Pimco Corporate & Income Opport Message Board
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Couldn't pass up a gain
PTY has been good to us over the years, We've bought and sold, always at a gain. Today we sold 2294 shares at 18.27 for a gain of $5335.00 Just couldn't pass up a gain like that. Hope we don't live to regret it by watching PTY keep going up. But, then again, thats a gamble one takes when playing the market. Will be watching to buy PTY when the price is right Good luck to all.
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DF, I think both. I think someone buying this at current levels will do OK over the time frame Gross suggested...but you get a nasty stock market correction and you can easily see a "16" handle on PTY.
Would I buy it here ? Yes.
Would I buy a full position? No. -
FWIW,
I have never sold PTY in the 3 years I've owned it, but today I sold about 1/2 my position for a hair over 18.50. I'll look to buy back on any significant dip.
disclaimer: not a real millionaire- 2 Replies to the_millionaire_next_door
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I loved your disclaimer !
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All out @ the close
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Selling is the best strategy during the run up after the Barron's hype. My strategy is to immediately move the funds into RCS, a very similar Pimco fund that didn't move up because it wasn't hyped. Then after PTY settles back, move back to it and time your transactions so that the trades are profitable. Good luck investing.
- 2 Replies to bullbuster77
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bullbuster, What can u tell me about RSC thinking about your suggestion of moving into RCS till PTY pulls back.
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If you are a taxable investor, your advice might hurt. I didn't sell and would have left a bunch of money on the table if I did. But I did think about it.
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You never go broke taking a profit. If you leave 10% on the table, so what?
- 1 Reply to snorton48
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I did the same thing. Great gains too good to let run. I'll be looking to buy again on pull backs.
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