Was looking at LNCO today (Tues.). Interesting, but a little extended right now. May get in if it backs down a little. This Iraq situation has given quite a "shot in the arm" to many oil stocks.
Just got into TZA @ 14.57+ (ETF that shorts the Russell 2000 X 3). A market that can't go up, will probably go down. DJIA up 22 points right now. Russell up almost 1%.
I'd consider it more of a yield play. It's somewhat of a hedge, but nowhere near as effective as a Bear ETF whether single, double, or triple "strength."
If you compare its NAV movement to other Eaton Vance CEFs like ETB, EOS, etc., its performance isn't all that impressive in rough markets.
Current NAV is 12.59. Pays .093 monthly....goes x-div on the 19th. Yield = 9.78%.
Have traded (and held) ETJ and others like it (Covered Call CEFs) scores of times since 2004.
Looking at some of those offshore drillers. NE and ESV at the top of my list so far. SDRL interesting but their debt ratio is of some concern to me.
Great news. I have a small position bought at $73~ in my regular (seldom trading) account. I consider it a minimum 3 year hold.
Just Google it. Then go to Russell 3000 additions / deletions. Most BDCs are listed under deletions. List will be updated again next Friday after the close.
Kel...............not a PSEC holder....holding FSC and TICC
Just Google that..........then go to additions / deletions. Most or all BDCs are listed under deletions. This is a PRELIMINARY list that will be updated again the next 2 Fridays after the close.
All this might already be factored into BDC pricing through compensating short positions, options, and other forms of hedging. I can't fathom that large holders would just sit on their hands and allow their head to be handed to them on a given date.
Just my opinion...........................Kel
I held ISRG when it was still a developing company back in 2003. As they were on the cusp of turning profitable they did a 1-2 reverse split that took the stock from ~$6 to about $12. This allowed them to show better profit (in cents per share) immediately rather than wallow in an area of a few cents per share profit for a few years.
ISRG went on to hit $100 in a little over 2 years, has since crossed over $500, and hasn't ever split the stock again (now in the $396 area). They now have about 38.4 million shares outstanding.
With AVNR's large share count of 150 million +, when they do turn profitable, it'll only be a few cents a share and will be subject to "rounding and part cent" errors for quite awhile. I think a mild R / S would not be an evil thing in the near future as AVNR approaches profitability.
Of course, this would all be a moot point if we get bought out anytime soon.
I am a long term holder of AVNR (since N approval) and not a shorter as some will accuse me of.
Haven't been here in several months. Looks like a good bottom forming. Multiple bottoms above 1.00. Even though the ATM was approved last month, it appears they have a more than adequate cash position ($40mil +) to last many quarters. Cash burn around $4 mil per 1/4.
In my regular account I just hold it. Have held it continuously since January of 2013. I like the ROC, which was about 75% of the distribution in 2013. The yield is fairly typical for a CEF that holds MLPs, except for some that are 2 X leveraged somewhat like BDCL.
As a CEF they do use leverage in the 25% area. The call options they write probably make it a little safer than other CEFs that just go long the MLP group.
I also hold CEN and NML that hold MLPs and pay monthly in my regular account.
Bought FEI near the close. It's a CEF that holds MLPs and writes call options on about 35% of the portfolio. Trading about $1.70 below its NAV (symbol XFEIX). Core holding in my regular account. Pays monthly with a 6.47% yield (raised twice in the last year).
Offshore is 100% correct. I'm thinking about buying some near this 9.47 level. Is .31 below NAV.
Also holding FSC which went x-div today too.
Worst in my lifetime too and I've been around since Harry S Truman.
Just bought some GOOG today, first time ever. Will likely be LT hold.
Great job. I was in MU very early (under $10), but also left way too early (around $12).
I did buy some ONNN (chip stock) today (June 11)@ 9.05. Nice EPS estimated growth with .80 average EPS estimate for '14 and .97 for 2015.
Sold TZA again @ 15.21.. Was in at 14.86. Two profits in two days. Will lay low awhile on the shorts. Looking at PSEC around 10.27. Missed the 'big' move.