"MM's trying to shake out the weak hands. Buying the dips."
That's way too lame an explanation. I see that thoughtless comment all the time on the boards and it's just not a valid argument. It isn't the MMs shaking out weak hands when the volume is 4 times the normal 20-day volume. Investors got frightened for one reason or another and are dumping their shares.
The Stockcharts 1-year chart isnt going to help much to explain today's trading. I'm not going to try to fool with stockcharts to show a one-day chart but suffice it to say that at 10AM 60m shares traded, then around 11am 110m traded and then right after 11am another 50m traded. These 3 trades pulled the rug out from under the stk - the last one at 25.70 +/-.
AGNC was doing OK until about 11AM and it, too, got whacked; 25m, 30m, 30m, 105m, 50m share downticks.
This is second day in row that Bernanke has intimated or worse that he is looking for ways to raise rates by draining mkt reserves.
I've been a buyer today. Just too good a price to pass up. Thanks to who ever for selling. Amazing. Same deal happened with NLY and MFA. Should be no problems with HTS earnings report that is coming out or next 3 quarters as well.