There were other mREITs that advanced last Friday. HTS, AGNC and CIM did so. NLY is going ex-dividend on 6/28/16. In other words, it was in a dividend run up situation to help support a share price increase.
Yes sir! Many mREITS are doing quite well today, even those without a dividend run up situation. I started watching NLY the other day and decided to a move this morning. I haven't owed NLY in many moons. AGNC was the one I used to really like three or four years ago, not NLY.
I purchased NLY this morning at $10.64. It was down earlier this morning, but now has advanced 1.39%. It goes ex-dividend next Tuesday. Divy run up time even in this market!
Good for you, Phil. Besides being a super slick stock trader, you are also a wealthy interstate land baron. Bravo!
My wife and I are now about 70% in cash. The game plan is to go for the gusto later in the year (whatever that really means). This summer will be the time to let our money rest on the sidelines. I presently have more pressing business like planting a bunch of tomato plants and watching the German shepherd go wild chasing squirrels. Notice: All of the above is subject to change if I get a super hot tip from Barron's or Jimmy Con Man Cramer. GLTA!
Bill Ackman was on CNBC and said that Valeant has made a lot of changes in the last few weeks. He stated that Charlie Munger of Berkshire was "wrong to indite an entire company on the basis of a few mistakes." Since Pershing Square owns a ton of VRX stock, what else can you expect Ackman to say? He certainly isn't going to bad mouth the company at this point on national TV with the hit his stock has taken. Maybe with Joe Papa replacing Bill Pearson as CEO, there is more positive anticipation of what will occur than is justified.
Take a look at a one month chart for this superstar stock of the past. It's quite impressive for this month. I remember selling this stuff for over $100 a share a few years back. However, even at less than $3 per share, it now looks interesting.