For the past year this staid conservative stock has attracted some savvy traders who have pushed this stock up and down at their will, making a lot of money. Today's trading activity shows this pattern as a perfect example. There is no reason at all for such a drop considering a rather positive earnings report. When you consider the terrible net interest spread between the 2 and 10 year treasuries for the past couple of years the report today from NYB is exceptionally good and will get even better as the NIM
increases. Please advise if you agree or disagree with my opinion.
I daytrade [short term trade] stock that I have large long term positions in. For instance I bought nyb today at 14. I will sell for .30 gain . If I don't get it ,I don't mind owning the additional shares.
It is the source of income that analysts do not like.31.5 mil from prepayment penalties is not a steady income.What will happen when this is gone?( Long and hopping no dividend cuts for my 6000 shares)