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A Quiet, Short Day

A Friday after Thanksgiving in the U.S. The trading day ends at noon (central) for equities–bond trading ends an hour later at 1 p.m. (central).

Not much is likely to happen today–although we have a little economic news hitting at 8:45 a.m. (central).

Don’t think I will do anything today market wise–can’t say for sure because sometimes crazy things happen in relatively illiquid preferred stocks and baby bonds–a big price drop on a couple hundred shares of volume may present an opportunity.

So let’s finish this holiday week and get on to more normal times next week.

5 thoughts on “A Quiet, Short Day”

  1. So far market has moved like I expected after the holiday (up). This is not a market of stocks but of sentiment. People’s emotions drive their investing decisions.
    Sometimes waiting is a better option. I had a 1/2 or maybe a full position fill yesterday of CGBDL at 25.20 I hate buying over par but 2 years of rising rates might be coming to an end.
    Hard to compare this point in time to the last big inflation and rates increase of the early 80’s except to note it took a lot higher rates then to reach a breaking point I don’t think this economy could stand higher rates without breaking now due to all the debt in the world. One thing different this time is I don’t see the panic of people moving to PM of course we didn’t have Bitcoin then. Maybe I should be watching that alternative to see if people are moving their money there.

  2. CGBDL is now trading ; Schwab was a day late in activating it; Looks this issue at 8.2% coupon was underpriced; as a result, I don’t think it will be trading at 25 any time soon. I initiated a position today at 25.60 ; that’s an 8% current yield for what is my definition of a “socks drawer” ;

  3. Tim, I’m finding out on illiquid it seems like it depends where you have your account. I have seen some people here say they snagged a few shares sometimes at a lower price than my bid so I assume the broker they are with had shares offered in house.
    As for Monday, if we finish this day unchanged or slightly up I expect people to jump in and push the market higher because they feel like they missed the uptrend last week while on vacation.

    1. Charles,

      I think it sometimes also matters how big your order is (at least at schwab).

      More than once I have had a round lot order in one account for an illiquid, and a small order (less than 10 shares) for the same illiquid in a different account and my little order will fill (or get a few shares) while the order for 100 just sits there. Sometimes that fill will even be for a lower price than I offer for the full lot.

      Makes no sense to me.

      What is even more bizarre is that several times I could keep re-entering the same small lot and getting fills within minutes while the bigger order at a higher price just sits there.

      Admittedly, building a position with single digit quantities is annoying, but sometimes it is the only way I can get any shares.

      1. Thanks for the thought. I put in a 100 share bid thinking that was small and 75 shares filled Wed. Now the other 25 are just sitting there. Couple folks here have said putting in a offer one or two pennies above or below last fill.
        Might work, but I was trying to shoot for a 6-1/2% yield
        I am not doing anything today unless something happens to hit., but I did move another 35 from the ultra short term bonds fund to the trading fund. Should of done it Wed as this will not settle Monday I don’t think.

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