BLACKROCK Municipal Income TRUST V.BFK.P

Primary Symbol: BFK

BlackRock Municipal Income Trust (the Fund) is a diversified closed-end management investment company. The Fund's investment objective is to provide current income exempt from federal income taxes. Under normal market conditions, the Fund invests at least 80% of its managed assets in investments the income from which is exempt from federal income tax (except that the interest may be subject to the alternative minimum tax). The Fund may invest directly in securities or synthetically through the use of derivatives. The Fund's investment policies provide that it invests at least 80% of its total assets in investment grade quality municipal obligations issued by or on behalf of states, territories and possessions of the United States and their political subdivisions, agencies or instrumentalities, each of which pays interest that, in the opinion of bond counsel to the issuer, is excludable from gross income for federal income tax purposes. Its investment adviser is BlackRock Advisors, LLC.

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BLACKROCK Municipal Income TRUST > Support and Resistance for month of OCTober

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Comment by Reachmeon Oct 27, 2021 9:48am

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Post# 34053916

RE:RE:Support and Resistance for month of OCTober

Touran77 wrote:

Ghostinthedark wrote: Resistnace--$2.44

Support---$2.03

Questions are:

1. Will the daytraders and stree run the stock up to $2.44 before or on Friday, the day of earnings?

2. Do you hold the stock on the day of earnings?

As I said yesterday, it's been my experience that stocks are runnup until the day of earnings, and then sold off. OR the traders/short-term stock holders, believing that earnings will be good, hold the stock on the day of earnings, hold them as the stock pops, then sell their shares when there is a reversal on the chart..

As for myself, I am likely to hold on the day of earnings.

Hexo is a very good stock to own for the long-term... Drop down $1,000 and buy 500 shares...., at the current sp of $2.05, hold the stock, you will likely make a lot of money over the next 10 years on your $1,000 investment

BUY WHEN THERE IS BLOOD ON THE STREET.

Hey Ghost!

I for one am holding. Once again I think risk to reward is worth it. Basically if bad I think we will see around 10% downside and if good we could easily see 30% upside.
That is just my guess, no one knows.

As for run up into earnings. It is never the same but the rules below USUALLY apply. Hexo and the sector is so much oversold that it might now apply at all.

If there is a big run up before earnings and earnings are bad= huge sell off.

If no run up before earnings and earnings are bad= small sell off.

If there is a big run up before earnings and earnings are good= small buying.

If no run up before earnings and earnings are good= huge buying.

This is just 1 earning, it does matter for swing traders with short timeline for sure. But remember that 1 earnings doesn't dictate SP forever. Just look at big loss from last year, the Vernys and Quiets of this board were laughing at us for holding and then SP quadrupled in 4 months.

GLTA

Tonto