I will be adding a new link titled “Sandbox” in the right hand menu.
That link will get you to this page.
I had originally set up the “Reader Initiated Alert” page for ‘alerts’. I was thinking this, for instance, might be when a preferred stock is undergoing a temporary selloff and someone wants to let the population know about it quickly. Of course we all (including me) use the ‘alert’ page for general messaging.
I am requesting that we start using the Sandbox page for all general talk, and try to preserve the ‘alerts’ page for ‘alerts’.
I have had a screen up on one of my monitors all week where I see all comments – no matter where they are posted–it is a great page and I wish everyone had a page like that–believe me we all benefit from all the knowledge being shared. I don’t want to stifle any of the exchange of knowledge, but hope to get things a bit better organized by adding the Sandbox page.
Look what JNK did today. Huge upper wick. Junk bond spread widening.
https://www.tradingview.com/x/fSZyLWai/
My target guessy guess is 79. I would buy that.
It looks as though $79 would be an all time low for JNK. I imaging there would be a lot of buyers at that level and probably a lot of buyers before it gets down that far.
And in related news…
https://www.sec.gov/Archives/edgar/data/1487610/000089843225000248/nhs-20241031.htm
all time low was 76.65 on 3/9/2009… its currently trading at 91.61
Really appreciate SWKHL being mentioned here. After my DD I bought a full position. It’s a hidden gem with a 1/31/2027 YTM of over 9%. They invest in the health sciences which is relatively recession resistant. SWKHL outstanding amount is $31MM and is their only debt. SWKH has book equity of $288MM and strong profitability – what a deal!
One nice feature of SWKH is that its callable in Sept. 2025. This means the company has a nice window in which to shop for refinancing. On the downside for investors it also means it might get redeemed early as J Powell is likely to start cutting rates again sooner than later. I’m long and will add on weakness that doesn’t match the company’s risk profile.
Not impressed with financials thru the end of ’24 — maybe improved?
I’ve gotten into several medical related issues over the decades- nearly all failed to deliver – will pass.
good luck
Gary maybe good, maybe bad. I bought it then jumped out of it after I read more about it. The original investors in SWK want out, I don’t think they want to wait long term. That to me seems high risk. Ok probably to add a small holding but DYODD
Wow…. Up, Down, Up, Down goes the market as our two four year olds trade threats over tariffs and other things. Get in my foxhole and stay for the time being……
Vietnam has reportedly offered 0% tariffs. They want the trade imbalance between the 2 countries narrowed. Here are some numbers from economist, Peter Boockvar.
“For some reason, Vietnam continues to get beat up for its trade deficit with us. They send about $110b worth of goods to us while we send just $13b to them. But Vietnam is a country with a per capita income of about $4,000. What exactly can they afford to buy from us? Many there literally work 7 days a week making $10-15 a day and we’re worried about our trade deficit with them? As more wealth is created there, they will buy more stuff from us but tariffs on them at a punitive rate will wreck their economy instead.””
So much for the narrative that this was a negotiating tactic from Trump. This administration’s position is irrational.
I did the trade I said I’d do yesterday: sell vix calls into the margin liquidation after the open. Covered all of them at .05.
RKT/COOP merger deal narrowed
We looked at quite a few merger docs this weekend and they have carve-outs for tariffs… lbo deals like JWN.
It’s in this environment you do not want to trade merger deals and I have violated my rule.
sorry I posted that twice. It wasn’t so good a trade it deserved to be posted twice> MY browser locked and I was doing something else. That’s my excuse and I’m sticking to it unless Tim agrees to stop his illegal trade practices in violation of WTO rules…oh, wait….that’s someone else.
Tangentially the economist Navarro quotes in his books doesn’t exist. He made up the name and quoted the guy. My lawyer neighbor and my best friend trader are all-in on the tariffs. I’m waiting for tariffs on services!
Lt Wake Up from that dream! Either that put down the coffee and take the dogs for a walk. Don’t you remember they are working on a budget to give service workers no taxes on tips?
Just kidding, sounds like you are having a good morning.
I did what I said I’d do: sell vix calls into the 15-20 min period after the open as margin selling got processed. Covering those in the next 60 mins . Nice profit.
