Our site runs on donations to keep it running for free. Please consider donating if you enjoy your experience here!

Here We Go–Another Wild Week

We know that equity trading will be suspended this morning after the open as the 7% circuit beaker trading halt will kick in after a few minutes. I fully expect that we may close down 10% today–may even hit the second circuit breaker which is 13% during the day.

Personally I have done most of what I can do as far as ‘positioning’ is concerned, but I do continue to hold some perpetual preferreds of less than investment grade (for instance VER-F and AMH-F and others). I may or may not continue to trim some shares, although my intention is to primarily hold at this point.

I have all the ‘starter’ positions I bought last week and am prepared to add to those positions–the only question is when and at what price? The Covid 19 issue is still a huge unknown and I want to be invested when we start to see some daylight on the issue, BUT I don’t know if we are in the 1st or 5th inning–just don’t know. I continue to have adequate dry powder.

For those looking for starter positions I would probably look in the CEF preferreds and the utility issues. It is too early to buy bunches–spread out anything you do.

Leave a Reply

Your email address will not be published. Required fields are marked *