I bought back about 35% of what I sold at 25.25(I'm pretty sure its posted).
Yes, I could have bought it all back,
and together, I might have lost a little profit overall(I haven't taken the time to do a comparison).
It was a bit of a hedge and a way to limit my exposure.
Sort of like "puts for poor folk"
Right now, I have 75% of the position I had,
and I reduced my cost basis "this round" by .52%,
from around 25.14 to about 25.01.
I'll watch and be ready for
a dip to buy(-25) before Earnings,
and a signal to sell(26+) before spo.
If MTGE reaches 26.26 I may sell most but not all,
and wait for a spo.
26.26 may not be the top,
but spo time,
I may just buy those 25.44 shares back afterall. :)
foxy, this was the run.
remember last week when everyone was saying to buy MTGE instead of TWO, and I said there isn't really a reason to do that other than MTGE was relatively depressed short-term relative to TWO and AGNC and it's not so much a play in MTGE on fundamentals as an arbitrage expecting convergence?
well, today was the convergence. look at a 5-day chart.
if i wasn't already committed to the div runup in TWO i might have taken my own advice on that one...
i need the next two days to look really good for TWO, or i'm going to make only a percent or two on the whole mess of groceries i bought there
I sold 1/3 at 25.44,
Not because I don't like MTGE, but
because I don't trust the the seemingly daily influx of "morning buyers"(European traders?) who sell off an hour or two after the open.
The sale lowered my cost-basis while providing me a nice little profit.
I'm looking to buy the shares back sometime today or tomorrow.
If not, then "Oh well". :)
I guess we shall see