Nothing big will happen for a few hours now. I’m looking to buy some ODTE puts in about 90 mins
I’m hearing from futures floor trader the early indication on stock futures is LIMIT DOWN.
He could just be looking at the indication posted from traders that I get on IBKR’s site, which often bears 0 resemblance to where the futures actually open. For all I know they could open UP, but I can assure everyone they will not open up down, as many people might opine. They can either open UP or open DOWN, but cannot open” UP DOWN ” as that’s a logical impossibility!
I just wanted to interject some humor with that last line because I hear “open up down” used all the time!
I’m have hundreds of bids if we are going to open limit down. The halt is 15 minutes, then 13% is the next stop…..
— These days, Nothing is true and everything is possible. It is possible, though forbidden, to go “up the down staircase” in public schools. There was a 1964 book on this topic. Late night riders on the A-train are often warned: “Downtown trains will stop on the Uptown track overnight.” (That warning sign always makes me nervous.)
— I understand options traders have a way to be both long and short — effectively both up and down — when they can foresee magnitude but not direction, say for an upcoming earnings report. I am not options smart. My high school math teacher called that an “absolute value” or an | absolute value |.
— Just sayin’
Crypto and Gold:
I don’t want to jinx anyone here and I actually couldn’t care less except it would be nice to be proven right by markets, but I think both gold and crypto are in for a HUGE fall.
Let’s see where gold opens. I just sold all my gold eagle proof sets on Friday.
I could not get more than spot from a dealer. The guy was very honest, telling me at one point they were paying $600 per oz over spot . That was actually close to the high quote I received when gold was $1700.
I kept a few sets , but I can use the gain to offset the capital losses from the SPX interest rate borrowing transaction I set up in the past 2 years, and if TLT goes higher , I can get another 5 year borrow under 4%.
Unlike practically all crashes this crash is purposely driven and solely caused by the new tariff policies which I think will be reversed if the desired effects are not achieved shortly or the (stock market) pain becomes too great. The recovery from The Great Recession and Covid crashes was a big unknown as investors had an “end of the world” mindset. The current crash is far different as recovery is most likely in the short-term per above. There’s a good chance of stagflation setting in because global increases in tariffs cause price increases. I am cutting back on the few “steady up until now” perpetuals I have. Friday saw panic selling in these. My buying watchlist are issues that mature no later than 2028 and ridiculously high floater spreads. On Friday I added to FITBI, SPNT-B, LANDM, EICB and RITM-A. By Friday’s close I felt like I had been in a warzone all day. My port dropped .17% on Thursday and .55% on Friday for a combined two day drop of .72%. I feel panicked by this drop as my sensitivity to losses is much greater than when I was younger. Still up 2.1% ytd and comfort myself knowing that I’m beating the pants off the S&P.
I have recently retired and rolled my 401k into an IRA and am 1/3 of the way in completing the fixed income portion of my portfolio. I would appreciate second opinions on my assumptions of relative risks of various classes of baby bonds and term preferreds. I am assuming the greatest safety is in baby bonds of CEFs and BDCs. Followed in order by baby bonds of mREITs > term preferreds of CLO CEFs > preferreds of mREITs> preferreds of REITs . Where does the relative risk of ladders of corporate IG bonds (eg, IBDS, IBDT, etc) and ladders of corporate high yield (eg, IBHF, IBHG, etc) fall? Thank you in advance
LG, long time contributor who we haven’t heard from in a while, Gridbird went with utility preferred and was an expert at reading the reports. You might find it hard to snag any right now because few are willing to sell and if your account is at Fidelity they restrict the amount you can buy on volume.
I’ve been retired going on ten years and consider myself an income investor and invest in baby bonds, preferreds, etc. I have had a few investments go south on me and unfortunately now consider myself experienced with what happens to various asset classes when a company goes under. From my perspective being higher up in the capital stack (in bonds, baby bonds over the common stock) doesn’t really offer that much benefit/safety because when a company gets into trouble and is heading into bankruptcy, you are going to get hurt no matter what type of asset you own in that company. The goal should always be to buy into well run, quality companies and then it really doesn’t matter what type of asset you buy as the “safety” comes from that core company itself. Just my two cents…
I believe the same. I have not seen companies default on junior subordinated debt while still paying their senior debt. I am referring to Investment grade debt. I generally do not buy non-investment grade unless the company is being acquired by an investment grade organization.
