Weak hands fold..this is ying/yang of the market..what stock typically continues upward more than 7 days without retreating, profits taken, shorts exhausted?
Look @ the history of this stock,it has NEVER had more than a seven day run pre- EX..(last time Dec '09). Why would it now? We'll be close to 30-31 by the end of Thursday is my bet ...but hey, it's the market and the BIG question is... who really knows?
It was the first time I thought about the daily actions of AGNC. I did think yesterday was over exurberant.
I still think today's market, concerns about the price of AGNC and concerns about the MREITs (HTS) will keep a lid on it. I think the bigger players were selling today and I think if it moves up you will see more selling. Would you buy it at $30? $31 is an amazing number, but you said it yourself. The market is the number.
Last quarter it traded for three or four days at $28.30 - $28.40 and then made a last minute move to $28.97, so £30 just sounds right. Anyway, I was a wimp and sold out at $28.50.
Don't forget NLY reports tonight or tomorrow night, and if they give some bad news, it will just put a bit more fuel on the fire.