load below $3.88. And this stock is going to slowly moving beyond $4.50 before the end of the year.
It is the USD declining and everything is artificially going up in dollar terms but flat when valued in gold. If you don't buy stocks and just hold USD, you will lost about 5-10% in a year.
Also many fund people didn't catch the Sep 1st to current market rally, they have to buy something for this year's performance (or lose job?). Since those people missed the train are geberally those conservative people, they will pay for safe high yield and CIM's temporary weakness provides an excellent entry point .....
What an incredibly silly and gratuitous takedown at the close today!
It is now firmly "in the market" that a director bought 100,000 more shares and the CEO another 50,000 IN THE PAST TWO WEEKS.
There are so few big buys like that being made by insiders - since everyone is antsy over politics and currencies - these stand out in technicolor.
The stock was already very, very popular among its key constituency of big institutions. It will now become even more so.
If you're short at the next rally, watch out above!
"...CEO another 50,000 IN THE PAST TWO WEEKS.
There are so few big buys like that being made by insiders...".
Big buys?? I hate to disillusion you, but a couple 100 thousand dollars is chump change. These guys get multi million dollar bonuses every year. A couple hundred thousand is no more than the bonus they make in a month.
I was agreeing with the poster I replied to.
The "target" was $4.0X as long as the volume stays around 16 MM/day - plus or minus.
Unless there is some news (which I doubt there will be) before the next x-divvy date (near Xmas) you probably won't see $4.2X or higher until 7-10 days before the x-divvy date.
I'm glad I bought a second position during the last offering - some folks on this board actually had me wondering IF it was going to pull back to below $4.00.
I don't see that happening now.Plenty of room on the upside when the time is right IMO!!
The new shares are not even in circulation yet based on the filing I read today. Final wire payments for the shares had to be in this morning according to the filing. Thus, I expect the share price to pull back considerably, just like it did 5-6 days after the last offering in June.
Some of those new share holders @ 3.8 will dump to make a quick .20 profit is my guess.
So far so good regarding the volume of shares traded over the last 2 days with the pps "huging" $4.0X.
Looks like we'll have 2 more days this week to watch to see IF it stays at the $4.0X level.
Anyone see any reason why the pps would start dropping over the next 2 days???
Other than just speculation, that is :-)
You guys all better be careful. Vols has already called it. It wont go lower.
I love it when people post up nonsense during an upswing and a day later they are proven wrong as usual.
Hey Whamp -
You might just be right on target with your guess!
Let's see by the end of today and tomorrow IF the volume(s) traded together with the pps "huging" $4.0X reinforces your guess.
Stories beginning confirming MY prediction - always thumbed down furiously by the DOGbots at Seeking Alpha, by the way - that the best way out of the strengthening Yuan dilemma is for the Chinese to start buying up every attractive asset they can in the developed world, as they've been doiing in the developing world pretty much forever.
I don't know if they're in the REIT group yet, let alone the MREITs. But I think this group would be very attractive to them, wouldn't you?
(My feeling is that CIM and its handler NLY would like the stock over 7 eventually, cutting back on the too-high yield, but getting above the point where smaller institutions - they will never, ever care about retail - can margin it aggressively.
(The current constituency of large institutions can do whatever they want. But the smaller institutions are constrained from coming in because of the stock price.
(This won't happen overnight. But within a year - if it's a good market year - I can see it trading between 7 and 8. Can't you?)
Was it during the Q2 CC an analyst asked about doing a reverse-split to get the price over $5, for that very reason? I believe so. IIRC, the reply, after some laughter, was (paraphrased) "We'll be above $5 before the end of the year, anyway."
I'm not going to go back and listen, but that was, obviously, very interesting. Anyone else remember that? Or was I hearing things?
I am saying $4 is a good entry point. Especially so many things are confirming an uptrend in the market.
Nothing is for sure (the only thing sure is US bond will be much lower in a year or two), but chances are good that CIM will be higher at the end of the year than today's close of $4.02.