I haven’t looked, but I am wondering how much (%) could have been made buying cash-settled index puts on the close Thursday and letting them settle Friday
I had told my family unless something changed in the news , the Friday action should be 2-3x as bad as Thursday.
It appears thus far we have no backtracking over the weekend; no good news. Assuming this doesn’t change , I’d say Monday looks bleak, but I would not sell at the open..
I do not own any common stocks. Im not buying now. Buying the dip will be an expensive foray .
Lt with the short sellers be all flushed out come Monday or will we be faced with fresh selling due to more margin calls?
My guess is there will be forced margin selling in the first 30 minutes if we open down. I’m looking to sell VIX calls if they zoom higher after the open.
I’ll cover that within an hour, whether it works or not.
I’m not looking forward to losing more on my M&A arb RKT/ COOP (11/1 ratio)
Any ideas on how to prepare for potential stagflation? Traditional ideas are TIPS, commodities, gold/precious metals, maybe agriculture commodities, REITS, short term bonds, healthcare, utilities, high quality consumer defensives.
I can get behind TIPS, short term bonds, and to some extent high quality REITS, healthcare, utilities, consumer defensives. Of course high quality preferreds and baby bonds as well.
Gold I certainly see the case for, but I’m struggling to buy now after such a runup. Of course it can keep running
Commodities in general I’m having trouble with, as their price seems to rely on demand, which would seem in high peril during stagflation. Agriculture could be hit hard by tariffs.
What about MBSs? I’m in Managed futures as well. Any other ideas?
Don’t want to come across as dank. Visit Egypt and ask how they invest.
Hoping the world can come back to the camp fire for some more kumbaya.
Solactive once had (has?) a Stagflation Index. Last year it was mostly in TIPs (~63%) with the balance in equal parts Gold, Oil and Real Estate. There was an ETF based on it, but it closed 18 months ago.
https://www.solactive.com/wp-content/uploads/solactiveip/en/Factsheet_DE000SL0FJY4.pdf
I would Google “stagflation” plus “ETF” from time to time to see what comes up. “Stagflation” is a trendy topic, I expect we’ll see a lot of new ETFs soon. (Right after the wave of -2x Asia-Pac Tariff Bear ETFs and Heartland Manufacturing ETFs) Some will be clunkers. Others will be genuinely good. JMO. DYODD.
Tim,
I have a question, or a series of questions, but couldn’t find a better page so will try Sandbox.
While I’m not new to preferreds and BB, I’ve been diving deep into them (with the help of your site and poster’s comments). So I hope this isn’t too stupid a question.
When I look at one of the security pages, I see a rating labelled ‘III Rating (In Regards to Dividend Safety Only)’. I’m trying to understand:
a) Is that a subjective rating you’ve assigned, is it based on some other source, something else?
b) If a company had both preferreds and BBs, could preferreds have different ratings than the BBs?
c) How often is the rating updated, if at all
Thanks
Thanks
This post is called “The market doesn’t really react until it gets its nose rubbed in it.”
In 1999 I was part of a stock shorting group looking for targets among the ridiculously overvalued dot.com stocks. That’s when rocks2stocks was born. Something specific happened in March-April 2000 that punctured the Nasdaq bubble, but for the life of me, I can’t remember what it was. Nose rubbing ensued. There was plenty of warning.
In 2006, maybe even 2005, people, including John Mauldin, were warning about subprime loans and a looming recession. It took Lehman Bros. to finally tip the scales. News headlines said Big Surprise, No One Knew. What a crock. More nose rubbing.
In the fall of 2019 there was news of an illness spreading in China. Someone I know in So. Cal. was seriously ill in December. Covid was in the U.S. I was sick in Feb 2020 and it could have been Covid. And yet it wasn’t until March that the stock market seriously reacted, despite months of lead time.
Everything about the new tariff policies has happened in just two months, but if you listened to the right people, the stock market’s reaction was no surprise. John Mauldin said in his latest newsletter that Trump has two months to find an offramp, otherwise recession. Warning taken.
Rocks, exactly what Lt warned me about. I remember I made the mistake of entering the market right THEN!. Local company was doing coatings for glass. Like non glare computer screens, windows on the Apollo spacecraft and a number of other applications. Unknown little company. Basically it was using a vacuum chamber with powdered metal, pull an electric current and the powder would deposit on the glass. It was their formula for the powder that was added to car paints at the time to get shape shifting colors. Then JDS Uniphase bought them. Knew a janitor who became a millionaire from company stock. Of course this product went on to be used worldwide in ink for all the world currencies.
I thought I was being smart at the time to buy Nortel networks and got my head handed to me. This AI craziness is starting to remind me a lot of that time.
Ah yes, the if only … I was living in a cheap quonset hut rental at Hollywood Beach are at Oxnard,Ca in 1963 on a work program with the DOD thru my Univ- I recall the owner telling me about an investment he was making in a company that was making eyeglass that would darken in sunlight- super idea, but of course, I had no money and probably wouldn’t have ventured into it anyway.
I’m not sure if anyone here has read or is aware the WH appears to be exceeding it’s authority and is being sued to enjoin the tariff regime as illegal.
I’ll link to an attorney’s analysis of the constitution, law , and lawsuit.
Please note this guy is a criminal defense lawyer in New York state and has been opining on Trumpian actions virtually every day since he has been in office. The blog has been around probably longer than any legal blog I read..well over a decade. The comments are generally from other attorneys and judges, but there are quite a few from his regulars, some of whom are nutjobs he keeps around because they amuse him. He HEAVILY edits the comments.
Can Trump impose Tariffs At All? is the article
https://blog.simplejustice.us/2025/04/05/can-trump-impose-tariffs-at-all/
People on this site should focus on their money, not politics.
The formula used has nothing to do with the tariffs that foreign countries charge the United States. If a country lowers their tariffs to 0, it will not effect the tariffs we charge them. The formula IS SOLELY based on the trade imbalance between the countries. Until this administration changes the formula, there is nothing a country can do from a practical basis to lower the fees we are charging them. They need to go back to the very basics “What is a tariff?” and “What is a trade surplus?”. They do not mean the same thing.
This is why everybody on Wall Street and the other nations in the world were blindsided. They do not seem to understand the difference between the 2 terms.
We all spend time researching what we invest in. You need to spend 15 minutes understanding the formula used and assessing for yourself what options a foreign country has to lower their tariff we are charging them.
Dismiss at your own peril
https://www.aei.org/economics/president-trumps-tariff-formula-makes-no-economic-sense-its-also-based-on-an-error/
Nobody expected orange man to wake up and choose violence.
Everyone is on a different step of the 12 step process.
You have to be patient as everyone catches up.
Everyone knows the numbers they picked for tariffs were chosen that way. EVERYONE knows that including the white house. When you only have 4 years to change so much… a little shock and awe is required. So now the discussions and negotiations start. Immediately. No procrastination. No delays.
So your thesis is that they are going to abandon this formula on a country by country basis?
It seems like many investors are believing they will back down from this formula in the way you describe.
Time will tell.
Since the reciprocal tariffs will take effect on Wednesday, April 9th at 12am for our 50th largest trading partners, we will know soon enough.
https://www.kelleydrye.com/viewpoints/client-advisories/president-trump-imposes-reciprocal-tariffs-on-most-countries-covering-most-goods
I will probably sit out of the markets Monday and Tuesday unless he backs off ALL reciprocal tariffs. Everyone of course, will make their own decisions on Monday and Tuesday.
There is talk of putting in the budget billions of dollars to help America’s farmers. But where do you start? We are already into planting season and farmers will have to wait until harvest to see what crop prices bring and the market for those crops. I really hope that some of the negotiations will include buying America’s surplus grains and animal feeds. I hope the tariff’s offset the billions being added to the debt. We will just have to see Steve.
How does an investor ‘sit out’ of the markets for a couple of days, did you sell all your holdings on Friday?
fc, that reminds me of the great Patton quote “A good plan violently executed now is better than a perfect plan executed next week”
My hope is negotiators take some wins off the table this weekend..
Markets rally +5–10% in such circumstances.
But if no wins are announced this weekend…
Sadly, I know no deals will be reached. Volcker is back.
Strap in your baggage and await turbulence.
Micahc, what happens to the countries where the Trump administration doesn’t back down from their trade surplus formula? The 50 largest countries start writing real checks starting on Tuesday night at midnight (Wednesday 12:01 am).
Those costs now have to be taken into account when the items are put up for sale. Not sure, how much of a snapback we will get.
Sorry, countries do not pay tariffs; companies importing the goods pay these tariff.
Micahc, what happens to the companies buying the goods from countries where the Trump administration doesn’t back down from their trade surplus formula? Every company buying goods from these countries has to start writing real checks starting on Tuesday night at midnight (Wednesday 12:01 am).
Those costs now have to be taken into account when the items are put up for sale. Not sure, how much of a snapback we will get.
Steve, I worry about my budget. After Covid I was willing to pay a little more for Royal Canin a pet food from Canada. I had been buying Hill’s science diet but they changed the formula and started adding more pork byproducts. My pets noticed the difference so I switched back to Royal Canin. Then came the package shrink and I noticed the cans changed size so I was paying more for less. .
Guess I will have to adjust my buying habits. I hope I don’t have to start eating pet food!
Charles M,
I stopped feeding our dog processed food last year, he eats real meat (mostly chicken), brown rice or whole grains, and some veggies all chopped and mixed, which we stored in the fridge in batches so we aren’t making daily. Started adding some vitamin drops just in case I’m missing anything,
He loves it and seems to be doing great, plus it’s surprisingly affordable.
Might not be as practical if you need large amounts of feed though.
James
Hi James, hope the meat is cooked. My dad used to have a hunting dog, a Weimaraner beautiful chocolate grey with golden eyes. He used to do ground hamburger , an egg, oat bran, and there was something else for calcium and vitamins? Definitely people food!
My one cat is 18yrs old and has to be on special kidney food. Oh bty, read canned food ingredients. Fish is bad for male cats. Always check what the ash content is, which comes from the manufacturer cooking the bones with the fish byproducts. Gives them kidney stones.
Charles,
What does your pets have to do with investing? I realize the section is “Sandbox” but it’s getting frustrating sorting through all the posts containing no useful investing information.
Understood Dan. Just thoughts. NSRGY owns Purina and licenses the trademark to Land O Lakes they also own Friskies. CL owns Hill’s science diet. Royal Canin is owned by Mars which is a family owned company. Interesting a candy company owns pet food.
https://www.nasdaq.com/articles/the-pet-industry-is-a-recession-resistant-category-for-investors-seeking-long-term-gains
I’m really shocked you have no interest in what color eyes Charles father’s dog has.
Citadel, Just little acorns of thought that may grow into a mighty oak tree.
I am on a well which I don’t use for drinking water. I go get filtered water. I was buying all my water at a vending machine called Glacier water. So I decided what the heck, I wonder if it’s a public traded stock company I might be able to get some of my money back.
https://seekingalpha.com/article/1936631-revisiting-profitable-glacier-water-services-trust-preferred-stock
Now you know how I found out about Tim’s website.
I threw out the comment on George Imp Van Allandorf for all the dog lovers on here. Might get them to thinking how to get back some of the money they spend on pet food.
If a certain retired investor on here who has had talks with the CFO of CHS he might want to think about mentioning they get into pet food the next time he talks to her.
Now I just turned musings into talking about investing, how that Citadel?
SteveA – I would rather not think about it. Living memory of 78-79 when retirees visited the pet food section. (note: they did not own pets).
Paul Volcker stepped in and reversed this situation rapidly. Providing dignity and grace for those affected by high prices.
Volcker is back. Just painted orange.
Today, 4 accounts down an average 1.1%
bought
EICC 24.12
EIIA 24.65
MSDL 19.00
RJF-PB 24.95
BUI 21.75 this was a whole 10 shares bought to track the stock, good thing I didn’t have a large order in
And of course the KRP -12.60
BCSF -15.25
“4 accounts down an average 1.1%”
I had basically the same losses you did, except the digits were reversed.
Good one Bear
Quite a lot of nervousness in the supposedly NAV stable / MMF equivalent AAA rated CLO ETFs during the last few days. Likewise in the BBB-rated CLO ETFs. JMO. DYODD.
