The new guy

[LemonButt]

Hello all,

I just signed up for this forum and it looks like a fruitful place to visit. I did a lot of trading back in 2005 or so and then life just got busy. Now things are a bit calmer, I've put some money back into the market since the timing couldn't be better.

I'm currently LONG on PSEC (http://research.scottrade.com/public...sp?symbol=psec) It's a small cap with a 6.7 P/E ratio and strong revenue growth, high amounts of insider buying, and a very generous dividend (15%). It's currently at $10.48 (I got in at $10.14 on Friday) and is down from a 52-week high of $16 and has been trading up on high volume. Earnings will be announced after the close on Monday, May 11th and I'm expecting the stock to bounce like all the bank stocks have been lately after earnings are announced. I plan on holding it for a few months, most likely until July when the next dividend payment (~40 cents/share) is issued and expect it to be well over $12 by July.

Hope this helps and I look forward to getting filthy stinking rich with you all

[IIC]

Welcome...Doug

[Odysseus]

Aye, welcome Lemon !

Good luck on the earnings call, I've had good and bad luck with them

[mrmarket]

Parktwain noted PSEC back in Dec 2006.

[skiracer]

Hello all,

I just signed up for this forum and it looks like a fruitful place to visit. I did a lot of trading back in 2005 or so and then life just got busy. Now things are a bit calmer, I've put some money back into the market since the timing couldn't be better.

I'm currently LONG on PSEC (http://research.scottrade.com/public...sp?symbol=psec) It's a small cap with a 6.7 P/E ratio and strong revenue growth, high amounts of insider buying, and a very generous dividend (15%). It's currently at $10.48 (I got in at $10.14 on Friday) and is down from a 52-week high of $16 and has been trading up on high volume. Earnings will be announced after the close on Monday, May 11th and I'm expecting the stock to bounce like all the bank stocks have been lately after earnings are announced. I plan on holding it for a few months, most likely until July when the next dividend payment (~40 cents/share) is issued and expect it to be well over $12 by July.

Hope this helps and I look forward to getting filthy stinking rich with you all

nice looking stock for your first post. i was impressed with the insider buying going on. chart looks pretty good to me.

[LemonButt]

Here is a good writeup on PSEC for those who are interested in more information. I guess you could consider it a value stock as well since it's trading ~$10/share and they have assets of $14/share.

http://www.violentcapitalist.com/2009/05/prospect-capital-relatively-safe-17.html

[skiracer]

Here is a good writeup on PSEC for those who are interested in more information. I guess you could consider it a value stock as well since it's trading ~$10/share and they have assets of $14/share.

http://www.violentcapitalist.com/200...y-safe-17.html

i bought 1000 shares of psec at 10.34 in front of the earnings report and held thru this morning but exited the trade at 10.09 this morning for a loss of -$270.00. i still like the stock, the chart, and the fundamentals and will be looking for another entry if it falls below $10 somewhere tomorrow.

[LemonButt]

If you look at the chart, it closed just below the MA(200) line today, but on relatively low volume compared to the past week of trading. If your a Bollinger band guy, you can see it's riding the top band and actually broke through the other day when it hit $10.50. The whole market was stalled today as well and the rise in oil prices can only help. I'm probably going to buy more before the week is over to average down. See you at the top

[IIC]

Parktwain noted PSEC back in Dec 2006.

What the heck ever happened to him anyway???...We are going to Vegas over M-Day

[LemonButt]

I bought another 600 shares today at $9.60 to average down to $9.88. Down again on relatively low volume today. No worries

[skiracer]

I bought another 600 shares today at $9.60 to average down to $9.88. Down again on relatively low volume today. No worries

my first trade was at 10.34 which i exited at 10.09. i bought back in today at 9.51. markets are correcting now. nice entry here. expect it to go back to 12 or higher. need the markets to trend up though.

[LemonButt]

I'm hoping to unload my PSEC temporarily next week sometime for a decent gain. TNK is giving a 59 cent dividend next Friday (22nd) that will be dispersed on the 29th. TNK has been volatile enough that I'm hoping to make a quick gain off of it in addition to the dividend. We'll see how it goes..

[LemonButt]

I sold my PSEC this morning. It's up on low volume, which means its time to take some profits. I made a small profit and took some of the proceeds and bought STAR at $18.11 this morning when it was down, up to $18.35 as I write this. Will be looking to buy some TNK for the dividend on Friday (59 cents) if I can get it cheap.

The chart on PSEC looks like its starting to form a flag pattern. I think once we see a day with a low spread on some decent volume, we'll see it breakout to the upside.

[skiracer]

I'm hoping to unload my PSEC temporarily next week sometime for a decent gain. TNK is giving a 59 cent dividend next Friday (22nd) that will be dispersed on the 29th. TNK has been volatile enough that I'm hoping to make a quick gain off of it in addition to the dividend. We'll see how it goes..

im also holding OCN from 11. it is definitely worth a look right here. still plenty of gas left in this one. im expecting it to go 3-4 points higher over the near term. PSEC is looking good. im going to wait a bit and place a stop to protect what i have. i'll be bringing the stop up and along if it continues to move up further. thanks for bringing it to our attention.

[skiracer]

I sold my PSEC this morning. It's up on low volume, which means its time to take some profits. I made a small profit and took some of the proceeds and bought STAR at $18.11 this morning when it was down, up to $18.35 as I write this. Will be looking to buy some TNK for the dividend on Friday (59 cents) if I can get it cheap.

The chart on PSEC looks like its starting to form a flag pattern. I think once we see a day with a low spread on some decent volume, we'll see it breakout to the upside.

premature exitation new guy. lots of gas left in the tank. insiders are buying rampantly. you surprised me on this exit.