Financial 15 Split Corp T.FTN

Market Set up

[Golferman]

I have now sold all my FTN holdings as the market is now showing some major risk and the charts are showing signs of a significant pull back coming..... IMHO

I will wait on the side lines to see what happens and what the charts say before jumping back in.

Golferman

[mouserman]

I never sell a holding that is discounted, unless it has UNIT NAV that is below the level for paying to commons.  Now something trading at a big premium now that is another story.

[Golferman]

I still agree that FTN is a good buy however the S&P charts are now showing a strong possibility of a sharp drop with support setteling at 4682..... Until the market shows me a different set up I will remain on the sidelines.  Golferman 

[NoShoesNoShirt]

S&P500 futures  Barchart Trading Guide BUY SIGNAL The Barchart Trading Guide is a Buy Signal with a Strong Signal Strength.

[EdPaquette]

Golferman. Splits rise on the 10th and 15th as dividends are paid.  They rise around the 20th as dividends are declared. They keep rising until exdiv.  You may want back in for a week or two. 

[Experienced]

mouserman - I agree  Generally it is a good strategy to buy splits with a low or negative premium.  Buying splits with a high premium just adds more risk because the market may decide to lower the premium regardless of what the underlying stocks are doing.

[mouserman]

Yeah , and imo LFE is the best ( high risk ) buy out there right now  as I have the NAV @ $15.22 with tomorrow being the calculation date for Quadravest. Last sale @  $4.78 means the discount is nearly 10 % for a common share well above the level for paying. 

[Experienced]

Mouserman...yep...great catch!! Was able to pick up a few scraps from under the dinner table...lol As we discussed before, the life insurance companies are good investments. I would expect, based on my past experience with LCS last Fall, that once they announce the dividend is back on we will see a big pop in the SP between now and X dividend.  Fingers crossed that the market doesn't

[mouserman]

Markets are kind of flat to down today, altho the US banks  all green today... not sure what would be the driver sending those up... election year? Cad banks not doing so well, NA and BMO the only 2 of the big 6 that are in green numbers. CAD still up nearly 1 % vs USD .. since April 30th... FTN will be fine ... for a few months at least...but hass been a pretty strong runup the past 2 weeks