BearNJ-
JAAA has come down some compared to CLIP, SGOV, and USFR, all of which are gaining- but then they are treasury based. CLO investors are likely a bit more in the panic camp of retail investors. I attribute some of the drop to people selling some to buy other stuff- plus the recent ex of almost 26¢ on 4/1 It has lost ~ 1%
Add PAAA to the JAAA group. I do not consider them as a suitable substitute for a MMF. Too much volatility for me.
Sounds like Mr. Powell is backing off his “inflation from tariffs could be transitory” to “it may be more persistent” as the economy “digests significantly larger than expected” tariffs. Boy, is he between a rock and a hard place. Does the Fed cut rates as Mr. Trump is demanding, hold them steady while the dust settles, or raise them to attempt to calm inflation some? I brought up the spector some time ago of possible Stagflation. Is it coming?
Recessions are deflationary. Time to talk cuts.
Ha ha, Tarrifs are inflational, recessions are deflational. Maybe we get biflation.
I’m not thinking about is this the bottom. I’m thinking about the stock market has become a serious problem for the economy.
On SA, Bill Gross advises not to buy the dip- does not see this as a short term problem. Something to ponder… maybe nibbles, but not today for sure.
The only thing I would buy now is term stuff of solid companies. I suspect we will get better buying opportunities soon for longer term issues.
But you can get too picky trying to hit the bottom of income issues so each person has to move when they feel comfortable.
Wow…. What carnage again today. It has finally began to hit me as I see about a 1% decline overall from my high this year, with half of it today alone. Guess it could be a lot worse. Normally the jobs report would be a big topic of discussion, but not today! It was actually not a bad report, but it has been buried by the reaction to the tariffs and start of the global trade war. I’m sitting tight as usual and waiting for this to pass. Not selling anything…… And might eventually buy a little.
1%..there would be a long line of investors (including me) who would love that number
I am over 50% in MM and bonds and I still got hit today. Even 25% stocks can be too much. The market hates this whole tariff mess. Thank the Mad King
I went from a high of up 1.8% this year to now down 0.45%…meh. I did a lot of furniture rearranging yesterday. Bought a tiny bit (100 shares) of UPS at $98…it’s divvy, if it doesn’t get cut is about 6.6% now. Still have lots of dry powder in laddered treasuries and CDs.
Significant correlation development to report here. Index futures all plummeting right now. And commodities as well; natural gas/gas, silver, crude, copper all tanking anywhere from 3-6% in the red. Even gold contracts bidding down 20 points.
But do you want to know what’s up > $1,000?
BTC
I saw that.
My prediction is the market goes LIMIT DOWN 7.5 % . Then we will see if the circuit breaker does anything. I doubt it.
This is an environment where M&A arbitrage trading is usually disastrous.
Even if you have a good deal…meaning one that won’t break the merger agreement, random stock movements force out leveraged players. Almost everyone trading M&A deals for a living is highly leveraged.
lt,
I saw this and thought I’d send it to you.
https://seekingalpha.com/article/4772937-municipal-bond-tax-exemption?mailingid=39296530&messageid=dividend_ideas&serial=39296530.54998&source=email_dividend_ideas
Mr. Market apparently missed permabull Ed Yardeni’s “buy the dip” memo late yesterday. This morning’s futures chart looks like the sound of the high school class comedian scratching his fingernails on a blackboard.
(From AI, in case you forgot – “The sound of fingernails scratching on a blackboard.. elicits a distinct, unpleasant emotional response…Possible Explanations: …Evolutionary Connection: Some theories suggest that the sound might be similar to warning calls of primates…” JMO. DYODD.
Extreme fear
https://www.cnn.com/markets/fear-and-greed
Friday 6:45am NY … Pre-Mkt very ugly …. Some MACRO Good should come.
Individual items for a bounce are MICRO…. but down the road.
Pre-Mkt examples ….
AAPL @ $194.50
BAC @ $35.30
F @ $9.30
JPM @ $215.00
C @ $60.00
XOM @ $108.00
WMT @ $84.75
“At the bottom of the ocean, next to every shipwreck, there is found at least one chart”–
haha. Just playin with you rocks2stocks!
LOL. My ES target was 5300. Overnight low 5210. Moving parts. My crude futures tgt was 60.5. Overnight low 60.8. What’s next? Don’t ask me.
