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Fifth Street Finance Corp. Message Board

  • tonofelephant tonofelephant Mar 14, 2013 12:20 PM Flag

    ot - Wiseman - buy PSEC

    Wise, you might want to consider buying PSEC now. I just sold all of my stake. That is normally a sign that the stock will rise shortly afterward.

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    • That is simply priceless, tonofelephant. That was how I used to feel, it almost seems every time I sold something they would continue to rise and if I bought them, BOOM, they tanked. That is what happened if you tried to time the market. Well, right now I am not going to trade anything that will not pay high enough dividends (i.e. minimum 7%) and will not buy them unless they drop 1.5% or more in one day. That way, if I get stuck I will at least getting pay for my errors and if I am right I will sell them for a quick profit. PSEC may very well go up all the way to $12 since there appear to be more and more mad buyers who bought it only because of its yield but now it was traded above its recent NAV of 10.81. I am not touching it. I would rather buy AGNC or MTGE. I actually bought a bunch of SLRC the other day when it dropped. Now it rose again. It is better than PSEC. You should grab some if it drops. I also bought back some COP today because I am tired to wait for it to drop. Now I bought it, it will start dropping. LOL
      GL J

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