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Old 07-09-2018, 07:19 PM   #3621
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For those that are flipping shares that are QDI, ya'll do know there's a required holding period, right? I was talking with another person and they had no idea there was a holding period.



https://www.investopedia.com/terms/q...eddividend.asp


Ya, I knew... most is done in tax free...But in the others my brokerage come tax time in the forms always labels it QDI....And then so do I....
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Old 07-10-2018, 02:55 PM   #3622
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Just not a lot of flip movement anywhere. So I am just rooting in and keeping my proper balance. I was too much on the safe end (and still am), but I bought 200 shares of DCP-B at 25.04 today. It will pay out a one time 67 cent (4month approx) divi next month since it is a new issue, then will start its normal sub 50 cent payout the following divi. I also bought 200 of PIHPP at 25.75. I am very underwhelmed with that purchase. But I needed to bolster higher end yeild and its QDI, which I needed. Just mostly getting in position to hold most longer term. Would like to sample a bit more issues that go fixed to float in a few years and yet have current call protection.
You always amaze me at the preferred issues that you find and share. The DCP-B looks good, has a K-1 so a bit of a pain come tax time. With cash on the sideline I snagged a few shares at 25.04, saw it closed today at 25.22 so already in the money.
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Old 07-10-2018, 02:59 PM   #3623
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You always amaze me at the preferred issues that you find and share. The DCP-B looks good, has a K-1 so a bit of a pain come tax time. With cash on the sideline I snagged a few shares at 25.04, saw it closed today at 25.22 so already in the money.


Bob, I tucked this away in my HSA brokerage, so I dont have to worry about the K-1. If I cant squeeze a K-1 in my tax free account I wont buy. I dont want to deal with K-1 s....Or learn how too, lol.
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Old 07-11-2018, 12:41 PM   #3624
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Bob, I tucked this away in my HSA brokerage, so I dont have to worry about the K-1. If I cant squeeze a K-1 in my tax free account I wont buy. I dont want to deal with K-1 s....Or learn how too, lol.
I've had a couple in the past. The tax software makes it painless, just tell it you have a K1 and fill in the prompts. I really don't like them as they tend to run late, delaying me from filing and getting my refund.
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Old 07-12-2018, 12:03 PM   #3625
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SPLP-A still plugging along. Up another $0.40 today. Must be something in addition to being added to that index. I just can't find anything.
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Old 07-12-2018, 12:10 PM   #3626
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SPLP-A still plugging along. Up another $0.40 today. Must be something in addition to being added to that index. I just can't find anything.


Its kind of hard to get real clear info since it is not a well followed company......I have found out its better to be lucky than good...Last week I had to sell my FPI-B at end of day to raise cash for a standing bid that hit. Good thing as FPI and preferred cratered on accounting rumors. Well I couldnt resist and bought 200 at 18.20 at end of day yesterday and 100 premarket at 19.59. So instead of losing a little coin, I am up some coin. I probably should sell, but I will hold for now.
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Old 07-12-2018, 12:18 PM   #3627
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I have found out its better to be lucky than good...
I'll certainly take it!
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Old 07-12-2018, 12:57 PM   #3628
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[QUOTE=brokrken;2077108]I'll certainly take it.

I havent forgot SPLP-A. And its probably a good play now. Its about at price I sold out last year. I just cant wrap my head around their finances since the second acquisition and understand what is going on. I saw they have bought back a modest amount which saves them money and CEO also has some too which is good.
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Old 07-13-2018, 07:59 AM   #3629
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Its kind of hard to get real clear info since it is not a well followed company......I have found out its better to be lucky than good...Last week I had to sell my FPI-B at end of day to raise cash for a standing bid that hit. Good thing as FPI and preferred cratered on accounting rumors. Well I couldnt resist and bought 200 at 18.20 at end of day yesterday and 100 premarket at 19.59. So instead of losing a little coin, I am up some coin. I probably should sell, but I will hold for now.
Damn...was a little late to the party, but just picked up 170 at 21.23. While not the steal that Mulligan got, I'm still content with just a hair over 7% current yield. Adding in the capital gain for the "interest rate spike penalty if not called" provision, total YTM is about 9.94%* for a 6 year hold.


*I do my YTM calcs a little different than some - I look at my cost basis of about $21.30 w/ commissions, then calculate YTM by combining annual dividend payments ($1.50) with the average capital gain per year, realized at maturity (about $.62/year) . Financial calculators might disagree, but it's all in tax-deferred accounts, so the time value discount on the capital gain part isn't as important since it's just in a few years. And it's a hell of alot easier to calculate on the fly, with prices changing in a blink of an eye sometimes.
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Old 07-13-2018, 02:38 PM   #3630
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Damn...was a little late to the party, but just picked up 170 at 21.23. While not the steal that Mulligan got, I'm still content with just a hair over 7% current yield. Adding in the capital gain for the "interest rate spike penalty if not called" provision, total YTM is about 9.94%* for a 6 year hold.





*I do my YTM calcs a little different than some - I look at my cost basis of about $21.30 w/ commissions, then calculate YTM by combining annual dividend payments ($1.50) with the average capital gain per year, realized at maturity (about $.62/year) . Financial calculators might disagree, but it's all in tax-deferred accounts, so the time value discount on the capital gain part isn't as important since it's just in a few years. And it's a hell of alot easier to calculate on the fly, with prices changing in a blink of an eye sometimes.


Moorebonds, what little testosterone I had disappeared when I got home today and I sold 200 at $22.14 today. Almost $800 in 2 days on a puny purchase. I still have 100 as they were used with unsettled funds and wont clear until Monday. The bottom line is yield is down to 6.73%., not 8.2% when I bought. I will toss the other 100 in the trash can Monday. I bought an additional 200 DCP-B with proceeds. This kicks out an oversized one time 67 cent divi in 2months being a new issue and essentially a 4 month dividend payment.
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Old 07-20-2018, 03:37 PM   #3631
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SPLP-A still plugging along. Up another $0.40 today. Must be something in addition to being added to that index. I just can't find anything.



