Monday, August 8, 2011

Stocks took a beating from downgrade

the Sand P downgrade also came to Fannie Mae and Freddie Mac securities which further supressed REIT stock.  AGNC in my opinion is one of the best REITs out there. They closed at $26.73 losing $1.62 or 5.71%. AGNC's book value is $26.76.  Most dividend plays are at or below NAV or book value right now. There may be some bargains here but caution is advised, the market could drop more. I recommend any stock purchase should be accompanied by some silver or gold to protect your long term net value. At 5:24pm today silver was at $39.09, I am aware silver could come down considerably but I do not think it will be to long until we see $50 silver again. Do not buy physical silver unless you plan to keep it for 2 or 3 years, buy ETFs for shorter term holdings.

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