not just because it will be the ex-div date for PSEC but the
first-quarter Q1 U.S. GDP will be announced at 8:30 am EST on Friday, April 26.
Many financial advisors seem to believe the GDP will be 2.5% or better, but average people who posted comments at the end of their articles seemed to believe otherwise, to me that is indeed quite strange. There appear to be disconnection between the Wall Street and the Main Street.
You may want to read this article "4 Things That Drive The Disconnect Between Wall Street And Main Street" that was published in Seeking Alpha on March 28, 2013 in which the author said:
"Anyone following the U.S. and the world economy closely cannot help but be concerned about Main Street, where the news is getting worse instead of better. Most notably a slowing U.S. consumer sector, capital spending sector, a European economy in recession, and a pick up in inflation."
and in his conclusion:
"But isn't this disconnect a bullish sign for the market? Don't bull markets climb a "wall of worry?"
Yes, in a normal market economy where interest rates are set by market forces. But not in the current economy where interest rates are set by the Fed.
That's why I would use every market spike as an opportunity to take profits or even establish short positions for "hot" stocks."
I believe that may be the BEST advice I have heard so far.
This is the link to that article:
I also recommend you to follow this guy: Wall Street Wisdom in SA:
I believe he is very smart and knows a lot about investing.
Right now, it appears PSEC will inch upward as it get closer to April 26 and I recommend you to sell some of your PSEC shares (if you have more than 5% of your portfolio in it) on either 4/24 or 4/25 because your chance of buying it cheaper on or after 4/26 is excellent.
If the Q1 GDP announced on 4/16 is good and the market reacts favorably and PSEC does not drop or actually goes up, then you almost definitely should sell your PSEC on 4/26 because if that happens it will set up for a BIG drop in May.