Hi, Kel: I just checked my account and found out that my buy order for FAM was filled (only half) at 16.04 at around closing. This is a very thinly traded CEF and I expect it will continue to drop and make new 12-mo low (previous is 16 on 6/6/13), it appears most of these junk bond funds got hit hard when interest rate starts rising and rising it will. If it rises back to around 16.50, I may start selling some. It is a keeper though if you do not hold too much of it. J
FAM is a bit high, I usually buy it when it drops to around 16.06. It has been dropped lately. Do not know why. KMM dropped a lot too. It is almost DXD time. Will add more. If the DOW jumps 200 points today it will have nowhere to go but down next week.
I cannot fault you for buying back FAM, in this market anything can happen. FAM is not undervalued.
If I do not have so much already, I am tempted to add more. May be I will. It is a top CEF. I just bought some PMT at 21.79. Good day trade REIT. My friend said it was very undervalued.
I sold FAM about 2 months ago in the 17.50 area, so its been a good one to be out of for awhile. Also tempted to buy some short ETFs. Not sure why the DJIA is up 200. Jobs report not that good, or bad, for that matter. Haven't had the best of luck lately with the Ultra short ETFs.