Looks Like This Will Bleed to High 5s Mid 6s RangeUnless it stops at $6.80. Not too happy about that but what are you going to do? It did jump quite sharply from $4.19 to 7s that caught my attention coupled by the divie which i thought would be enough of a deterrant to see the price go down like this. Guess i was clearly wrong.
Now i will continue to debate about whether i add in pricrs of $6s probanly 6 even or less but not likely more on the basis of whether the divie will be sustained. If i feel it can be i see the payout that doesnt miss anything it is possible to buy in 7s although that is high if i am looking at a 1.5 sell strike point but if i bought another good chunk and get $100 plus a year in the divie i may not sell but the equity i would expect to toe the line above 6.50 because with full divie payout in what i hold i will be about 6 to 7 percent down. While not desirable i want to hold my loss on this at under 10 percent which gets threatened lower than 6.5 and if irregular payout.
I will keep an eye and make my longer term strategy so far with seeing divie will payout properly i continue to hold and still look to add possibly after July although again i will see if i want to put more of a potential cushion with this or buy more pennies. I dont know but i would like to possibly round out to 100 shares but that still wont get me to $100 in annual divie providing it pays as desired. My goal will be looking at $140 to $180 possibly 200 a year divie but again i will need to see how things pay out and plan with and without divie in mind. Without will mean i need to sell at the very least at 1.5 times my pick up price.
Interesting stock and seeing how to manage it. Long term i like its potential but i am looking for shorter term secure monies to offset my overall losses and was hoping this wouldnt have added to them. No such luck so far...average $7.39 so not too happy but i did read to see what was said. If this keeos treading down it will become another buy consideration possibly among my primary choices.