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Old 11-24-2021, 08:48 AM   #521
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My good preferreds have been getting redeemed one by one over the last couple of years. I only have a handful left of the 20+ is used to have.

Best time to have bought was March 2020 when everything crashed. I grabbed some CMO-E (now FBRT-E) and WFC-L at great prices. I wish I had bought more.
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Old 11-24-2021, 11:37 AM   #522
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So given the interest rate risk and the fact that I don't monitor my preferreds portfolio closely like Mulligan and some others do, I'm thinking of putting trailing stop loss orders on each position that I have to limit my losses in case there is a spike in interest rates that cause the value of preferreds to go down suddenly.

I'm thinking of doing 5%... so if I have a ticker currently trading at $26.00 then it would stop loss at $24.70 but if the ticker subsequently increases to $26.50 then the stop loss would increase to $25.175.

Thoughts? I chose 5% in part because I didn't want an issue just going ex-dividend to trigger a sale.

Am I overthinking this?
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Old 11-24-2021, 06:01 PM   #523
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PB, That is tough one to answer. I see good and bad points. A one off singular company could suffer a quick fall on a sell dump imbalance trigger your sell, and then recover it back. How would you feel if that happened?
I tend to do opposite and try to snag on quick falloffs, but this time could be different if its a secular downturn.
It depends on what type of issue you bought, but have you considered just trimming something that is high in price and low in yield?
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Old 11-26-2021, 02:07 PM   #524
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Quote:
Originally Posted by brokrken View Post
Looks like Schwab is walking back some of the $0 trades, which will apply to some of the OTC traded preferreds we discuss here.

All US OTC and and Canadian trades will be $6.95 starting Dec 6.
While I'm not a fan of paying for something in the future that is free now, I guess it isn't likely a move that will have much impact on me. But I sure hope it's not an indicator of more moves away from $0 commissions!

My current holdings aren't impacted to any great extent.

SPLP+A NYSE
MNR+C NYSE
SLMNP OTC
CNTHP OTC
CNLPL OTC
DTB NASDAQ
CHSCL NASDAQ
CHSCM NASDAQ
SCHW+J NYSE

brokrken, you mentioned "Schwab is walking back some of the $0 trades." I didn't see anything other than US and Canadian OTC trades mentioned. Did you see anything else that caused you to refer to "some of the $0 trades?"
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Old 11-27-2021, 07:59 AM   #525
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Etrade never dropped to $0 commission for OTC stocks. Those were and are still $6.95
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Old 11-28-2021, 12:32 PM   #526
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Quote:
Originally Posted by youbet View Post
While I'm not a fan of paying for something in the future that is free now, I guess it isn't likely a move that will have much impact on me. But I sure hope it's not an indicator of more moves away from $0 commissions!

My current holdings aren't impacted to any great extent.

SPLP+A NYSE
MNR+C NYSE
SLMNP OTC
CNTHP OTC
CNLPL OTC
DTB NASDAQ
CHSCL NASDAQ
CHSCM NASDAQ
SCHW+J NYSE

brokrken, you mentioned "Schwab is walking back some of the $0 trades." I didn't see anything other than US and Canadian OTC trades mentioned. Did you see anything else that caused you to refer to "some of the $0 trades?"
youbet, no, that's all I saw referenced. But, like you, I hope it's not a sign of things to come.
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Old 12-02-2021, 05:56 PM   #527
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What's gong on with QRTEP? It's been in a steady downtrend from $108 to $103.
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