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Tuesday morning we said:  "If Annaly hits $9.05, we're out. If New Resi hits $14.30, we're out. (It was down 53 cents today to $14.46.) If AGNC hits $16.65, we're out. Watch your positions closely."

This morning the market opened very poorly. As we write this the S&P 500 is down 43, the Dow 400. The 10-year Treasury is down 7 bp to 1.60% and the 30-year is a record low of 2.04%. There is a movement going on in the world of interest rates that most of us can't understand. Thus we are going to hide under a bush while this blows over.  The old ways aren't working any more and we are going to take a break from these three stocks.

There are lots of other ideas out there and we have been talking about them for months and will continue talking about them starting tomorrow morning.