Quick Note

I’m still working on the piece analyzing the puzzle of the screamingly high prices that MBS trade for today, but I thought I should alert readers to the fact that I took profits in yesterday’s NLY.

My low-ball bid got hit yesterday near the low, and today’s market simply makes me nervous.  I don’t care how ideal the yield curve is for amREITs — I got paid well for owning the stock overnight, and I know that attractively priced stocks go down with the rest of the market when they are getting Ursa Major on me.

Cash 33% after the sale.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: