I bought a few k about 10 minutes before the close @ 10.60. I want to thank Harry Reid for driving the market down. What a stupid man with this comment.... Tuesday afternoon, Senate Democratic Leader Harry Reid said there was “little progress” made on reaching a year-end deal to avert the cliff
and said that it would be foolish to hatch a fiscal-cliff deal that didn’t also raise the U.S. debt ceiling.
This whole fiscal cliff deal was about the debt ceiling to begin with and the Republicans refusal to increase it. Nothings changed. The Democrats want to increase the debt and increase taxes also to keep on spending like there is no tomorrow. Thanks Harry!
They were all down in general today. The talking piece for the democrats senator Reid said
their far apart from any agreements for the so called "Fiscal Cliff'. That means the democrats want to raise taxes big time on investors with little cuts in spending.
Agreed. Poor volume and no appetite for the distribution portends an exit tommorrow. PSEC did not bounce back like other BDC's after the selloff in the sector last week. I believe this is due to the secondary being announced in tandem with said selloff. Was it wise to do a secondary so close after the election?...before knowing the pulse of the fiscal negotiations? I think it was #$%$ timing but I will be there with you searching the bottom. I have confidence in the reasons why I bought this company when it was on everybody's short list. Besides... sometimes I can't resist running with the dogs!
I have to admire your gumption. I was very very tempted to do so when it dropped to around 10.57 right at closing but thought better of it because DXD had been risen like crazy and PSEC usually dropped some more on or after its ex-div date. No point to be too greedy since I still have a bunch of PSEC that I bought at around 10.03. Instead, I put in my buy orders to grab some more because I believe it will indeed continue to drop. Of course, it is not the first time I am wrong. I did buy some TICC though.