It was a nickel. So, yeah, "precipitious" only in the sense that there's a nickel-sized hole in someone's pocket.
Looks like someone ramped up their sell-volume slowly and the book just thinned out until it finally couldn't hold it.
it rolled us back to Wednesday, but after the dip the ramp continued as before. The whole thing could even be the same guys who made it go up yesterday realized they'd done some math wrong and ran away today.
well, it certainly was a buy if you had read this: . . .The stock currently yields 13.8% and paid $85 million in dividends, while it generated $106 million in cash from its operations. The company reported a CPR of 13% for its MBS portfolio at the end of 3Q. The company invests in MBS with prepayment protected characteristics. A large proportion of the MBS in the company’s holdings are 15-year MBS."