Slick ,PSEC rarely runs up to sell on the day before ExDay . Many trade the stock and sell too early thus killing PPS on the run up.
I dibbeled my dibbies this month and will buy some more probably Monday or Tuesday along wth the Slickone. Also plan small buys in 7-8 other BDC and Oil stocks.
Greatbarf, my bet early Jan profit taking and then a steady rise to earnings. This will be the first earnings since the merger and have no idea. With KMP earnings did not matter but think they will with KMI. I will probably sell before New Year and buy back after profit taking.
2014 was also my worst year every thanks to big losses in petroleum and BDC did not help. looking for something like breakeven to 2% gain. It could have been worst and 2015 looks worse from a distance. Planning to be come more passive and let Fidelity earn there income elsewhere. I prefer to live a more modest lifestyle and not spend my remaining years hovered over a computer.
Looking at Oil ETF for long term hold. looking at SPDR XLE and Fidelity FENY. FENY has lower costs and trades free for me. They have basically the same holding and i would not have to pick the winner. This would be a basis oil holding but would add individual stock when Divys are cancelled or cut perhaps. Any thoughts or other favorites?
the lead poster has posted the same stuff on different MB for years. I put him on ignore.
Handjobfagmark acts like a bath house sheet-packer. I care less about the Dividend,I want RIG in business when oil recovers and I pocket a humongous Capital gain.
With LINE/LNCO iam waiting for a Distribution cut before buying but picking up discounted Bonds for income. I think the folks that invested for the Divy income are no longer in the building. A working company when oil recovers will provide a nice Capital Gain to the patient investor. How patient? Perhaps years, perhaps very soon.
Kel first brought SFT to our attention and some of us traded it . IMO which is very uninformed SFY is a weak shale play that might not survive a long oil downturn. But Kel tell us they own real estate which will be valuable when oil recovers, whenever that is I have not a clue. Swifts first Bond matures June 2017. If the downturn is long term they might Default which might lead to restructuring ,refinancing or perhaps BK. That first bond Cusip870738af8 is heavily discounted and might become more so . The last price was $60.50 and yields 31.7%. That is a 39.5% discount and $605.00 for a $1000 of debt. Swift valuable real estate assets make it interesting. The Bond holder might have to wait a while perhaps a long while but the value of the real estate would eventually make him whole. Also this downturn could be of a short duration and the redemption would move smoothly. When the discount gets near 60% a 40 cent on the dollar play might be worthwhile.
The two LINE a bonds I bought two weeks ago are up 6%. With these Petrolium Junk Bomds I want numerous small and no large positions.
While looking at the Portfolios of XLE and FENY I noticed there portfolio consisted of the same major oil companies . These major oil companies have not corrected near as much as The rest of the Petrolium market. Most if not all the majors report earnings by the end of January. I might wait for earnings with the possibility of buying lower on a correction or start small and add after earnings.
If a company sells a asset are the shareholders compensated? I don't think so,not directly anyway. When PSEC spins/sells assets to proceeds goes back to the company . I think the idea is to move some assets that might work better in a a non BDC structure and provide capital to maximize what works best. I can vision more high value investments ,stock buybacks and a special Dividend perhaps ROC. If it's handled correctly it can smell like a rose.
I listened to many talk of GILD for a length of time but held off for the second day of tanking. I also added some PSEC and bought a insurance Put for my KMI. KMI is at a all time high and i thought there might be profit taking in the New Year. I also would like SPY to hit $210 before buying a Put on it for same reason,
Kel, I buy very few Put and do what feel right. The KMI goes Ex late January but i expected a profit taking dip early Jan, if so i will add and at least take to earnings which is just before Ex. Buying Put is expensive insurance and i keep it to a minimum.
I am holding the shares but did buy a Put to cover profit taking downside after New Year. Profit taking will give me a buy signal to add.