The market is in an atmosphere of panic that embraces many REITS - notable NYMT and AGNC and will likely continure until the issues surrounding the fiscal cliff are resolved. To buy, sell, or sit tight depends on whether you are a sissy, crazy brave, or unable to decide.
I am holding to see if the dividend is going to be reduced. Also, the stock is trading below B/V. I have seen these dives with NYMT before and I don't think the company is going to blow up but I am kicking myself for buying another 1000 shares this A.M on what I thought was weakness. I am way up for the year on NYMT but every day those gains get eaten up. Might be time to take my lumps @ $6.00 if it goes down that far. Lot's of selling in this sector. Hit a home run on CXS this morning and gave some of it back today with NYMT. The dividend is safe and the strategy on multi-family housing looks attractive. Could be shorts are covering before announcement of dividend???