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.