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Prospect Capital Corporation Message Board

  • jadelover888888888 jadelover888888888 Mar 12, 2013 4:21 PM Flag

    De Javu 2007?

    So DOW made all time HIGH yesterday and S&P today. DOW had closed positive eights days in a row (though only by 2.77 pts). S&P broke its seven straight day positive record today by closing in the RED. So will the market rally continue? Nobody knows. The market has been giving very mixed signals because both the US dollar and stock market rose at the same time, that was very unusual. Precious metal prices and oil also both rose today, usually that will indicate the market will continue to rise. The market actually tanked at around 2 pm ET and then rose back. Interestingly, one CNBC analyst said the trading volume had been low during this recent rally and when the trading volume picked up, it may actually indicate the start of a bear market. One analyst actually recommended having 50% cash just in case there is a market correction so one can pick up some good buys. Nobody can predict how big a correction it will be, some said 5%, some said 10% and Marc Farber said 20%. Nobody knows when. Marc Farber at first said it would be soon and then he changed his mind and said the market rally might stay on top for a while. That means nobody really knows and that is why this is a GREAT mess. My recommendation is: You better take a very good look at every single stock in your portfolio, ask yourself why you buy and hold it. If you cannot tell what the company is doing or how it makes a profit, you have no business in owning it no matter how attractive the yield of its stock is. To me, this is almost (I said ALMOST) de javu of 2007. Six months before the last stock market crash, I was 100% out of stocks. This time, I still have quite a few stocks but also a whole pile of cash. If you DO NOT have any "safer" dividend stocks in your portfolio, I recommend you to take a very very good look at JPC, JPI, FFC, FLC and buy some if they ever drop 5% or more. Also, TICC may drop tomorrow and it already announced its next dividend, therefore you may want to buy more. J

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    • "De Javu". I'm lovin' it.

    • Before any one of you start attacking my quoting Marc Farber (because I know some of you definitely will), please understand I do not follow any advices that was given by any one person but it is always good to listen to advices of different investors/financial experts especially if they have been successful.

      I also read Jim Rogers's blogs and is now reading some of his books. This was what he said on March 11:

      " A Peculiar Time In World History
      "For the first time in recorded history, we have nearly every central bank printing money and trying to debase their currency. This has never happened before. How it’s going to work out, I don't know. It just depends on which one goes down the most and first, and they take turns. When one says a currency is going down, the question is against what? because they are all trying to debase themselves. It’s a peculiar time in world history." - in Business Insider"

 
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