What did you think of the last NLY report/CC? It sounded pretty good to me. Spreads are well and book value is up. It sounds like we may be in a deflationary period a little while longer which will be good for earnings/divi. It sure sounds like they have some other options also (banking, comercial). I sold earlier in the month of April in the upper 14's and have bought back in the 13s. I even bought a little this morning at 14.03. I will probably hold now though the divi unless it get near 16.
The covered calls did sound interesting. Did you give that a try?? The stock seems fairly range bound with dividend support below and REIT payout limiting capital appreciation on the top.
Interesting - but I really don't think anything they say really has anything to do with stock performance! It has been on such a cycle for quite a while that one can buy low 13s and sell mid 14s pretty regularly and just make sure to load up a week or so prior to dividend announcement. I sold off half at 14.5 a while ago and haven't bought back in as I was buying GE at 8.90 and AA at 6.10. Wish I went all in with those 2 in retrospect. I haven't tried messing with options with NLY - although been meaning to play with it on paper for a while. Per the CC - still looks like a pretty safe play if you're looking to park money and simply pocket the dividends. Of course IMHO - and nothing is completely safe - but the risk compared to money market - looks to be worth it to me to maintain a core holding and buy and sell as the dividend and price situation dictate - knowing that I'll have another opportunity to buy near 13 and sell near 14.5+.
Used to have 20,000 shares of BTN. Currently only 2000. Wish I loaded back up a few months ago. Things are feeling pretty good around here. I live in Omaha and wish I could go to the meeting - but I expect a return to profitability soon - even in this economy - with decent growth prospects. Screen division appears to have nothing but growth potential and same for the service sector. Just need to get the NEC machines moving. If positive in this ball-buster of a 1st Q - good potential moving forward. Still think there is a buyer for this company out there somewhere. Volume is still ridiculously thin - but the pressure that does exist seems to be in an upward direction.
The only thing I know is what is from the 10K copied below. I don't expect a big impact but asbestos from long ago prior aquisitions has been a thorn in the side of many companies such as RPM and USG. Fortunately, this sounds like a single, isolated case.
"Item 3. Legal Proceedings Ballantyne is currently a defendant in an asbestos case entitled Larry C. Stehman and Leila Stehman v. Asbestos Corporation, Limited and Ballantyne of Omaha, Inc. individually and as successor in interest to Strong International, Strong Electric Corporation and Century Projector Corporation, et al, filed December 8, 2006 in the Superior Court of the State of California, County of San Francisco. While we believe that we have strong defenses and intend to defend the suit vigorously, it is not possible at this time to predict the outcome of this case, or the amount of damages, if any, that a jury may award. The plaintiffs have made no monetary demand upon Ballantyne. It is possible that an adverse resolution of this case could have a material adverse effect on our financial position. The case is scheduled for trial to commence on May 26, 2009."