Pressures on PHK include uncertainty in the debt market, the ML analyst’s ratings, and being post ex-div. Now more then 2% below where I pulled out, and waiting for a bottom.
Please don’t get me wrong, as I am a firm PHK believer. However stressors are going to cause predictable pricing fluctuations (greater then the distribution amount), and it's my job to take full advantage of the situation, being a capitalist and all...
That said, who wants to guess at the bottom?? I'm thinking no lower then 13.00.
The shorts are after PHK again this week.
I know it has been bearish lately but PHK seems to drop a little more than it should.
Isn't it funny how PHK, like a lot of other income paying funds, often seem to fall right after the ex-dividend date and then bounce back right before it is time for the next ex-dividend date.
I guess the shorts don't like paying out the dividends too much.
mcgoo you are as boring as todays market will be. Time to start buying today. YAWN. Those silly europeans certainly are a pack of cowards. (maybe you could post there LOL) Makes it profitable to get up some days.
Well mr mcgoo, I wouldnt call bullish "lunacy", but optomistic. IMO a lot of people misunderstand PHK for a CEF, static in investments, kinda like we're gonna buy this and that and leave it be and see what happens... That's why they are so fixated on NAV...but they are wrong. PHK is an ACTIVE trading outfit fully utilizing all the tools an active busniess should such as using leverage and such to extract a maximized dependable profit from all the resources they can garner. In that sense, PHK is more like a busneiss then a fund.