Have been tied up during regular market hours last two days. I did close so oil covered Call for some profit. I do hold some unhedged GILD and set up drip on it.
All garbage BDC with omnipotent management that does not answer to stockholders deserve a SEC investigation as well as a rumor of one.
That said I bought a little FSC:)
Bull ! bear in mind Friday was simple profit taking after a stellar run up I would welcome a deep sell off but don't think talk of a silly 1/4 interest rate hike as the economy improves will deliver one.
Think about the investors who were the biggest losers during the 2007-present period . IMO it's those who sold on the bottom and haven't bought back in.Selling in fear is always a losers play. Naturally those who sold on top and bought back in were the biggest winners and they were probably few. Another winner is the person who rode it down and back up. I did taxes for some of these people who never or only occasionally look at a statement. At tax time they hand there tax preparer up opened envelopes. Personally I sold late and waited too long to buy back in. I will probably hold a lot of cash waiting for another 2008 that want happen in my lifetime. I have no fear of a little interest rate increase and will buy from those who are.
Those that are well invested would not need a quick market exit. Traders and those on Margin might have issues. It seems only those overloaded with short ETF would wish to promote a exit during a sell off.
TjD, That my sentiment. If opens big down, time to add ans sell Put on stock you would like to own. But often option traders don't jump off the Cliff as fast as penny traders.
Real investors don't have a problem in a downturn ,speculators ,Penny traders and those on Margin can have problems.
I believe you should not believe or trade on anything you hear, read or dream about oil . I see oil as long term positive , far long term perhaps less so and near term impossible to determine. Buy when you think it low and sell when you think high. I always like to have a little unhedged long oil just in case.
Looking forward to Monday, I have low balls buys in place as well as some sells. What ever the open I expect big volitale change. No plans to play any leveraged ETF /ETN because I'm currently confined to cell phone.
Inhirst, GILD ExDay is Wednesday Sept 14. Currently only unhedged longs are GILD, FTR and FSC. FTR and FSC ExDay Tuesday Sept 13. Will only add on a deep sell off. GILD is my only long term trade of the three.
Inhirst, I would not want to be overloaded in any BDC or Dividend stock . Some pulp articles are saying long term to be long equities and short Bonds. That I agree with but there might be pain-in the near term whateverthe the strategy. Keep plenty of cash and control your emotions on downturns. Only trade what you are willing to hold long term. Did I do that with FSC and FTR? Not really but will keep them small. My largest position is now GILD and I will let it get some larger at the right price.
Ock My house closes Sept 29. I was 100% in a Fidelity SP500 Mutual Fund and paid no attention to it. . I had a demanding job and no way to check other that sidled statements. I actually think that's the best way to handle a downturn.