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Prospect Capital Corporation Message Board

  • viewfinder4 viewfinder4 Nov 28, 2012 11:24 AM Flag

    Why would you sell anywhere below book or the secondary pricing???

    Free money unless you are convulsed with worries about the pretend-fiscal-cliffy!

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    • The DOW went down some 80 pts earlier and now went back up 70 pts in the green, yet DPO which consists of 30 of the top stocks in DJIA such as MMM, CVX, MCD, etc was still down slightly as of now. Why? Either DPO will come back up or DOW will soon tank....Take your pick...

      The DOW went back up because people got excited with the hope of a deal will be made soon by the two parties. However, if you read what Erskine Bowles said in this Bloomberg article:

      "Bowles Says Fiscal Cliff Deal Unlikely by End of Year"

      He said the chance of a deal being made by the end of this year is only one third. Of course he also said, "“There’s no scientific basis for me to say one-third, it’s just what I feel having spent my life as a negotiator,” Bowles said. As “people begin to react” and economic news comes out in the fourth quarter, there’s another one-third chance “you get something done real quick” in 2013, he said.""

      On one hand if you are one hundred percent into Equities without any cash reserve or any insurance (shorts) and with a lot of risky high-yield dividend stocks in your portfolio, you should indeed be very worried if fiscal cliff does not get resolved by the end of this year because the chance of your portfolio losing 7-9% if the fiscal cliff is not solved by Dec. 31 will be exceptionally high.

      On the other side, if you bought all your PSEC in fantastic prices you should indeed hold all of them and enjoy your future dividends.

      However, right now I have no idea if PSEC is a good buy at its current price or not. But if it drops below 10.30, I may start buying again. If it drops close to or below $10, I will be buying like crazy.

      I believe after one more week, we will know which direction the market will take. I have been adding short ETFs to my portfolios though. I had also bought more AUY and SLW this morning.
      For oil, CVX, COP, PSX, MPC and HFC are great buys.

    • oh wait, i know! you got up, walked to the mouth of your cave this morning and noticed signs of fiscal-cliffitis between your toes.

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