I sold my 1500 MTGE this morning and made about 6 cents per share.
Looking at the closing price though, glad I got rid of them.
Mainly just following up on what I said. If MBS prices take a dive, I'm selling the flip shares.
I sure as heck wasn't expecting that to happen this fast though.
I also probably should have just sold them when it got over 24.90
: - /
I think we will recover next week. MBS can't stay this cheap.. not with the fed there giving it support. This is a short term panic... and it will happen again later i'm sure.. in fact.. i think it will keep happening 1 or 2 times per year.. and increasing in frequency until the fed does back off... until they these lil blimps will rally back. Good for traders of MBS!