Well finally cashed out on TWO today, reasons are as follows:
1) Goes Ex dividend tomorrow so a drop of 32 cent's is on the cards.
2) The passing of the Silver Bay Realty (SBY) shares on to TWO shareholders, happens on the 2nd April. This effectively takes 95 cents per share out of TWO and will be reflected in the share price, so that puts us down around $1.27 from todays price.
3) Two issued 57 million new shares last week which basically increases the amount of shares by close to 17%. This will have a huge effect on the "next" earnings per share figure, as this new money won't start showing a return by then, which will have a huge hit on the Companys ability to pay a dividend close to tomorrows 32 cents per share. That in itself will hit the share price and I know from various web sites I'm on that the number of investers shorting TWO has increased.
On the bright side I believe beyond the next earnings announcement TWO becomes a buy again and I think a figure of around $10 - $10.50 could be where the price goes within the next 9 to 10 weeks. My money is going to wait for that, if it doesn't go there and I don't get back in it's been a great ride, wish all my picks turned out to be as profitable.
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