Rocks, ready to catch a falling knife? Today could be good or bad. I think going into the weekend could give things time to settle down and Monday be a recovery.
This correction has brought down the market P/E to only a slightly insanely high level.
And with Tariff’s, the “E” part of P/E can be absolutely hammered….
With the internet bubble, the P/E started coming down because the companies without any “E” were going bankrupt left and right and being removed from the equation.
With the exception of SPAC’s, which seem to be growing like weeds, most companies have a “E” already, and are not a divide by 0 problem…
Charles,
A trading firm owner used to take people to dinner who would always question him about market direction. The CEO would slowly, almost imperceptibly push the butter knife toward the edge of the table while talking to the person.
When the knife fell and hit the person on the foot, he or she would question why the CEO had pushed the knife off the table, to which he would reply , “Because I thought it would go UP!”
This was his way of responding to people who thought buying dips was a good strategy.
Lt, thanks for the reminder of what happened to me in the 2020 to 2022 tech bubble. Couple bad buys I will probably regret and one good one on UMBFP at 24.80 today
Lt, that is what I like about you. You admit you made a mistake even though you know better and actually tell people about your losses. I know some people who only brag about their wins.
I thought it was a good time to get back into KRP at 12.60 today. what do I know
Weekend? Probably two days of whipping the crowd into a fear frenzy- so Mon could be worse & for sometime.
VIX rocketing
I know that some people here held ENLC when it was bought out by OKE and got stock in trade. OKE is not a MLP so no K-1 I think a few held on and at one point OKE went over $100.00 a share and was at some ridiculous P/E for a pipeline co. and a low dividend. Then OKE agreed to build an export pipeline with MXLP to the Golf of America. I think our export market of oil and gas is going to take a hit as there is a lot of other choices for customers to buy from. OKE is down big time the last couple of days.
SPX _ looking at $4950, then 4345
But, could do anything at this point. Guess I should be looking at 3x short ETFs on Nasdaq
Wasn’t much movement in my issues, a few pennies up or down, but I did buy some DX-C and a bit more MS-F. Was hoping for some bargains, not to be, maybe tomorrow ?
Wed pm / Thursday am Preferred’s comments re safety …. held nicely
I have a holding list of 20 (+ -) ….. From Apr 3 close as of today %-age prx chg … Ranged from ….
CHSCM ….. up .14% to $24.80
KTH …… unchgd at $29.35
CHSCN ….. unchgd at $25.01
…. NLYpG …. Down .99% at $24.90
… KMPB …. Down 1.23% at $22.43
… FpD ….. Down 1.42% at $22.19
…. BMLpH Down 3.18% at $21.32
Many, if not all, of the names have come from you III’s posters…. that worst of the lot ( BMLpH ) was my gem ! Hat’s off ….. and yes those preferreds held up fine.
Jim – Great reminder on the NLY preferred. Been waiting on that one for months to dip below par. Cheers!
You, or one of your ProPoster’s, had put that “G” relooked by me. I have had on my Preferd Watch for months & was about ready to delete ( constantly over $25 ). How long have I held … prior to yesterdays Buy … $23.70 !!!!
Despite the chaos out there, still adding …. & keep posting the thoughts.
My 2 cents after the lies regarding other nations’ tariff percentages:
1)We are in for a World of hurt.
2) LQD was DOWN today. High yield cannot weather the tariff fiasco very long.
The President didn’t want to talk to countries right away, and I’m not sure they want to talk to him as they will let our markets’ decline continue to work on the citizenry and perhaps turn them against the policies. I’m not sure anyone knows what these policies are.
3) Credit quality will weaken dramatically within weeks as earnings come down
4)I cannot say in the 51 years I’ve watched markets or the 27 years I have traded, that I’ve seen an administration more at odds with investors in an effort to supposedly help the country.
5) Get me to CD’s.
6) Someone is insane . Unfortunately, it’s not me!
circuit breaker page: may come in handy
https://www.nasdaqtrader.com/trader.aspx?id=CircuitBreaker
Musing on AMZN- down ~ 9% today, but how it could rocket if Friend Bezo$ gets to buy Tik Tok?
Not a buyer, but has promise. I don’t see how a group of buyers could work.