It looks much stronger today; much less selling going on. Maybe the Russell Index selling is finally finished and the shorts have moved on. If so, we will continue heading up. The closer we come to NAV, the more confidence investors will get.
quarter: Under the circumstances, a safe 13% will draw money from the moon. the alternative is a 1-2% CD or a round at the stock casino. I know what i would chose. How much did you lose today?
I'm long and I think you are correct. The share price action today was disappointing to say the least; there is some major selling going on, but what is worse, there was not a lot of heavy buying. I think many investors left PSEC permanently to find a more solid place to put their money. We'll see what tomorrow brings, but I will not be surprised if tomorrow is a red day down into the high teens or low 20's. You hit the nail on the head: investor sentiment is very low, and that will not be solved within a couple days. I had guessed today would be a huge day, but I was wrong; today tells me that the share price is likely to bleed down from here once some shorts finish covering. I am still up here, but I plan to free up some more cash to buy some dips; I don't think the dipping is over yet. GLTY.
johnson, For every seller there is a buyer, and when the price goes up $0.46 that means the buyers were willing to keep buying at a higher and higher ask prices, so you are just spewing more nonsense.
you are even worse then the original poster. If you think the price action today was disappointing just wait a little bit, the stock price will soon hit 11$, then you shorts will be satisfied, I don't know what you people are doing all the day long, but it seems to be you are just making up some stupid opinion on this board because your life is boring, isn't it?
I cannot stand flip floppers, one second your cheering the next your whining like a ####### baby. Are you that weak? not a lot of heavy buying? Dow was down 100 points we gained 47 cents , on what selling?
Sentiment: Strong Buy
My guess is that PSEC is over NAV within a month. Yes, it probably will take a hit on the NAV multiplier which forms PPS compared to other BDCs, but I'm fine with that as long as it continues to pay its dividends and gets back over $11.5 next year.