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Getting Through the Day

After a really rocky open with a circuit breaker shutting the market down after 6 or 7 minutes of trading markets have calmed–for now. Of course there is no real predicting the end of the day trading–way up or way down? Maybe just a whimper into the close.

Overall I have not taken a severe beating–just a modest spanking in our accounts. BUT when looking at the list of losses in preferreds it is damned scary. Last I looked there were over 70 issues down at least $2/share–and some like the NGL Energy issues are off $8/share–wow!! No doubt for the brave there are some bargains to be had–just depends on your risk tolerence. If some of these energy issues stay way down I may buy a little later this week–don’t know, will see how lucky I feel (or maybe stupid).

While I did not plan to buy today I took a taste of the Gabelli Multimedia Fund 5.125% (GGT-E) at just under $25–but that is all. This issue is call protected until 2022 and is A2 rated.

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