What an insanely volatile day. Take a look at the 10 yr. why did the stock market come back again?
SDRL is one scary looking chart. Apparently no one will ever explore for oil in the ocean again. I also heard no one will ever use oil again after 2014. Russian oil production went up last month so those sanctions are being REALLY effective.
I know. The 10 yr is at 2.4 and there is no imminent threat of rates going up yet MTGE has a p/b below 0.83. If that job report tomorrow isn't awesome rates are going down not up. I just don't see mreit investors wanting to sell. So who is selling?
MTGE looks like it is going to end Q3 below $19. What I want to know is who the hell is selling? It certainly seems to be unsymmetrical. Investors just sell and no one buys. Look at AGNC. 3weeks ago it was trading at a p/b of 0.95 and now that p/b is 0.81. Has anything substantial really happened over the last 3 weeks to cause such a dramatic downturn? Reik does bring up a good point. What are these dark pools actually being used for? Why are they legal?
Why in lords name was MTGE beaten down to $19 today? Days like today make me really wonder why I invest in mreits. The friggin 10 year is going to end Q3 unchanged yet the p/b continues to get beaten down. One would think they would represent a flight to safety and would bounce when the stock market gets hammered. But Noooooo.....
Well......I feel better now anyway....
SDRL down below 27 today getting REALLY stupid when WF just comes out with a sell rating.
Sold NADL out yesterday and just bought some back. Will buy more if it gets hit again tomorrow. This short term insanity is in sharp contrast to their long term drilling contracts.
Sounds like you are going over the dividend cliff then. Doubtful you will see much much change tomorrow. Good luck.
Wasn't the 10 yr around 2.35 at the of august? All things being equal wouldn't that make the current BV before div lower than August 31? Maybe I am missing something but that BV doesn't sound so great.
Good job alkkov. Wish I sold it all at that level and bought back at 6.25. But whateva. Another rough day for NADL. We could be seeing another leg down. Hope it gets to 6 so I can buy more.
SDRL is not an ADR by the way. It is fully listed. But I hear you. I guess my point was oil price, majors cutting back on offshore drilling, Russian sanctions, etc. was a bigger issue for the stock.
Wow. I am with you on NADL. It appears that the Ukraine and Russia are about to kiss and make up (right before it gets friggin cold. Who da thought?) so who knows how long those sanctions will last. I have to think big oil will rule out here.
With respect to Fredriksen companies, have you looked at MHG? Russians love their salmon after all.
Oh wait...the US is bombing Syria...Russia won't be pleased...
Good point. The strong USD has not helped. Given the other factors driving the price down though I am not really paying attention to the USD/NOK exchange rate. I don't consider SDRL a Norwegian stock just as I don't think RIG is a Swiss stock. The sector is just so global as you know. I am sure the executives at Exxon are regretting having a US headquarters these days. You can imagine how #$%$ off they must be.