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Prospect Capital Corporation Message Board

thewisejman 1009 posts  |  Last Activity: 3 hours ago Member since: Feb 13, 2012
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  • thewisejman thewisejman 3 hours ago Flag

    I did know that but never experienced it first hand till now....Nothing good will come out of China....When their credit bubble burst, there will be a lot of hurts, not just there but contagion will spread globally.....

  • thewisejman thewisejman 3 hours ago Flag

    da bear, I did regret not offer them more money, in hind sight....but expecting the arrival of a recession in 2017 or the latest in 2018, I was very reluctant to overpay for any houses, just like those people who paid too much for their houses in 2005-2007, they were under water for a long time. Right now the best place to buy a house, believe or not, is Puerto Rico, almost half price and one can get a house close the the beach for 100k. J

  • thewisejman thewisejman 3 hours ago Flag

    I seriously consider buying some SO, GDX and PFF.

  • thewisejman thewisejman 3 hours ago Flag

    Also, a US recession is almost inevitable and with the pass of the Brexit and the continued deterioration of the Chinese economy, it would make it happens that much earlier. Usually a recession will happen within 12 months after a market crash, the most possible time of the next market crash will be between October 2016 to March 2017, therefore a recession will probably happen in 2017 unless the Fed would start cutting rate and/or having more QE2, which may delay it to 2018.

  • thewisejman thewisejman 3 hours ago Flag

    I did not necessarily buy DXD today just because of a 3 day holiday weekend, but if you take a look at one of my message, looking at the S&P range, basically has been trading within a range of 1810 - 2110. David Stockman said it better than me in his 6/30/16 post
    "The Curse Of ‘Wealth Effects’ Central Banking"
    "The robo-machines and perma-bulls are at it again, delivering another volumeless dead-cat bounce in a market that has churned sideways for 600 days now.

    That’s right. The S&P 500 first crossed the 2060 threshold around mid-November of 2014, and has made upwards of 40 attempts to rally since then—-all of which have failed to be sustained."

    If this is indeed true, than will mean there would not be that much room left for the current market to rise before the S&P would start dropping....

  • thewisejman thewisejman 4 hours ago Flag

    The 6/30 article by David Stockman "The Curse Of ‘Wealth Effects’ Central Banking " is a must read if you do care about your financial health.

  • thewisejman thewisejman 5 hours ago Flag

    Now I believe our Fed is really in BIG troubles, should they now raise rate or cut rate? I absolutely have no ideas.

  • thewisejman thewisejman 5 hours ago Flag

    You may wonder why England would announce a rate cut so fast after the pass of Brexit. I believe it was because they were already not doing well before the June 23 referendum and after Brexit was passed, they know very well a recession will appear soon, so they rather be proactive and start cutting rate now to stimulate their economy. But how much you can cut from a 0.5%? To 0% or make it negative. Unfortunately, I believe this is already too late because Japan has a zero rate for several decades and their economy continued to sink. I am afraid UK will enter into another recession in two years or less, as I had predicted in my previous posts.

  • When Brexit was passed, I had said their credit rating would be cut, it did. Both S&P and Fitch cut its rating and I had reported them here. I further expected England would reduce rate and probably have a ZIRP or a NIRP soon. Today, on WSJ "Britain’s central-bank chief said growth will slow in coming months and that further interest-rate cuts and other measures will be needed, even as he declared his confidence in the U.K.’s ability to adapt to a future outside the European Union. " "Mr. Carney said it was his personal view that the central bank would need to cut its key interest rate, currently 0.5%, “over the summer,”"

  • thewisejman thewisejman 5 hours ago Flag

    It also upgraded AUY and SLW.

