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Quote from $CostAverageMAN:

FYI....I just went on a closed end fund buying spree.......I love limit orders on these things during panic selling......Back in the market...finally

$COSTAverageMAN
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Oh yeah... me too. Intra-day discounts were sheer panic, although If I had a choice I would be scalping out of these soon. Have been DCA'ing back into my equity position using these vehicles. Bought more today.

full disclosure: long BGR, MGU, ADX, RMA, JHP (ouch).

Used stop limit sales this morning - was going to get out of JHP but it was just not to be. Will ride it out, but as likely as not a loser. Long small.
 
I would love to share my picks, but unfortunately I am only able to pick up a few hundred shares at a time in these CEF's as I am constantly having to move my bids around to keep from getting scalped.....ALL I can say is most CEF's are trading at 20-30% discounts and you can just feel the central banks around the world talking to one another about how to coordinate some effort to help slow the selling......(Just my opinion).....The market is speaking loud and clear and screaming we need help.....Maybe we get the cuts maybe we don't, but these CEF's are like buying the DOW at 7500 and that sounds good to me......Only about 8% of my capital deployed to the long side so far.....So by no means am I expecting this market to just reverse screaming to the upside anytime soon....I did exit my TLT and FXY position today....Scaling out of any of those inverse pro shares I had left.....Going to try and get to a 5% short(2X inverse) and 10 % long (discounted CEF's) position by the end of the day....

Now it would be incredible to see the 10% triggers in play today....Lets hope not

$COSTAverageMAN
 
Closing at a 2% short position and 18 % long....Can't believe I didn't close these positions out, $COST got a little optimistic in this move.....Hey 500 point rally off the lows.....Short covering can't cause that or can it...Well lets see how Asia opens....

$COSTAverageMAN
 
Well a day early and a dollar short....oh well....

Currently 6% short and 24% long.....took a little beating, but was able to hedge some of the losses with those short etf's....Made a nice trade on MS today...

$COSTAverageMAN
 
Quote from drsteph:

Oh yeah... me too. Intra-day discounts were sheer panic, although If I had a choice I would be scalping out of these soon. Have been DCA'ing back into my equity position using these vehicles. Bought more today.

full disclosure: long BGR, MGU, ADX, RMA, JHP (ouch).

Used stop limit sales this morning - was going to get out of JHP but it was just not to be. Will ride it out, but as likely as not a loser. Long small.
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drsteph,

I'm looking at

http://biz.yahoo.com/ic/ll/426tbe.html

as a resource.

Can you recommend anywhere else.

Thx
 
Quote from Bootsie:

drsteph,

I'm looking at

http://biz.yahoo.com/ic/ll/426tbe.html

as a resource.

Can you recommend anywhere else.

Thx
More...

I use ETF connect (www.etfconnect.com) and sometimes use the fund sorter (sort by discount or premium) or just go to the security directly. Be cautious as the site is not always correct, particularly about special dividends. NAV also available on nasdaq by putting an X infront of and behind symbol (example BGR, XBGRX).

Many huge 20% plus discounts currently in these funds. Unquestionably panic & tax loss sales occuring. Be aware that many of these funds are significantly under water and may cut dividends. I am only adding small amounts averaging in as I am partially hedged with long puts and inverse ETF's. Have been buying BGR, for example from 27 down so on those first shares I am significantly under water.

I Urge you to consider your own situation and consult your appropriate tax, financial, and legal advisors for specific advice pertaining to your own situation. I am not a qualified financial advisor and do not hold myself out to be one nor consider myself capable of giving said advice. DYODD. For entertainment purposes only.
 
$Cost,

Love buying those deep discounts but OUCH!!!!

FYI looked at the lack of a discount on CAF? Not sure what that means currently. May not be such a good sign.
 
Who is that supposed to be - the mill.-$-
question? :
Make no mistake about it—the surprise winner of tonight’s presidential debate won’t be Obama or McCain.

It will be the acknowledgement by both candidates that despite the banking crisis, despite the credit squeeze, and despite the market’s horrendous decline…

… we must ultimately break our dependence on foreign oil or our situation will get much, much worse.

And while it will be clear that Mr. Obama’s approach favors developing alternative energy sources and Mr. McCain’s favors tapping our offshore and Alaskan oil reserves, there’s one thing they can both agree on:

Their favorite energy company will ultimately profit no matter who’s elected on November 4th.

And it’s all because of the company’s DUAL PROFIT MODEL, which allows it to profit equally from both the oil industry and the alternative fuel industry
 
I Use

www.cefa.com

Well we got a coordinated cut, but looks like the futures only brought us back to were we were at 2:00 pm yesterday....Kind of scary....

Well this will stem the crash from continuing......And yes I did use the word Crash......It wasn't a one day crash, but it sure was a 2 week crash on every metric......Indexes down almost 20% in that time frame, but I can show you thousands of stocks that need a 80 to 150% return to get back to where they were just a few days ago.....

$COSTAverageMAN
 
Quote from drsteph:

I use ETF connect (www.etfconnect.com) and sometimes use the fund sorter (sort by discount or premium) or just go to the security directly. Be cautious as the site is not always correct, particularly about special dividends. NAV also available on nasdaq by putting an X infront of and behind symbol (example BGR, XBGRX).

Many huge 20% plus discounts currently in these funds. Unquestionably panic & tax loss sales occuring. Be aware that many of these funds are significantly under water and may cut dividends. I am only adding small amounts averaging in as I am partially hedged with long puts and inverse ETF's. Have been buying BGR, for example from 27 down so on those first shares I am significantly under water.

I Urge you to consider your own situation and consult your appropriate tax, financial, and legal advisors for specific advice pertaining to your own situation. I am not a qualified financial advisor and do not hold myself out to be one nor consider myself capable of giving said advice. DYODD. For entertainment purposes only.
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Thanks very much.
 
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