Sold TICC at 10.76 to take profit. Bought it at 10.58 on 12/3. I did mention it here. May be able to buy it back before its ex-div date on 12/13 and capture its 0.29 dividend.
Now I feel better, with 250k dry powder and some DXD, sitting and waiting, I am in a good situation. Cherry picking when the time is right. Will buy a LOT of FSC if it tanks some more.....No FEAR
Sold NRF at 9.98 to take profit. Already went up some 7% since I bought it, thanks to Wayne. No point to be greedy with this market. May regret later or NOT.
DXD today when DOW shot up some 150 points. Bought some at 29.67, probably a bit early, but could not afford to wait too long, this market can indeed change very fast. Earlier, my account shot up and as DOW continued to rise, it actually came back down, talking about strange. It may continue to drop till Dec. 23 when that will be the best time to buy if you want to ride the Santa rally, then sell it on 1/3/14. If the FED does not mess everything up after their 12/17-18 FOMC meeting. This market will be very JUMPY until then, guaranteed. Therefore some DXD just in case.
With due respect, if FSC will drop to the $8.50 like you said, it will be another 9% discount from its current price of $ 9.35, that means it will be trading with a 14% discount from its NAV of 9.85. For that to happen, the whole market and the BDC sector will tank badly. I believe it may be better off for you to go back to PSEC and trading your one-trick-pony stock. After all, you have been predicting the coming of the BLACK SWANS in that board but your swans never come.
With due respect, may I ask if you sell FSC now at its 12-mo low price, forsaking its 10.69% yield (at its current price of 9.35) with a 5% discount (from its recent NAV of 9.85), where would you invest your money to get similar yield and buying discounts?
If you want to day trade, watch these three oil refineries stocks:
HFC PSX MPC
if they drop big at any single day, buy some. They always bounced back. If you get stuck, their long term growth potentials are even better.
I was kind of surprised to find out my CASH position was a lot higher today. Then I found out the shares of HFC I bought yesterday at 45.66 were sold earlier at 46.68, a $ 1.02/share profit. Wow, that would be two days in a ROW making good money. Now I just put in a buy order to buy some back at around 45.50, hopefully soon.
I bought some at 15.43. Sorry, the correct NAV of it should be 16.89 instead. That means it was being traded currently with about a 8.7% discount.
Every pref. stock CEF in my watch list except HPS was in the GREEN today. At its current price of 15.44, its yield is 9.50%. Its 12-mo low is 15.37 occurred earlier today. Its recent NAV is 15.89, that means it is currently traded with about a 8.4% discount. Comparing with its sister funds' yields: 9.36% and HPI, 9.42%, it is a very attractive buy today. Of course, it can continue to tank, but..................
Year end capital losses sales continue. Now would be time to buy and regret later. If you do not buy now when you are going to buy? Unless the FED will announce bond tapering or hinting a bond tapering soon after their next FOMC meeting on 12/17-18, I believe KFN will rise back above $ 9.60 soon. If it drops, I will buy MORE.
Pref. stock can and will drop worse than anything else due to some time a very illiquid market (very low volume) and when people get scared, their sell off will be like a stampede. Therefore, be careful with some of the REITs pref. stocks, don't buy too soon unless their yields had become irresistible. Keep an eye of CLNY-A, if it drops below par ($25), closer to $24 or below 24, it would be a great buy. Wayne like AGNCP, but I do not like to buy it a above par with such low yield. I hope BCS-A, B, C will drop below par and I will buy a bunch, They are highly rated.
It is true that some time insider buys mean a lot to the future potential of a stock. But some time many insides bought and sold at the wrong time to the point that it was almost hilarious. They are articles that actually said when insiders sold their stock, it may be time an investor should buy some and vice versa. In that regard, take a look at the insider buys on NLD, it is unbelievable, one insider bought up to 1M of its stocks in one order and most of the buy orders are indirect buy orders too.
Mr. Phil: You are correct in saying that you should never trust nobody but yourself because after all the person who cares about your money is yourself. However, what makes the stock market and trading so intriguing is that nobody knows what the future will hold, for the overall market or for an individual stock, otherwise ALL of us will have become billionaires like those 12(?) old men sitting at the front row in every one of Buffet's shareholders' meeting. I found it fascination is the first two articles that were published today had exactly the opposite view, first one believes FSC will soon rebound but the second one believes it will continue to drop to around $ 8.50 because it still cannot sustain its current 0.0833 monthly dividend. Almost opposite opinions regarding FSC were expressed in this board, some believe at its current price, it is a good buy, others said it would continue to drop...
It is this type of uncertainty makes investing and trading intriguing. My thought is: why would so many investors will buy stocks such as FSC when it reached its 12-mo HIGH because of its yields, yet when it dropped to its 12-mo low, nobody appeared to want to touch it, even with a 10% yield, I found that quite illogical and therefore amazing.