Thursday and Friday – Mostly Out of Office

We will be out of the office the majority of the time during Thursday and Friday, although we will be back in the evening to check out the markets.

Of course we will have our smart phone with which to keep an eye on all of the fun in the marketplace, but attempting to update the website with the smart phone is beyond our patience.

We will mention that we moved our good-til-cancelled sell order higher on the Global Partners 9.75% f-t-f preferred.   After vacillating whether the issue might be a quick flip in the $25.49 area we have watched the issue go higher to close at $25.64 Wednesday.  Our original Good til Cancelled order was at $25.75 so we cancelled and reestablished at $25.90–for now.  For now this has been a great issue which we truly have believed, since the date of issuance, was very mispriced–oh well.

6 thoughts on “Thursday and Friday – Mostly Out of Office”

  1. Tim, you must have sold your GLP.A as the preferred hit a $25.99 high today. Hope you have a great weekend, Nomad

    1. Hi Nomad–yes it is gone. I am out in Lake Superior (Madeline Island) now – since Thursday with 17 kids and grandkids and didn’t have a chance to watch anything as the cell phone coverage is almost zilch out here–otherwise I would have moved my GTC higher.

      I will be watching to see if there is a reasonable reentry point or if it keeps flying.

      1. Congrats Tim was a very nice short term trade! I am a holder as I believe the future looks quite bright for GLP and this should be a great income securities for many year to come. Hope you are having an awesome well deserved vacation, Nomad

      2. Tim,

        This Arkansas boy must confess that I’ve been to the great state of Wisconsin and very much enjoyed Door County and Green Bay. But until now I did not know about Madeline Island. Have researched it a bit and see I may have to
        come back up there. Looks beautiful. Your return on investment with your family will far exceed your return from preferred stocks although thank goodness for a good funding source for these kind of things. Thanks for introducing me to Madeline Island.

  2. Wise decision, Tim. I am one of the least likely people to champion an issue of this yield. But I feel very comfortable owning this. Outside of PFX this is my highest yielder. I will probably stay long on this one myself.

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