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Mercy Jimenez

Mercy Jimenez
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  • Quick Chat #281 June 1 2015 [View instapost]
    One more take on the current value proposition of munis. "[R]ight now munis' pretax yields are close to those of taxable bonds, making munis especially attractive on an aftertax basis."
    http://bit.ly/1LTMKXA
    mj
    Jul 28, 2015. 11:49 AM | 5 Likes Like |Link to Comment
  • Quick Chat #281 June 1 2015 [View instapost]
    Thx Maya several of us share your concern.
    mj
    Jul 28, 2015. 10:52 AM | 5 Likes Like |Link to Comment
  • Quick Chat #281 June 1 2015 [View instapost]
    For anyone sharing my interest in muni CEF's -- this Harvest article distills the value and attraction well: http://bit.ly/1OxyzEZ
    mj
    Jul 27, 2015. 10:26 PM | 7 Likes Like |Link to Comment
  • Quick Chat #281 June 1 2015 [View instapost]
    It appears that lots of DOW futures contract holders are getting margin calls and/or sustaining substantial draw downs against their positions this morning. DOW futures are currently down -469 points while the actual DOW index is down -147. Such a large spread between futures and actuals is very rare -- and it suggests many futures contract holders waited too long to sell as the market moved against them last week. It appears that there is more pain to come. Other thoughts welcome.
    mj
    Jul 27, 2015. 10:07 AM | 5 Likes Like |Link to Comment
  • Quick Chat #281 June 1 2015 [View instapost]
    Bart Chilton (former Commissioner CFTC) raises the alarm that big margin calls are on their way for holders of gold futures contracts. Gold below $1000 is starting to look like a conservative call! My only holding with exposure to gold is a small position in (GGN). They have continued paying the monthly distributions @ 16% yield -- but I don't expect that to be sustainable of course.
    mj
    Jul 24, 2015. 07:45 AM | 4 Likes Like |Link to Comment
  • Quick Chat #281 June 1 2015 [View instapost]
    Mathieu -- I'm afraid I need to defer to someone else on the QC who follows them more closely than I do. Albert Alfonso is an SA author I follow and who has shared his POV on VNR. His analysis is usually reliable IMO. After VNR's buying spree I kept them on my watch list, but have not made a move on them.
    mj
    Jul 23, 2015. 01:15 PM | 3 Likes Like |Link to Comment
  • Quick Chat #281 June 1 2015 [View instapost]
    Sorry to be MIA -- but my schedule has been derailed by a non-profit group/project.

    I've mostly been sitting on my hands collecting monthly CEF distributions while the market sentiment continues to deteriorate. Agree with Maya, WT et al on oilers -- I have several underwater also (NE), (MRO), (TOT) (STO) but by scaling into positions I have plenty of room to add whenever I "guess" that we are nearing a bottom. I continue to speculate that oil prices will remain on a roller coaster ride at least through the end of the summer. In the process "the good and the bad" are all getting thrown under the bus, so I will watch for opportunities to keep scaling in to strong balance sheet players who can weather the storm and can sustain some kind of dividend.

    My muni CEFs, preferred security CEFs, and tax managed equity CEFs (e.g. ETW and ETY) for the most part are holding up quite well. I also started yesterday a position in (DMF) Dreyfus Municipal Income @ $8.94. It has a 5.6% discount to NAV (twice the average discount of the last 52 weeks) and a 7% tax exempt yield with monthly distribution -- but DYODD and watch low volume liquidity.

    thanks to all who have shared your outlook above.
    mj
    Jul 23, 2015. 12:52 PM | 4 Likes Like |Link to Comment
  • Quick Chat #281 June 1 2015 [View instapost]
    I'm jealous, too, WT. You better not use the time difference as an excuse for abandoning the QC!
    mj
    Jul 20, 2015. 01:27 PM | 4 Likes Like |Link to Comment
  • Quick Chat #281 June 1 2015 [View instapost]
    dapizz,

    I tend to only watch the property REITS (as opposed to mortgage REITs.) I have interest in those below, but will only add at the right price. SA has several great authors who write on these frequently. My hope is that when Ms. Yellen calls for a Press Conference in advance of a rate raise -- we'll see a nice dip in some of these names:

    1) At the top of my list is (O) Realty Income Corporation (commercial properties) will add in the $41 -43 range

    2) (STAG) mostly industrial properties

    3) (HTA) and (DOC) healthcare properties

    4) (REM) REIT ETF - very high dividend may or may not be sustainable.

    As always DYODD.
    mj
    Jul 15, 2015. 01:31 PM | 5 Likes Like |Link to Comment
  • Quick Chat #281 June 1 2015 [View instapost]
    Agree Scooter. Here's Elliot Gue's take on the MPLX/MWE deal -- as well as his speculation re: other takeover targets. http://seekingalpha.co...
    mj
    Jul 13, 2015. 02:11 PM | 4 Likes Like |Link to Comment
  • Quick Chat #281 June 1 2015 [View instapost]
    SH -- I agree there has to be a +/- margin of error. But even if I assume it's closer to a 5% growth -- that's not shabby. "Watchful" is always the order of the day with China's centrally "managed" economy IMO.
    mj
    Jul 13, 2015. 01:25 PM | 5 Likes Like |Link to Comment
  • Quick Chat #281 June 1 2015 [View instapost]
    Some factoids worth noting:

    * Buy the dip stops paying out - at 0.06 percent, the post-dip advance is the smallest in three years.

    * Speculators increased short positions in stocks to the highest level since the 2008

    * In S&P Futures bearish contracts outnumber bullish ones by the most in three years

    * S&P 500 is stuck in the tightest range in more than two decades

    * Analysts estimate profit for the entire [S&P] index to drop 6.4 percent in Q2

    http://bloom.bg/1O6hh28

    I have been increasing my cash position as the opportunities arise.
    mj
    Jul 13, 2015. 09:55 AM | 9 Likes Like |Link to Comment
  • Quick Chat #281 June 1 2015 [View instapost]
    Very nice 32% premium -- good decision on your part to hold that position D-Inv.
    mj
    Jul 13, 2015. 09:17 AM | 4 Likes Like |Link to Comment
  • Quick Chat #281 June 1 2015 [View instapost]
    Saw those stats also, D-Inv. "[In China] stocks have crashed, falling by almost ⅓ in less than a month. That's one heck of a bear market. But stocks are still up 72% in the past year, and that's one heck of a bull market." And with a GDP growth of 6-7% -- I can't YET get too bearish on China.
    mj
    Jul 12, 2015. 06:27 PM | 4 Likes Like |Link to Comment
  • Closed-End Fund Return Of Capital: Good, Bad, Or Other [View article]
    Robin,
    For CEFs one way is to go to cefconnect.com Enter the symbol and then go to the drop down menu "distributions" which will detail ROC per distribution period.
    mj
    Jul 10, 2015. 09:44 AM | 1 Like Like |Link to Comment
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