4% off yesterday's close is at 25.50.
I think that is my target.
Make it 25.52.
After trading like gang-busters earlier today MTGE slowed to a pace to settle in at 17,000,000 shares traded today.
Of course, not all are spo shares.
I do not think the spo is finished.
I might only buy 1/3 at 25.52.
mark-tomarket Mortgages have fallen in value since January 01, 2013. Look at the graphs to see that they have fallen (106..105..104) a couple of percent in value, so then Book value is not $25.74, but somewhare near $25.25 to $25.40. Therefore, my point is that they may be selling new shares (SPO) ABOVE book value here after all.