of the sector followed..similar to what happened to ARR about a week ago when some jerkoff sold like 2 million shares at market all at once and caused a .2 cent drop in 2 minutes
I agree, this is another "flash crash" that happened with the sector. AGNC was down about 15% this morning then recovered slowly. It's still down today. NLY is also down. I think ARR was spared because it was already down from the recent SPO.
It still amazes me how manipulated this market it. We are just small fish swimming with the sharks.