I could not agree more...here we have company that is up front about mostly everything, has the right answers and is doing the right things. They even annouced a profit, even though its derivative profit, its still funds to add to the pot. They even are still annoucning dividends. The real estate market is recovering slowly. There is no rhyme or reason that this stock is sinking day after day.
What a waste of space post. They have what $3.5 Billion in reserves - about double needed just for one year plus their other company to draw from if needed!
This thing will retrace up to between the 50 and 200 SMA's in no time around book value at $7.31 and then continue back up.
This is not 2007 - the housing crisis is now a housing recovery, slow but a recovery, and this stock is going to be fine.
No doubt...remember just a short couple months ago we were debating whether it would get toppy around $7 or $7.40 range, and now I would be happy to just stay over $5.50 again.
This is really odd - some is of course the weak housing market and MTG is down too, but I haven't seen anything RDN specific at all to justify this.
As with any decline, at some point buyers will start loading up and the pain will stop...I mean what are we about 40% below book value and 25-50% below most analyst price targets??? wish I was buying now!!!
could say the same thing for the Geoy we both follow Man..Though I still own 1500 Geoy and I think you have sold for now, the market is a "short term" voting machine and macro fears have ben taking their hits in many places...Longer views would load up with both i mention and not try to buy and very bottoms "that we would all love to do"..The weighing machine will return for those with longer views...No doubt below 5/share would produce margin issues for some...ones pain, is another persons opportunity....fyi.........
Yes..I actually have more money to add on this..but i'm not going to rush ....i thought about it this morning.....had i bought it in the 4.90's, i would have been down again...looking to buy it at the right time before it goes up...i might wait another day or so