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David Stafford
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Student of markets, enjoys following their course.
My book:
Around the World in Several Pieces
  • MPW Testing A New Range. 0 comments
    Mar 2, 2012 4:18 PM | about stocks: MPW

    A post or two ago, it was mentioned that this 9.70-10.00 range may have just been an upmarket range. Perhaps today, that theory was proven to be temporarily true, as MPW tested its lower range at 9.60.

    The volume for MPW today was rather unique, with the largest single orders being on average around 10k. There were a handful of 20.0k movements but they were far outnumber by the 1-8 or 9 k orders, and the 10 k orders.

    Needless to say when looking at this sort of dynamism or lack thereof on a chart is appears as though there's pretty much little to no volume. So that was interesting.

    Perhaps this is also a good day in that it showed why MPW has a 1.57, previously 1.6 beta, whereby as the market moved lower, it moved in tandem with a perhaps somewhat more excentuated flare. If the market in general is waltzing, MPW is flamencoing around the room, and perhaps today's price change, relative to the markets more subdued move lower manifests that.

    On a positive note, SBRA moved higher. This is perhaps caused by its increasing dividend yield, for its total yield increased roughly 8 cents p.a up from the quarterly .30 to .32 quarterly. Or this could just be some Sbra magic, which it has (as previously discussed) shown on occasion.

    As far as MPW is concerned, once it hit 9.60-.59 it rebounded up slightly by 1 to 2 cents, so perhaps on down market days today, 9.60-10.00 is a more realistic trading range. MPW started out at open at 9.76. Slowly but surely it preceded down to its intraday low, at 9.59, and then cathartically reared up from the breach, only to later settle down to about 3 or 4 cents above the daily low for the rest of the day.

    The market as a whole was down for the day, and this is also true of the Healthcare Reit sector in general. Today's positives were seen in gains in the aformentioned SBRA, VTR, and SNH, and also, at the moment, UHT. UHT is up under 1%, while the rest are up between 1 and 2% with Sbra leading the pack at the moment, up 2.3% which translates into about .3 to .34 cents. Leaving it with a price as of 4:11pm of 15.12 dollars.

    MPW is still quivering around after market close and has gone up to 9.62 and back down to 9.6 all aftermarket.

    Perhaps monday will open the same way for MPW, slithering as it does with its(temporarily) gently undulating slope.

    Stocks: MPW
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