WMC dropped off a cliff in the last hour of trading. What the h happened???
Sentiment: Strong Buy
Hope it stays here till next Tues. I'll buy more at 16.10 with my dividend :)
Guess Yahoo censored all the posts that hurt your feelings
Ugly news from Capstead (CMO) would be my guess
CMO heavily invested in ARMs (really dumb strategy that bit hard when rates came back down, and hurt from prepayments when the rates were going higher, i.e., lose lose investment model).
Expect that WMC was ripe for profit taking given its pop after the Fed decided not to taper.
However, WMC's remaining very high yield, backed by earnings and restored BV, traslates to continued price appreciation.