Right now we have the pre-flush. That is the people who panic because CIM has not yet reported earnings. This will be followed by the flush. That is when earnings disappoint ever so slightly and everyone runs to the hills. Then it is accumulation time!!! Cash on hand and waiting! It's like waiting for Christmas.
Based upon the other REITs all reporting revenues that have missed what the street predicted, I'd say CIM is also going to do the same. The consensus is 11 cents per share for CIM - so I'm thinking it may be 10 cents. Not good for the dividend though - as that means another slight cut.
Yes, I know - not comparing apples and applies - but AGNC, NLY, ANH, and others have all reported results that were not in-line. Just hope the fall isn't too terrible.