I had to look back to see if I remembered correctly about betting someone here on the Sept rate hike.
It was July 26th? - my how time flys.
On Oct 1st, one of us will be a buck richer.
I believe the Fed has to do something, but they won't.
Well, so far, I would use the term "correcting" , not crashing.
To my way of thinking:
5% = pull back
10% = correction
20% = bear market
30% = crash
This is a very bullish day for financial media as they can make more noise than usual and more noise means more trading.
I added a bit to one of my core ETF's, an S&P 500 index fund, at the close.
As for FSC, it's held up pretty well - considering.
Still holding way too much dry powder, so I consider myself prepared for a -30%.
I never checked that message board, but can see the posts from your link. What's the reason why no one can post there anymore? It can't be because of the inane ignorance and name calling, because the Boeing board would have been banished a long time ago. If you have time to waste and want to have a pathetic laugh or witness the bottom rung of political intercourse try there. There's even a guy who picks today's winner, claims he bought it yesterday, then compares it to Boeing on a daily basis.
High yield = high risk = high adrenaline. In at $6.14 and will hold at least until 12/2016, when I'll decide to sell at a loss for tax loss harvesting or keep if it appreciates.
I own the lightly traded BDC ETF BIZD too. Risk is less, since it's unlikely all the BDC's will go belly up, but any individual company can. I couldn't resist FSC at the price I paid, because I THOUGHT it was a great price. We'll see.
OK, I'll put you down for a buck too.
I agree with what you're saying, but that's a fine line between the two evils. And thankfully, we're not Japan.
Just checked my confirmation and the order got filled @ 6.14. I don't log into my account on my iPad wifi, I always use a desktop. Fidelity filled an order in my favor - I can't remember that happening before - but there's that memory thing again.
Doh, I forgot about that, that's exactly what happened. I't's happened to me so many times on these long term orders, you'd think I'd remember. Oh well, it llooks like I'm in here. I hope this isn't another case of getting cut by the falling knife syndrome.
It seems the Fed IS hell bent on doing something, irregardless of what's going on, but I can see another excuse for crying wolf and delaying until the end of the year. For a buck, I'll take the action ;-)
Maybe tomorrow I'll own some FSC again. The last time I owned FSC, it was paying about 10% and went down 11% for the year, when I used it for tax loss harvesting. It was kind of a good way to use it against taking some gains and almost break even on the investment. Anyone else do that?
I reported a while ago that I had an order from Feb to buy at $6.26. Well my order did not get filled and when I checked it, it was for $6.20. It the recent past I've missed several orders getting filled by a penney, only to watch them rise and never revisit their lows. (Except for a Europe ETF, that I got way lower on July 8th) So if history repeats itself, look for a bounce.
I was so sure that my order was for $6.26, that I'm worrying about dementia setting in.
Down 3.28% on BIZD, so I wouldn't mind a bounce in the BDC sector, but I would also feel comfortable owning FSC @6.20. This sector has been beat like the fed fund rate has already risen. I'll bet anybody a dollar that rates won't go up in September.
Hey guys, long time out of BDC's. I placed an order about five months ago for the BDC ETF BIZD for 17.37, thinking that it would never go that low, but it got filled today, so I think I should be happy with it.
I also noticed that I had placed an order for FSC at 6.26, again believing that it was a pipe dream - maybe it is, but I think I'll keep it until it expires in August. So what's happening with BDC's lately? They've been beaten like a Greek stepchild. Have investors been leaving in anticipation of an interest rate hike? If so, it seems like the first quarter percent hike is built into the existing share price. I hold longer than a year, so I don't mind short term volatility.