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Prospect Capital Corporation Message Board

  • jadelover888888888 jadelover888888888 Jun 11, 2013 4:57 PM Flag

    PSEC has become such as a WEAKLING

    just like some of these pumpers here, LOL.

    In one of my response to another thread posted earlier today on which I received 7 thumbs down, I said
    "I did warn them but pumpers r too busy running their mouths n if PSEC drops below 10.18 today......I still believe it will drop below its 12-mo low of 9.80 by the end of this year."

    What I did not say is, watch out, if it drops below 10.18 today, it will not fare well for PSEC. It closed at 10.14.

    The daily volume for PSEC today was only 2.3M comparing with its average daily volume of 3.19M. That means less and less investors are willing to trade it. I wonder why?

    While at today's closing, DOW lost 0.76%, NASDAQ lost 1.06%, S&P lost 1.02%, how much did PSEC lose at closing:

    - 2.12%, closed at 10.14 well, it appears there more sellers today than buyers despite its 13.04% yield at today's closing price of 10.14, I wonder why?

    Now to be fair, there were 11 BDCs which dropped more than PSEC at closing today, but I do not believe any of them pay a dividend that is higher than that of PSEC. Does that mean PSEC has now become underpriced or it will drop more. We shall see.

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    • I like PSEC keep telling all to sell keeping price down more cheep shares for me thank you

      Sentiment: Buy

    • PSEC might be a weakling, but you remain a Jaydeeit. I suckered you pretty badly the other day, and you swallowed it hook, line and sinker.

      That, coupled with your habit of copying and pasting spam bait from various financial publications, shows you don't possess much in the way of critical thinking skills.

      As others have repeatedly pointed out, even a stopped clock is right twice a day.

    • You're a weakling, a fraud and a liar.

      Ninth request: What is your purpose here? Do you have enough spine to answer?

    • A lot of pumpers continued to remind my bad call on MTGE. I should really thank them because I did make quite a few bad calls especially when the market started falling and most stocks have not bottomed out yet. But some time you have to buy when you believe you see good values and when you believe you err then you sell and cut the losses. Many pumpers apparently either have not mastered the art of cutting losses by selling or they just have no ideas what I am talking about.

      For your info, I also made a bad call on FAM because it kept dropping and I kept buying. Well, I guess you now found a reason to be happy today. No thanks needed.
      FYI I bought some MTGE at 24.35 on 5/10, it dropped and I bought more on 5/13 at 23.76. They continued to drop and I sold all of them except 100 shares at 23.72 on 5/14. I believe it might have bottomed out on 6/11 at 19.78 because it was only down 0.49% and closed at 20.25 today comparing with PSEC's down 2.12%

      If your pumpers are not so excited in attacking me, you really should start buying MTGE like Instant recommended. I saw value there. Of course, if the FED started tapering bond buying, it may (a big MAY) drop some more but I just do not see how much it can drop because its yield has become too attractive. Its price/book has now dropped to 0.84x according to E-Trade. I call that undervalued. I need to take a better look at it tomorrow.

      • 4 Replies to jadelover888888888
      • ARR is trading at 69% of book value. Mortgage reits are really super high risk investments right now and MTGE could easily drop another 10%. I am hoping the beat down they have taken is over done and I just bought some ARR, but only 1,000 shares. The preferred funds and bonds in general are also taking a beating. I had bought $145,000 worth of preferred stock in BAC, WFC, JPM, and GS just to promptly lose $6,000-7,000 in a flash. I sold them all thank goodness as WFC preferred is down another 3.9% just today and the others are also down. I would sell your JPC. Sitting in PSEC stock was safer than the "lower' risk alternatives given managment's great track record.

      • From Barron's online today re various mREITs:

        "We expect the majority of our mortgage REIT coverage to declare second quarter dividends over the next two to three weeks. We expect six REITs ( American Capital Agency (AGNC), Anworth Mortgage Asset (ANH), Hatteras Financial (HTS), Invesco Mortgage Capital (IVR), American Capital Mortgage Investment (MTGE) and Annaly Capital Management (NLY)) to cut their dividend and two ( Five Oaks Investment (OAKS) and Zais Financial (ZFC)) to increase as they complete the ramp-up following their initial public offerings. We see downside risk to our dividend estimates should any of the mortgage REITs have de-levered in order to help protect book value. In addition given the decline in Agency MBS prices there are likely less gains to be harvested in order to maintain a higher dividend."

      • Congratulations. You do have the capacity to admit to making bad calls. I suspect far more bad calls than you've admitted to here. But it's encouraging that you've come this far.

        So tell us, now that it's clear that you're just a shlub like us and not the great guru you've pretended to be, why should we take your advice on MTGE or any other stock?

      • I personally see value in PSEC at this level, that doesn't mean it can't go lower but it is trading below book value and paying a 13% yield, while the yield can disappear the book value will remain unless some bad loans appear, and for the reason you don't see tapering starting soon, neither do i see bad loans coming soon. SO when it is said I still do not see it going to the level on Psec that you are predicting under current scenario, no by year end a lot of things could change but by end of Aug I say we see closer to 10.80 than 9.80 and you have the lead right now. But I double up again before it gets to 9.80.

10.62+0.01(+0.09%)Jul 9 4:00 PMEDT

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