U r as smart or as courageous as my friend. When any BDCs got to the points of being ridiculously CHEAP n they can continued their dividend they have nowhere to go but NORTH. Look at how much KCAP was up today n PNNT is a better BDD n it was up almost 2%. Therfore I have to resist in not selling of my PNNT too soon. WTI up 5.2% today, can PNNT remains so CHEAP for long? I better grab more quick. Time is running out.
I sold AINV, GARS n FSFR to take profit. Added DXD n QID. Bought SCO at 75.02 since it was down almost 10%. Oil just rose too much too FAST. I smelled a lot of price manipulation here n called this sudden oil bounce a fluke. Of course if oil continues to rise it would be very painful for me but investing very often is a gamble. My two accounts went up 3.5k today without any trading, indeed a very very strange day. I saw a big down day coming by the end of this week. J1's advice in grabbing some shorts yesterday should be heeded because when the market failed to respond to a 5.2% rise in oil price may mean troubles ahead.
Today WTI rose 5.2% or 2.44 to 48.70' highest since the end of April, they said it was because of glut easing n rise of global demand. I said what hogwash. Sadly Canadian dollar rose to 76.72 cents today. Good thing I exchanged my USD yesterday. The funny thing today the market did not follow oil price today. Only DOW up slightly at closing while other two indexes down slightly. Precious metal also did not follow oil price closely. iMHO the market is awaiting an excuse to tank.
Sitting in McDonald, reading today's WSJ where an article titled "Yield of 0% a first at 3-month T-Bill Sale" says buyers gave a free short-term loan to the U.S. Govt in exchange for a highly liquid debt instrument for their portfolio. It does not appear to me the Fed will raise rate soon. Like Clrodrick said, a perfect set up not only for the U.S. Govt but large U.S. Companies. Will we become Japan with a 0% rate forever?
It is nice to have an iPhone or iPad cause when u travel u can use face time n imessage with other iPhone/iPad users bypassing phone companies.
Thnx. Yea, some trees turned yellow n red. Winter is fast approaching Low around 14 deg C or around 46 deg F. Eating breakfast in the McDonald across from our hotel n reading WSJ.. There is a McDonald every block. Comparing with last year, prices in McDonald rose a lot due to a weak Canadian dollar About 1 US$ for 1.31 C $ but bank only gave me 1.28 n hotel 1.25. Everybody tries to make a bug.
Just found out I bought some DXD at 22.40 today after I drove around Toronto all day long. There r so many people walking everywhere late at nite at downtown. Tomorrow can be a very big down day.
PNNT will remain very volatile but very undervalued. I hold s bunch of it but it can drop 5% in a day. Prepared to add more. I hold a few PSEC but it can drop with uncertainty due to its planned spin off. FSC n FSFR, IMHO, are better holds if either drops a bit.
GARS is another good BDC n if u bought it last Fri when it made new 12 mo low around 13.3 it already rose back at closing. It is my no. 1 BDC pick.
Thnx for asking. First of all there us no such thing as a safe BDC and safe dividends. If u want "safer" dividends, then buy GAIN at 7 or lower, it always bounce back to 8.
DOW rebounded from down 258 points in the morning to being up 200 points at closing today, yet BKCC down 2.73%, closed at 8.91 today, that was a 0.25 loss in one day. If this trend continues, it would drop to and below $8 in no time and may be I would start buying some of it.
The DOW's range today was 16,013.660 – 16,472.770
Yesterday it closed at 16,272. At one point right after market opened DOW was down 258 points and then continued to rise and up 200 points at closing.
Sadly the shorts I bought could not be sold till next Monday otherwise I would be a rich man again today. Luckily, both the CMFN and GARS I bought today rose with the market. Also sold SCM at 10.11 to take small profit and it closed at 10.0. Even bought 943 shares of FULL, did not get my whole buy order filled. No wonder my smart friend gave up trading on it.
The DOW had a daily swing of 458 points today, that was very volatile.
With weekend coming, people were selling BDCs to take profit. I did yesterday, Almost wanted to buy back some FSC which should stay in a pretty tight range. If either FSC or FSFR drop BIG, buy a lot. Both are all right.
You probably should have bought some GARS today, my no. 1 BDC pick and it made new 12 mo low today. I did buy some at 13.39 and it closed at 13.80. phil also bought some today and thanks to him or reminding me. If it drops again next week, you really should buy some. GOOD BDCs always bounced back QUICK.
Hi, bonzo6, I agree with you to a certain extent. Like when TAXI popped 23% in a day recently and TCAP jumped 14% in two days, there was absolutely no way one would not sell any to protect profit. By continuing trading, one can lower the average cost of the BDCs in one's core portfolio. If AINV dropped again, I would grab a lot but if it bounced back 2-3%, I will sell off some. J