If you want to see a really ugly chart, check out TAL. Barely got out in the green but the yield was nice. Now to reinvest the proceeds. It won't be in shipping.
That's cash position. I guess I shouldn't be doing this stuff after a certain hour. The proof reading part of my brain isn't functioning.
DH, I agree with you on municipals. One problem I'm having in another account which held only municipal bonds - straight up, not in funds, is when one is called, the replacements offer very low returns. The last straw was when the broker recommended a bond which would yield 1.7% at first call. Have been replacing called municipals with taxable preferreds. Best of luck to all.
DH, Yes I still have MUJ along with NEA. Both are municipal bond funds selling at deep discounts (14%, 13%) and paying about 6% tax free. Although NEA isn't a NJ fund. Together they're less than 8% of my total holdings so I'm not losing any sleep. New Jersey is, as our governor said, a failed experiment. I'm not convinced a turnaround is even possible. Similar situation as Connecticut. But the fact that MUJ's poor performance is matched by NEA lead me to think the problem isn't restricted to N.J. but systemic with municipal bond funds. I have no intention of bailing out of that portion of my portfolio but will try to ride it through. I've become accustomed to the regular income stream.
I'm on both sides of the table with traditional preferreds and floating rate funds. Both are down a lot. I feel like I just bet every horse in the race and still lost.
In response to budfox's thought about buying oil/gas names for at least a 5 year time horizon, besides the big integrated names, what do you people think of VNR ? I've put a little of the VNRBP in my accounts as it's a real bargain at this price but it will not be such a great deal if they're not around to make good on the payments.
DH, I just started a small position in mortgage REIT, ARI. I bought it as a mate to my NYMT. Funny how my property REITS are getting killed but NYMT has done much better. Seems like anything connected to energy or income ( in my case, pipelines, REITS and BDCs) has been trashed. Oh well. Taking tax losses where I can but not changing basic philosophy.
I've been doing my tax loss selling as I go. Currently am out of FGB which is a BDC fund, SNR, a senior housing REIT and TPZ, a fund of midstream partnerships and preferreds from power and energy companies. Will probably buy them all back after the appropriate time has lapsed. I try to capitalize on my (hopefully temporary) losses to accumulate capital loss credits which always come in handy down the road.
Keebon, thanks for talking me in off the ledge LOL. I guess this is going to be one of those stocks where depreciation clouds the easy calculation of whether earnings cover distribution. I hate when that happens. I had been a long time holder of KMP up to the conversion and never had any doubts as to their keeping the unit holders benefit in mind and I guess that still holds. Will not be too disappointed if they can't manage the promised dividend increases as the drop in oil and ng prices might put pressure on the drillers to pay lower transport fees. KMI is a keeper for now. I also own PAA and TYG, a pipeline fund.
I don't have any financial background so I feel I have license to ask a really stupid question. KMI is neither a partnership nor a REIT, so does this mean dividends get paid from earnings? Should I be worried when earnings are 15 cents and the dividend is 49 cents?
Sarge, MPC just doesn't pass the yield test for me. I've been trying to diversify so shipping and energy are the last areas I look at. Latest buys have been HQL in life sciences and BTO in banking. I'll probably go back into TPZ after the 31 day lockout and I figure out what the problem is with that fund. TPZ seemed like a super conservative energy income fund for an old retired guy like me but the chart is awful. They even hold a fair amount of preferred stocks as well as partnership shares. Discount is about 12% so perhaps It's a victim of Fed raising fears.
I wouldn't be counting those Iran chickens just yet. Email from my congressman indicates he's not going to vote in favor. Oversight of the agreement by Congress is murky but they're a lot more skeptical than the state department. If it has to pass congress, my guess is that extra oil hitting the markets isn't going to happen. JMO
Probably oversimplified but I can't justify being invested in the most expensive way to extract oil (deep water drilling) when crude prices have fallen so far tat even some fracking operations are cutting back.
DH, reading different accounts of their ( China's) various exchanges put the P/E at between 50 and 110. Throw in a bunch of inexperienced investors day trading their way to riches and even government support for trading on margin and I think I'm beginning to see how they came to this point.
As best I can determine from news stories and googling, stock ownership by mom and pop individual investors (like us) in the Chinese market is 85% of their market. In the U.S. Only 14% of the population owns stocks directly. It's not obvious what percentage of the market those 14% own but my guess is a lot less than 85%. Just wondering if this makes their market more susceptible to being whipsawed by amateurs. (As opposed to ours which is whipsawed by professionals. LOL) just entertaining myself as I don't have the stomach to examine my accounts today.
I forgot to add, up to $3000.00 capital losses can be subtracted each year against ordinary income in a joint income tax filing but you all probably know that already.
Sarge, the vast majority of my stocks are in a taxable account so I rarely skip an opportunity to harvest a loss to be used later to offset capital gains. Those losses can be carried forward indefinitely. Huff is right in that you cannot buy the stock back for at least 31 (might be 30) days or the loss is disallowed. Lately, I've had capital gains thrust upon me because preferred stocks from O and MET which were bought very cheap in the crash, were called.
I'm putting together my shopping list for Monday. I hold no drug stocks so I'm looking to buy HQL. A little late to the party on that one. I'm in a 31 day lockout for SNR and TPZ so those will have to wait.
Gambler, my take on RSI: looking at most any long term chart and high (over 70) RSI generally preceded a short term drop while low (under30) RSI generally precedes a short term jump. Longer term, fundamentals prevail but RSI is useful for pointing out short term noise.