I think it's more like 75 days. Many companies don't report their year end results for a great deal longer than 45 days.
I added some TZA near the close.....shorts the Russell X 3..........ended the day 63% in cash, TZA and SPXS as hedges, and my IRA account at an all time high.
Actually sold them both yesterday, back in today about 3% cheaper each. Have traded each numerous times, mostly for 3-5% profits.....into HK @ 3.47 and SFY @11.53.
Feels that way to me. Still holding my "short the market" position in SPXS. Meanwhile, on my few longs I've made about 5 X what my short position is down. A few sells today put me at 70% cash right now.
I'm very skeptical of this big rally today.
MCC earnings report comments....
--NII of .42
--Net income of .36 includes about $2.8 million of UNREALIZED portfolio depreciation.
--Div continued @.37....x-div on Feb. 24.....pays on March14.
--NAV now at $12.68, was 12.70 three months ago.
---Total liabilities about 42.4% of Total Assets.
I think it would be OK around today's price. You may want to wait for the EPS report. The only negative (I think) is that it 's trading at a premium to its 12.70 NAV. That will be updated in the report but I don't think it'll change very much.
As of right now the div is covered by the NII, yield is quite good, and they just did an offering so that's off the table for awhile.
We may all need some good luck fighting today's battle. I may well sell SPXS before the end of the day if nervous investors sell going into the close if they are worried about the Friday JOBS number pre-open.
SPXS is a nice trading vehicle. Usually trades at a one cent b/a spread. With the 3 X short plan, one doesn't have to put up big money to get the protection.
Maybe FSC mngt looked at some of the deals (or similar ones) that PSEC did and rejected them as too risky. One never knows what didn't happen.
I just bought some SPXS (shorts the S&P 500 X 3) @ 37.24. At the time I bought it the DOW was up about 153 and the S&P 500 was up about 18.00.
Right now DOW up 144.
I sold 2 oil stocks today (SFY and HK) both for small profits. Will hold MCC into the EPS report and see how that washes out.
Have to wonder if investors may sell going into the close if they're concerned about tomorrow morning's jobs number. I might put a short on near the close (would be a bear ETF) depending on market action later today..
Now at 13.74...up 28 cents. Earnings come out after the close. I think there's a chance that the 1/4ly div might be raised to .38, from the current .37. NII should be above the .38 level. Current yield with the .37 div is 10.77%.
Kel..........holding MCC and FSC
NII was .26....above total 1/4ly div by 1 cent.....good
NAV unchanged @ $9.85....................................OK
-----All liabilities are 44% of total assets...............OK level, although they might be squeezed if they want to expand as they won't do an offering below NAV and they can't go too much higher with the leverage.
**all loans in category 1 or 2.........excellent
Shares outstanding.....147 mill vs 103 mil on 12-31-12......still digesting previous share offerings (similar to PSEC in this area)
Nice report, good, not great. Looks like the market likes it too.....Stock 9.58.....up 17 cents
Just my opinion............Kel
Or did AVNR request that once things got so close together. Any day now...........