I agree pps should be much higher.I bailed after earnings and won't come back till I see a resumption of divi runs.I made a lot of $ playing with MTGE and AGNC,but they are out of favor with Mr market.My 2K loss when I bailed is peanuts compared to yours.You can't fight the tape,logic be damned.I tried a small position in IVR for the divi run but it ran down instead of up even though the divi wasn't reduced and earnings were good.
The MLPS seem to be returning to normal runs.I'm loaded up on KMP;gotta go where the money is.
Of course I think mtge is the better buy. I hate the markets reaction, mtge should have improved in book value more then anyone else today given the improved housing fundamentals and improved agency mbs. Big wake up call coming soon for shorties. Can't wait until earnings at end of July or first week in August.