I will hold out a bit more.Maybe if it goes under $4 and market is still a mess i might bail out at a big loss.
Any of you guys have a stop loss point.
My average price is 5.08 in my main brokerage account.
I'm keeping this even if it goes to $ 3 or lower, then I will buy like a maniac, even on margin. If it goes to $ 3, the dividend yield will be over 33% !
Dow Jones could drop to 9000 during this correction...
yield is 25% and rising, aod or advdx could get bargain hunters unless they are scared away by penny grapping HFT computers eroding the market. i sold today and might buy aod if it drops under 6 during a future panic sell off (i think the market will tank worst,because of computer nano trading effect) so i dont think we put in a bottom today. looks like the flash crash was a peek into the future. a omen..i might buy aod if it yeilds 30 again
I sold 200,000 of my 206,782 shares on May 6th when it was at $4.86. Since I originally bought at $4.50, I did ok. I am actually using the money to build a big Victorian house so I am actually very grateful to this fund for making it happen. Plus the dividends I received (reinvested) I really did quite well. The market is going to be affected by what is happening overseas and I believe it is not just a correction. However, It may be too late for those still heavily invested in this fund and they may have to just ride it out. Reinvesting the dividends would be a good idea since the share price is so low.
I reallocated. Over the past few weeks, I sold this, my leveraged equity funds, and many of my stock closed end funds and moved some $$$ into cash and some into bond and municipal bond closed end funds. I still own a few covered call equity funds, but overall I feel safer in bonds right now; stocks are not as trendy as they were just a few months ago.
The more popular bond and muni bond closed end funds like GDF, HIX, PHT, MAV, EVN don't usually fall until corrections are more advanced and the market gets oversold, so I think they may be at some rare low points and they now have high yields. I have no doubt they will come back up someday; stocks may have more upside, but I feel they also may keep falling and/or take more time to recover.
One stock closed end fund I switched to today is ETV (tech.) Usually very popular, goes ex-div in March and at rare low point today. Another I'm looking into is GGN (gold.) It very rarely sells off, but it's getting there.