at 10.61 today, no point to get GREEDY since I bought these shares at around 10.03, now it is the time to retreat and take profit. Knowing when to sell some time is as important if not equally important than knowing when to buy.
Now, before all of you are going to give me a thumb down for selling my shares today, please understand that I am not saying PSEC is not a good BDC to hold for long term. Actually, it may be one of the most undervalued BDCs to buy and hold at this time. However, I just do not see it will rise above 11 any time soon this year with all these new shares being issued in its recent SPO. Compounding with the fiscal cliff, I really believe it will drop to or below $10 by the end of this year. I do admire all of you who are long-term investors who have strong stomachs to hold on to PSEC. I don't.
Now when PSEC starts dropping five days in a row we will see who are real long term investors or who are just going for the ride for a high dividend. If PSEC rises above $11 (if FC is solved), then it will definitely serve me right. I am happy with my taking profit today though. I bought TICC two days ago at 9.78 and sold it today at 9.97 earlier only saw it rose to 10.05 (right now traded at 9.99) but I had no regret. Profit is profit and you can never time the market perfectly.
I am not willing to hold on to too many BDCs in this type of market despite their high dividends. REITs would be much worse if there is another market correction. No stocks will be exempt but just how bad and how fast they will drop. Beware and buy some insurance especially if you are holding tons of PSECs plus other risky BDCs and REITs.
Wrong, actually there will be more comments when PSEC starts tanking to tell all of your brave souls, "I did tell you so" LOL
It is really funny that so many of you had to post so many messages showing all these insiders bought this stock and all these sell-serving messages to predict PSEC will rise to $12 soon in order to cheer yourself up. Why?
If you have so much confidence in this stock and believe it is still underpriced, you should BUY BUY BUY just like Cramer yelling at his Mad Money show. We will see how brave most of you are when PSEC drops five days in a row and I believe it will happen if the Fiscal Cliff fiasco drags on, guaranteed.
Jade will comment on everything all the time no matter which way positive or negative he feels any given moment. Too bad you don't have access to the history of his posts before his account was deleted the last time.
Not really, when PSEC started dropping, like today, I will say,
"I told you so".
Open your eyes and look at what happened to the economy and if you think all these changes in tax laws will not affect your or the market, think again.
Yikes! You sold at $10.61, you suffer from the same malady I have - selling too soon. Not me, not this time. I'm in at $10.85 and as long as the dividend holds, I see no point in selling.
Sentiment: Strong Buy
As if liquidation carries no risk? If you believe the fc unresolved you should not be long any equities. Short Etfs short short short. Why do you bother telling us your daily moves. You sold half at 10.61 prior to ex now you sell the other half at 10.61 absent divi rights. So you made some money day trading. You keep hyping your oil stocks and in the same breath are paralyzed by the fc. You cost your self 10 cents and likely much more as your basis was excellent. This is not one to bail on as the books are clean and growth is clear and bright as boehners smile
Sentiment: Strong Buy