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Western Asset Mortgage Capital Corporation Message Board

  • daicheng0722 daicheng0722 Jul 5, 2013 3:53 PM Flag

    my take on todays action

    the job report just tells the umemployment rate remains the same. yet the street emphasize this is "strong" report and hyping that Fed will taper soon. I think today action is the shorts effort to drive the price lower and cover, taking advantage of the timing.

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    • The jobs being created were mostly service jobs at $12/hour without benefits. Jobs lost were mostly government jobs at $30/hour plus benefits. It's likely that payrolls barely rose and, of course, the unemployment rate was unchanged. This is continuation of the zero real income growth in household income. Housing is about to cool off as well.

      Sentiment: Buy

    • I think you have it right. It should not be trading here at all but "the market" as stupid as it is has it all wrong on the interest sensitive stocks. Net asset value at the end of May was estimated to be about $19.25 and here we are the beginning of July and it trades where it is??? Mr Market is Stupid!

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