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Prospect Capital Corporation Message Board

  • jadelover888888888 jadelover888888888 Nov 27, 2012 3:57 PM Flag

    PSEC dropping like a rock

    on the day before its ex-div date...

    Why people were selling today and gave up its 0.1017 dividend unless they believe they could buy them back much cheaper after today?

    What do you think?

    I believe a lot of investors are getting very nervous with the current impasses between the two parties in the fiscal cliff negotiation.

    It may soon be a great time to buy PSEC again. I already put in my BUY orders.....

    If you honestly believe PSEC is a good long term hold, may be you should do the same?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • 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!

      Sentiment: Buy

    • faceless machines dont pay attention to ex-dates

    • nonameoilworker@sbcglobal.net nonameoilworker Nov 27, 2012 4:07 PM Flag

      why down on day B4 ex-rights? answer i dont know but i bought some on the close

      Sentiment: Buy

      • 1 Reply to nonameoilworker
      • 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.

 
PSEC
8.545-0.045(-0.52%)1:18 PMEST

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