Well, it is up again big today.... now up about $2.50 in the last month!!!


It is my largest pref holding as I was waiting to get to the first put, take my money and then see what I wanted to do... now I am not as sure.. I am up over 8% of my purchase price... will have to do calcs to see what is the better option..



Anybody know the 3rd anniversary date? I just put the year 2020 down...
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Old 07-20-2018, 03:44 PM   #3632
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Well, it is up again big today.... now up about $2.50 in the last month!!!


It is my largest pref holding as I was waiting to get to the first put, take my money and then see what I wanted to do... now I am not as sure.. I am up over 8% of my purchase price... will have to do calcs to see what is the better option..



Anybody know the 3rd anniversary date? I just put the year 2020 down...
Big volume today, over 1 million shares (10 day average is about 55K), so something is going on. Good luck.
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Old 07-20-2018, 04:11 PM   #3633
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Well, it is up again big today.... now up about $2.50 in the last month!!!


It is my largest pref holding as I was waiting to get to the first put, take my money and then see what I wanted to do... now I am not as sure.. I am up over 8% of my purchase price... will have to do calcs to see what is the better option..



Anybody know the 3rd anniversary date? I just put the year 2020 down...


Congrats Texas for hanging on! I made a quick buck profit during the T and A conversion and have never returned. They must buy the shares by February 2020 it appears. But they can do it anytime. This is a very complex written preferred and at times hard to understand. This means if things go good it is pretty straight forward. But if they encounter problems you are exposed to situations beyond a standard $25 redemption at maturity. This company is very insider heavily controlled remembered. Dont mean this in a negative way, but in an informative way.
I have not done much lately, bought 100 more NSS at 25.65 and 350 shares of BANFP on fast sell off 2 days ago below $27.
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Old 07-20-2018, 10:57 PM   #3634
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Trading has become a lot less frequent for me, as I am still involved with caring for a dying friend.


But today I saw a bid for 200 shares CNLPL at $56, so quickly decided to sell. This is near the top of its normal trading range, I am confident I can buy them back at a lower price, hopefully before the next XD date.


Bought some BKAML at $25.10 with sales proceeds from BAC-D; just didn't want to hold in the growing threat of a call.
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Old 07-20-2018, 11:34 PM   #3635
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So again I see how the brokerage houses cheat their clients...


I had a bid in to sell 500 shares of stock for a flip... have the shares listed at $25.95... well, 100 of those shares are sold and then for some strange reason 800 shares are sold at $25.949 at the same time as my 100 shares...


A bit later I get another 200 shares sold, but lucky for me the final 200 sell before the end of the day...


I have had it where my sale does not go through...



This is one of the many ways they can cheat you, but it will never be changed as it represents billions of $$$s to them...
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Old 07-20-2018, 11:39 PM   #3636
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Trading has become a lot less frequent for me, as I am still involved with caring for a dying friend.


But today I saw a bid for 200 shares CNLPL at $56, so quickly decided to sell. This is near the top of its normal trading range, I am confident I can buy them back at a lower price, hopefully before the next XD date.


Bought some BKAML at $25.10 with sales proceeds from BAC-D; just didn't want to hold in the growing threat of a call.

It was awhile back, but I had sold my CNTHP at $56+ hoping to buy in when it went down to $52 ish... it never has gone that low since... heck, just looked at it went to $57.50....
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Old 07-21-2018, 12:13 AM   #3637
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Texas, CNTHP is presently at $55.68 as of close, so you do have the chance to get it back lower than you sold.
I don't think you'll see a 52 handle unless there is a real threat of a call ( IIRC, the call price is $51+ and add accrued interest )



These illiquids have to be carefully monitored if one wants to do scalping on them; I had observed CNLPL trading range between $55 - $57 for a very long time, so figured I have a reasonable chance to get them below what I sold.


Well, we'll see what happens - the next XD is early September, gives me about 6 weeks to grab them back.
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Old 07-21-2018, 11:47 AM   #3638
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Texas, CNTHP is presently at $55.68 as of close, so you do have the chance to get it back lower than you sold.
I don't think you'll see a 52 handle unless there is a real threat of a call ( IIRC, the call price is $51+ and add accrued interest )



These illiquids have to be carefully monitored if one wants to do scalping on them; I had observed CNLPL trading range between $55 - $57 for a very long time, so figured I have a reasonable chance to get them below what I sold.


Well, we'll see what happens - the next XD is early September, gives me about 6 weeks to grab them back.

Yea, I have seen that.... but I have decided to have a base of holdings that I just hold... and then my money to trade... started at $12K and did not do that many flips but earned almost $2,800 last year... so put in a bit more and was still doing slow flips until April... so, YTD just under $3800 but since Apr $2500... so with the bit of added money and gains I am flipping about $27K right now... I find it a nice hobby...


So, slow flips are not my bag anymore...
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Old 07-21-2018, 12:59 PM   #3639
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Big volume today, over 1 million shares (10 day average is about 55K), so something is going on. Good luck.


I'm also still holding these and I agree something is up with the insiders that us common folk aren't fully aware of yet. At this point seems like good news so I'm holding tight.
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Old 07-21-2018, 01:07 PM   #3640
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Big volume today, over 1 million shares (10 day average is about 55K), so something is going on. Good luck.


I'm also still holding these and I agree something is up with the insiders that us common folk aren't fully aware of yet. At this point seems like good news so I'm holding tight.
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