I wonder if we are in for some minor interst rate shock here on preferred.10 year has been rising quite a bit off it's recent low.
I was looking at JPQMP vs HUSI-H (25.27) vs BAC-Y (25.21).
Very hard to tell how much upside there is since HUSI-H and BAC-Y have a slightly higher yield so in theory they should price slightly higher.
JPM-CHASE should be a more secure company. You know to big to fail. : )
I Bought some JPQMP in my E*trade.
I'm willing to toss the dice on it.
It does show up as of today in IB, but I still can't buy it in IB.
Weird.. I opened a ticket with IB.
They said they don't support Grey Market tickers/trading.
Which is kind of shocking to me since they are a hard core trader based brokerage.
I'll throw in an order through E*trade tomorrow.
Frustrating.. E*trade see's it no problem. Grrr.
#$%$ is going on with IB.
Either of you using Interactive Brokers?
I have OTC selected, but I can't find this one.
Quantum show this under "other OTC", so I'm also not sure if OTC covers that on Interactive Brokers??
I like CHS Owen as a preferred because it's not a bank.
I'm holding CHSCN in my main for dividends.
Most of my other preferred shares are banks (Barclays, Deutsche Bank, Wells Fargo, etc).
It's nice to be able to get something not banking related.
Reits are the other one that have pushed a lot of preferred in the last year or two, but I don't have any mreit preferred stock now.
luvpizzasj, I've been trying to sort out the interest rate issue.
With Europe, I'm not worried about the long.
If the fed raises the short a bit, is that going to inpact prefered stocks?
I can't find any data on this.
Just as an example, lets say the fed short rate is rased to 1%.
How does that effect my prefy paying 7% ??
The whole interest rate scenario has been a bit of a worry for me.
But at least with Europe doing QE recently.. I think global rates on the long will stay low.
Weird..bkmrp isn't showing up yet in interactive brokers.
It gives me some cryptic message when I try to pull it up and no chart comes up.
Ye thanks for all the prefy talk this week.
I grabbed HUSI-H , CHSCL , and CHSCN earlier in the week.
Been slammed at work so no time to trade today or yesterday.
Will start unwinding them Monday unless they all tank.
Thanks Reik. Ye interesting action there on husi-h.
Will keep an eye on it Tuesday when the market re-opens.
It's also probably not a bad one just to hold for a while for stable income since it qualifies for 15% tax rate.
6.5% yield on it aint' great, but bonds aren't doing so hot right now so probably better than bonds for stable income.
Google symbol: CHSCN
Don't know why but it dropped a noticeable amount or a preferred stock today.
25.75 -0.55 (-2.09%)
Should be a good chance to add a prefy if anybody wants a stable income prefy, or even for a flip.
This sock typically trended in the 26 - 27 range.