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Fifth Street Finance Corp. Message Board

  • thewisejman thewisejman Oct 10, 2013 10:20 AM Flag

    Today is the time to SELL

    especially some of the deadwood in your account you would like to get rid of. Yes, a relief rally may come but when DOW rose so high in a single day then you know what will happen on the next day.......

    Today is not the time to buy but to sell, selectively......

    I sold some of the longs I bought yesterday to take profit......

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    • It's funny, I had a couple of limit order buys in place today that never hit due to the market gap up at opening. A market that is up 2% on nothing but a potential resolution will quickly bleed back down 2% and more once the potential is gone. I'm still in wait and see mode.

    • tulsadevlin Oct 10, 2013 11:41 AM Flag

      I sold some TICC and some TCPC yesterday, a little too soon I might add.

      You can rarely time the market.

      • 1 Reply to tulsadevlin
      • Tulsa: Never doubt yourself. Hind sight is always better. Some time to protect your capital is more vital than making a BIG killing. That is why I no longer touch exceptional risky stocks such as ARIA recommended by Kel yesterday because if you can make a few grands in one day, that will mean you can lose the same amount or more in one day. Keep doubling down on a losing stock can some time come back and haunt you. Some time is better to cut the losses. I try not to trade anything I do not want to hold. TICC and TCPC are two very good BDCs, IMHO, actually a bit better than FSC (sorry folks). Therefore, if you can buy them at good prices, do not be afraid to hold both of them for long term. I also watch AINV closely. Unfortunately it never drop that much even when the market tanks. If it drops below $8, I will grab a bunch. J

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