kel, Hopefully, we will see some sort of an uptick, but you are right about this possibly of this becoming the Britex contagion. Friday was a busy day as the market had a number of things going on, so the combination of everything combined may have contributed to the depth of the sell-off. I suspect, that like with most crisis, we will see some type of rebound occur this week.
bacon, thanks for the full story. PSEC management, IMHO is one group who does not give a flying fkk about their shareholder. I have never seen a company tell shareholder to go fly a kite like these folks do. JMPO.
doc, you are 100% correct it was PSEC. PSEC mgnt set a letter to yahoo complaining about some bad post and Yahoo shut it down. If I remember it was a gang of posters lead by a poster called packman, who were responsible for that deed. I think the board just recently open after a 6-month closure. In any case, it was a lot more serious that bad's childish post. Put him on ignore with the other sickos.
Actually, IMHO, this situation may end up helping this board. I know my investment account, which a lot comes from here is up a wee bit, but unfortunately, my growth account managed by the pros is down 4% . Go figure.
Phil, fortunately not a complete surprise to me as most late polls indicated is was doable but close. I do like your and cloridick's ideas of grabbing some UK stocks on the cheap. I will review your suggestions. Thank for the info.
clro, great idea, I had not thought of addressing the situation along those lines. I think I may just do that.
Agree, this is just a knee-jerk reaction as money now seeking safe havens. Possibly, after the first reaction, it may help US markets. JMPO.
j, Totally agree. The last polls I read showed the "yes vote" up by 1%, but 7-8% still undecided. So, it is basically a coin toss. Personally, I think they will exit, but that just gut feel and based on nothing concrete. In any case, it could get nasty tomorrow.
j, don't think we will see $18.93 today. Remember this DXD is at a 10 yr low. How far can it rationally drop?
Tulas, think you are right about WMB. ETE jumped big time yesterday on rumour that they can get out off the deal based on some bad tax info advice, by WMB's people.
Hey folks, Today I am researching the HTS -NLY merger for some arbitration benefits. NLY has offered for each HTS share the following options.
1. $15.85 in cash.
2. 1.5226 NLY shares = $16.22 at its current pps.
3. $5.55 cash + 0.9894 NLY shares = $16.08 at its current pps.
Effective date of acceptance is 07/11/2016
HTS currently at $15.72 share and NLY at $10.66 share.
NLY does go X on 6/28/2016 for $0.30, which may or may not apply to the equation .
NLY stock, IMHO, at a worst case situation, after the x-date would have a projected pps of $15.92, on 07/11/2016.
Here is where I set now. I have 2k shares of HTS shares, which I bought pre X-date for $16.21 and did capture the $0.45 divvy from HTS.
Those are the facts, I could use some of that big brain power out there on how each of you might play this scenario. Any thought or ideas are appreciated. .
phil, thanks for the idea. I finally just read imt. IMHO, 55% is really down there, but that is not to say that 30% is a crazy figure to use.
My general, If I may interject, I realize cooper at one time posted a lot , but IMHO, cooper is a straight shooter and deserves our respect. If for nothing else than actually following up and doing what he posted he would do. It has helped FSC stockholders immensely, again IMHO.
1Lt. da bear
j, that's the way I look at it. The bookies feel that the odds are in favor of the UK voting to leave the EU. three to one to leave.
j, I see great minds think alike. : ) I just restarted a new DXD position this moring at $18.16. I like your 3% double down concept, but IMHO, any accumulation will probably be limited to lest say, $17.75 and above. DXD hit a 10 year low this month at $17.88, from which it immediately rebounded. Again IMHO, we have kind of found the bottom of all that unfounded enthusiasm and euphoria in the market. Personally, I find it difficult to comprehend that the DXD has sunken to such lows in face of the reality of the health of the American economy, but it has.
My thinking on a DXD position at this time is as follows. Looking back over the last 5 years of the DXD we see a continuing downtrend as we move further and further from the 2008 market crash, but in 2015 it seems to have developed a base in the $20 area and the pps hovered around that figure for all of 2015 into 2016 where we saw a move down to the $18 area in April. IMHO, much of that attributed to the Fed talking a tough game, but then playing softball. If I am correct the new base will be that $18 figure for the rest of 2016. The interesting scenario is that in both 2015 & 16 there were rapid upward spikes that lasted a month or two before retreating. I am hoping to catch one of those again before 2016 ends. On the other side, IMHO a steep or prolonged decline below $18 is not in the cards this year as the economy simply is not in condition to grow rapidly. These are just some of my personal thoughts for discussion. What do you folks say?
J, keep on pumping out those ideas and thoughts. They really add value to the board. If we all contribute ideas we find interesting, it sure opens up the options available to us all.