Howdy,
Addendum: Oct 4 2011, Tuesday
Mr. Patient Investor is really trying to convince himself of why stay the current course/portfolio for the next 6-12 months awaiting the grand event(s); awakening and cleansing of the financial houses of the developed countries. For more than two full years the European debt question has loomed overhead and has whacked the markets two times in the month of May and still the fire burns worse today.
Perhaps, if offing/selling our equity and related holdings we would miss the grand equity rally to come; and the investment grade bond holdings would then suffer.
The words of this song rang into my head this morning; originally from the Supremes version, and for the hippy-dippy crowd; the more obsecure version a few years later by Vanilla Fudge. The latter perhaps being more soulful and suited to today's invesmtent sentiment. I did not alter the original lyric; as one may fit and place their own words to suit the investment circumstance.
Lastly for now. Perhaps the old investment shotgun will come out of the closet today and just blast what has already been thumped enough and beyond; recheck the bond funds that held their ground in 2008; and the most critical past the fundamental and technical.....keep our fingers crossed for the luck.
Regards,
Catch
Set me free, why don't cha babe
Get out my life, why don't cha babe
'Cause you don't really love me
You just keep me hangin' on
You don't really need me
But you keep me hangin' on
Why do you keep a coming around
Playing with my heart?
Why don't you get out of my life
And let me make a new start?
Let me get over you
The way you've gotten over me
Set me free, why don't cha babe
Let me be, why don't cha babe
'Cause you don't really love me
You just keep me hangin' on
Now you don't really want me
You just keep me hangin' on
You say although we broke up
You still wanna be just friends
But how can we still be friends
When seeing you only breaks my heart again
And there ain't nothing I can do about it
Woo, set me free, why don't cha babe
Woo, get out my life, why don't cha babe
Set me free, why don't cha babe
Get out my life, why don't cha babe
You claim you still care for me
But your heart and soul needs to be free
Now that you've got your freedom
You wanna still hold on to me
You don't want me for yourself
So let me find somebody else Hey!
Why don't you be a man about it
And set me free
Now you don't care a thing about me
You're just using me
Go on, get out, get out of my life
And let me sleep at night
'Cause you don't really love me
You just keep me hangin' on...
Original, Oct 3
Sold the laggard of the HY bond funds YTD, today. DHOAX was sold and monies moved to DGCIX, which already had some monies. The choices available are limited with this particular retirement account, so the next best choice/guess? was made. Selling DHOAX gave up what will likely be a closing yield today of almost 9%.
For you folks holding bond funds with a fair amount of Treasury exsposure, including TIPS; ya'll should have a smile on your faces when viewing today's closing NAV's....with the assumption that the manager(s) is parked in the proper place. For the total bond funds invested in both T issues and HY; the NAV may be a mixed bag of + and - offsets.
Planned to move other monies today; but did not have account access until 3:30pm.
Now, if the folks in Europe come about with a full grand plan to sooth the big investors; and if we continue to move into more of the middle of the road bond funds, well; we will get a big face slap, as in theory; the equity kids will be buyers and the bonds will sell off. As to the U.S., well, the kids are back in D.C and who knows what magic will come from them. I DO NOT like the action in the NASDAQ arena.
Ok, gotta get some things done before the sun moves over the horizon.
Take care,
Catch
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