I,m currently trading both FSC and MCC and bullish on both. Sold both Friday waiting to buy back. I collect Dividends until the price shoots way up and I get greedy , because I figure it will revert to its Mean. Both has a 20cent gain Friday, had held FSC for over a month and MCC for four hours. Currently both are falling.
There are probably a few wise individuals and institutions in Europe that do not want all there cash in European stocks. The negative interest rates in Europe and leading to a exodus of cash per article in WSJ.
There should be little fear or concern about Fed action. After all most if not all went to Harvard and are real smart:) Most have a lifetime of a nice salary from various Government or educational institutions. They know all about how our economy works, they learned it all at Harvard and are very smart. What could go wrong?
I might go to cash !
Closed End Funds issue a 1099. Only partnerships and LLC issue a K1. With a CEF there is not a guaranteed buyer as in a Mutual Fund or ETF. Might lead to less liquidity in a market collapse .
You are aware Uncle Carl is no dumb #$%$. He might hold his shares and still short the hell out of it to cover the shares loss. No reason he's not doing the same with RIG.
you might consider a longer time frame, for instance a few years, Collect the Distribution and be patient. This is a time to trade, add on a low day and sell some on a up day constantly lowering your basis. Currently holding EPD and KMI, looking to add PAA at this level.
No one cares who lies and who don't. On a MB we all can be brilliant,young,handsome and rich with big peckers :) No one cares.
I did sell 3/4 of my shares Friday and will hold the balance to see how it works out. If the Spin off please the market the results will be very good. Cash is leaving Europe because of negative interest rates probably a bunch will go into US stocks and Bonds. So i have " cautious exuberance".
Chesapeake (CHK) shot up yesterday when Uncle Carl increased his stake at a new low. Its settling back now on volume of over 10 million by 10am. I,m considering a small non major oil position. Also looking at FSC,MCC as they settle.
Greatbarf,Long time, no see! Uncle Carl says time to taste.
Markfag, Unlike yourself Uncle Carl might buy more than one stock at a time.. I hope you are in deep when he moves.