There nothing magic about 15 cents or 3 cents. To relate a story I was a employee and traded YRCW. YRCW dropped from $50 to 3 cents. As it was going down I pulled the trigger at 9 cents ,it dropped to 3 cents and bounced to 6 cents and I lost 33%. With LNCO pulling the trigger at 15 cents might be a mistake if it wants to go to 3.
I also enjoys Slicks posts and have profited while learning a bit about charts . But our ego gets the best of us sometimes,it's the human condition. I have no intention of touching FSC and PSEC in this market environment . I have no advice for those deep underwater. I,m deep underwater in NRF but I,m holding on because it looks like GS might be working on a buy out or orgasional change. I am sure to be screwed buy probably much less than selling in fear at the current low. So one has to make a decision , and take responsibility .
Shineola, I like your login. Just waiting to see what happens when WTI has a big up day. I only put pocket change in the slot and pulled the handle.
I have learned to always expect the worst from PSEC and FSC. I bet you wished you were not in it. Its weird PSEC gets a bounce while reporting a loss while covering A Dividend that's been cut. So people are buying it and can count on 25 cents worth of Dividends and another sell off going into the next earnings report. Best of luck.
News blurb: Janet was said to indicate that future interest rate hikes will depend on if the turmoil persists . I have little idea what she means since IMO most of the Turmoil is generated by the Fed.
General, Please explained how to use Due Dilengence to tell if a BDC will do on a earnings announcement? Many who have lost there as on this stuff would like to know ,self included.
Why not invest in a better managed and capitalized midstream like EPD and MMP. They easily earn there Dividend and invest income back into there operation and borrow less. I do own both EPD and MMP because they are different and don't compete with each other and I think they are the best available. I,m no expert it's just my opinion.
Slick is a good and careful trader and has offered good trading ideas. But everyone should ignore anyone they choose.