In a decent market FTR would have been over 8.50 today. It has some resistance around 8.80 area but then clear to about 9.14. I bought some at 8 and bought another batch today at 8.39. With this dividend and its tecnicals, this will hold up relatively decently in a bad market and do well in a good market.
i've said all along that the eventual price for FTR will be whatever it comes out to for the yield to b 6.5-7 % ... still has a good run ahead
also , for other high yielders , VZ , T , pharmas
look for those yields to get down to 3-3.5% .. it' ll take a couple of years , but those are historic norms and eventually the markets will get there .. dow 15000 and S&P 1600 ... again .. it's going to be a couple of years
history tells us that after a recession the markets come back to new highs ,, of course there will be dips and serious dips ,hence do your buying at those times ..
Basing my statement on what analysts have to say about FTR's dividend of 9+% and it is safe for at least the next 2 years, then the pps should be $10+/share. AT this price the dividend is 7+% and is over 7 times what a bank CD is paying. I will be a holder/player of FTR for at least 2 years.