If you watched 60 Minutes last night you would know PMM will be $5.00 (at best) by next December. Meridith Whitney, the smartest analyst on Wall Street, said the municipal market is about to CRASH. No one wants their IOU's and hundreds of billions of $$'s need to be refinanced this year. Federal stimulus money runs out over the next 6 moths and then the crap hits the fan. She predicted the financial crisis and has hit targets (both highs and lows) on bank stocks this year. I just canceled my order for 5000 PMM @ $6.59. Wall Street will want to pull as many suckers in as possible before they pull the switch(aroo)on muni's. I think you could go to CBS and maybe see her interview. Good Luck to you if you are dumb enough to hold on over the next year!
Well, call me dumb 'cause I just bought some more. The outlook and sentiment changes everytime the direction of the wind changes. Every action is accompanied by an over-reaction. "F" these guys. I'm sticking to my investment strategy until I see a reason to do something different.