Oh, I don't know, I'm in at 6.50 and it is up from there in the last couple of months. Every stock has profit takers that will drive the price down every time it spikes like this just did. Over a long term it is stable.
Haha, it always rebounds to being overvalued smart guy. And I'm the one talking fairly about this stock. You're trying to talk it up to get it to rally. Over the past week its down 15%. Who's been right?
As of 03/31/2009 Holding Dollar Value % of Total Portfolio Exxon Mobil Corporation $2,520,000.00 5.08 Liberty All Star Equity Fund $1,392,000.00 2.8 Wal Mart Stores, Inc. $1,282,000.00 2.58 JPMorgan Chase & Company $1,266,000.00 2.55 Procter & Gamble Company (The) $1,238,000.00 2.49 Johnson & Johnson $1,205,000.00 2.43 Chevron Corporation $1,145,000.00 2.31 AT&T, Inc. $1,097,000.00 2.21 Zweig Fund, Inc. $1,060,000.00 2.13 Microsoft Corporation $1,032,000.00 2.08
They own the S&P, why buy CLM at a premium, when you can just buy the S&P?
Guys, CLM is trading significantly over its NAV. It makes great sense to short this stock. Everytime it gets to this level above NAV (about 50-75%) it gets wacked. Its the easiest trade out there. Buy SPY and sell the heck out of CLM will make you rich. Do it until its a 20-25% premium and then wait to do it again. Also the news was, it looks like they lowered they're NAV pretty good today. Whats great is the premium actually went up and you made money on the SPY/CLM trade... Ahh what a great world we live it.
Here's an easy way to know you have no right to be in CLM if you already are. Name they're top 5 holdings. If you can't, ask yourself what your Edge is, cause if you own something like CLM and can't name it holdings you must own it cause have Edge over the market. So what's your Edge?