You may be absolutely right to buy at $3.80, which I expect you will see in the next day or so. Look at the general trend in the last week, though, and you see a $.45 drop since last Friday. Why is it irrational to expect that volatile stock like URE could drop back to where it was a few weeks ago, if not lower? Have I missed some cataclysmic event in the REIT market that says that things are much better than they were a month ago? The only thing that has happened lately is that yields are beginning to climb, forcing mortgage rates higher. The real estate market is in the doldrums. FYI, I'm not shorting the stock, I'm just waiting for it to drop to a more reasonable level before I get back in.
Saw my order filled at $3.13 and bought more at $3.02. S & P didn't quite make it back up to 1000, did it? Now it's a question of how low URE will fall before it starts rising again. IMO it will go lower (maybe $2.50), but then positive news releases about stablization programs will start money flow back into beat down REITs. I'm buying more at $2.50 if it makes it that low. My magic 8-ball and weegee board tell me we'll see $4 before we fall to $2.
Ha Ha! So, one week later and we're hitting $3.35... probably $3.31 in the next hour or so. Good thing I lowered my buy order to $3.13. Looks like I'd better reevaluate and lower it even further. Anticipated this drop after ex-div, not before.