  • thewisejman thewisejman 5 hours ago Flag

    Today:
    Credit Suisse upgrades IAMGOLD, Yamana Gold amid improved metal outlook

  • thewisejman thewisejman 5 hours ago Flag

    Of course, you cannot believe all these analysts. However, after reading David Stockman's post today "Price Discovery, RIP " it really scared me to death because all these sovereign nations kept issuing more bonds to the point sooner or later their debts would not be able to be sustained by their GDPs. Tomorrow, Puerto Rico would default on their GO bonds, so Obama came to the rescue and signed the rescue bill so nobody can sue them and PR can continue to function. How funny. Who would be next? I believe I may seriously consider adding some GDX, GLD or SLV tomorrow.

  • thewisejman thewisejman 5 hours ago Flag

    Two days ago, SLV, the silver trust, closed at 16.91, today it closed at 17.87, that was a 5.68% rise in two days, not the best comparing with other stocks/funds, but?

  • thewisejman thewisejman 5 hours ago Flag

    The funny part though is I just checked the closing silver spot price today and guess what it was?
    $ 18.775
    and more shocking, two days ago, on 6/28/16, it was 17.75.

    What is going on?

  • thewisejman thewisejman 5 hours ago Flag

    What surprised me the most is the sudden rise of the price of silver. I vividly remember just a few months ago, silver spot was around 14.50 - 15.50 and I did not keep up with it. Then when Brexit happened, I noticed silver price had risen above $17 per troy ounce.

    Just nine hours ago, this article "Credit Suisse Raises Gold, Silver Price Targets To $1,500; $18.75, Sees "Significant Physical Deficit" says:
    "Just days after Goldman threw in the towel on its bearish gold call, the gold bulls are crawling out of the woodwork and none has been more vocal than Credit Suisse which moments ago hiked its gold price forecast to $1,500 which the world's 3rd most systematically risky bank expects the yellow metal will hit in the first quarter of 2017."
    "Our silver price forecast increases by 12%, to $18.75/oz, in H2/16 and by 15%, to $19.03/oz, in 2017, following gold."

  • thewisejman thewisejman 5 hours ago Flag

    Did you notice the last time when that happened? "at the turn of the 2008 and 2009"

  • It probably surprised nobody when GOLD rising rapidly recently after the pass of Brexit, from the around $1,082 at the beginning of this year to today's closing gold price of 1,321.40. That was quite impressive but what was the most puzzling part was both US dollar and gold have been rising together lately. If you consider GOLD as a type of currency, then it should have different exchange rate vs each individual currency, when the value of that currency rises, the price of each troy ounce of gold in that currency will drop and vice versa. So how in the world would both gold price and US dollar both rise together? One author said it shows this was unusual time, another one this had happened before.

    According to one article:Why Gold And US Dollar Do Not Always Move Inversely?
    "The strength (or weakness) in the U.S. dollar is one of the most important drivers of price of gold. However, this is not always true and there are times when they rise or fall simultaneously. The positive correlation between U.S. dollar and gold occurred, for instance, from May through December 1993, from May until November 2005, and at the turn of the 2008 and 2009"

  • Reply to

    OT: Puerto Rico

    by tonofelephant 16 hours ago
    thewisejman thewisejman 8 hours ago Flag

    So President Obama signs Puerto Rico rescue bill but PR will still default their GO bonds tomorrow.

  • thewisejman thewisejman 8 hours ago Flag

    This was what he said in the beginning of this article:
    "The robo-machines and perma-bulls are at it again, delivering another volumeless dead-cat bounce in a market that has churned sideways for 600 days now.

    That’s right. The S&P 500 first crossed the 2060 threshold around mid-November of 2014, and has made upwards of 40 attempts to rally since then—-all of which have failed to be sustained."

  • thewisejman thewisejman 8 hours ago Flag

    In short, David Stockman was correct in pointing out we are not in a BULL market because the stock market has been going up and down in a small range of trading.
    For those of you who care about your money, I urge you to read his 6/30/16 article "The Curse Of ‘Wealth Effects’ Central Banking " which will give you some insight about the direction of our economy is heading.

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