It's about time there is some weakness showing. NCT algos chasing out stops as usual. Looking forward at seeing the buy the morning program and sell the close algo.
As for that nothing has changed fundamentally and the KBW downgrade without any teeth behind it only shows their disappointment with the spin off. Or their #$%$ because they have not been included in the last couple underwriting deals.
Hana, the market is showing a surprising lack of confidence in a proven NCT management team that has delivered on all of its promises over the last 4 years. I welcome the opportunity to buy more NCT shares on weakness. I'm hoping NCT gets bashed even more, as I'd love nothing better than to be able to buy more shares at even lower prices. With Ken Riis and Brian Sigman still running the show with helpful coaching and advice from Wes Edens and Randal Nardone who both own huge stakes in NCT, why wouldn't I want to be onboard the NCT juggernaut?
Now everyone should understand how computers have taken over. In the algo's the computers are programed for certain words, after B's speech yesterday most all the words were hit, today is more of the same. We should come back, just not as fast as we went down. I don't see any of the fundamentals changing.
People forget that the REIT sector was doing very, very well before the fed began it's $40 billion/month buying binge. Most have navigated well in the low interest/fed buying environment and should continue to do well even when the government ends it's support. The main fear will be those interest rates beginning to rise..
Bob, Correct me if I am wrong but the Fed bond buying is not directly hinged to or dependent on the Fed lending rate. If I remember correctly Bernanke has stated that the lending rate will be held until unemployment rate is at 7% (stupid manipulated number) but for sure into 2014. Not that I give credance to any promises from the government