I’m Pat Rosenheim, a.k.a. the PandA Trader.
This Watch List Update will be issued monthly, or as warranted. These results focus more on closed end funds than other issues. This will also be the focus on a “go-forward” basis.
Hindsight can be 20/20, foresight not so much.
I can’t always “hit it out of the park”, but below are my targets.
My expectations have changed. My new (slightly lower) expectations for the #HYHRD (High Yield High Return Dividend) Portfolio:
I target a minimal annual return on price and NAV (both `10%?) and a minimum 5% dividend yield for income.
I used to target a minimal annual return on price and NAV (both `20%?) and a minimum 7% dividend yield for income.
I am hitting some of my targets, and regularly harvest and reinvest (or withdraw) gains.
What follows is one of my methods to screen for possible investments, and the one I currently use most of the time;
In a previous post, I outlined a method to screen for and select new additions to the portfolio.
I modified the procedure slightly since that post, but it is generally the same screen. Basically, I look for yield of 5%+ paying monthly, positive return on share price and NAV, positive UNII balance, (optionally: and trading at a discount to NAV), (see below, and modified yet again).
I used a similar process when I first started investing in CEFs last year.
- run (012717), (05282017), & (061517) screener(s) @ cefconnect.com
- add initial results to existing list from previous screens and current holdings (see below)
- also add any interesting finds from StockTwits and/or Seeking Alpha interactions to existing list from previous screens (see below)
- chart up to 10 results on stockcharts.com using PerfCharts with standard 200 day timeframe.
- remove any symbols that are not performing over ~30% and add more symbols until ~10 are charted, repeat until list is exhausted.
- remove all but the top performers and list those results in the title of this post
- optionally, run that list through chartmill.com and look for setups, etc. (I am still experimenting with this)
This is what I currently own (listed alphabetically in groups of 10);
ACSF, ARCC, ARR, BDCL, BDJ, BFK, BGH, BKN, BTA, CEFL
CLM, CRF, CSQ, CXE, DFP, DHF, DHY, EAD, ECC, EVN
FFC, FHY, FIF, FLC, FPF, GAIN, GLAD, GOF, GUT, HIX
HPF, HPI, HPS, HYB, IVH, JPC, JPI, JPS, KIO, LDP
LEO, MAIN, MAV, MFM, MHI, MITT, MORL, NAD, NEWT, NHF
NRO, NRZ, NVG, NZF, OAKS, OIA, ORC, OXLC, PDT, PFD
PFO, PHK, PHT, PMF, PML, PMM, PMX, PSEC, PSF, RA
REML, RFI, RNP, RQI, SAR, SCM, STK, TICC, TLI, TPZ
This is the whole watch list which includes results from 2 previous screens and includes conversations with others (but excludes my current holdings);
AWF, AFT, ACP, BHK, HYT, BTZ, DSU, BME, FRA
BGT, BKT, BLW, BBN, BUI, BSL, BGX, DNP, DBL, EFT
EFR, EVF, EVG, ETO, ETG, ETB, ETV, EVT, EXG, FSD
GLU, GBAB, VLT, HTD, MGF, NHS, JQC, JRO, JFR, JMT
JLS, JMM, NSL, JSD, PFL, PFN, PHD, PIM, ZTR, IGD
GDO, HYI, IGI, DMO, WEA, PNNT, IRT, STB, CPTA, AOD
SUNS, HRZN, AWP, CINR, CIG, BXMT, RVT, AINV, NYMT, AGNC
AINV, FDUS, MRCC, PFLT, TCPC, STB, DOW, VOD, BCE, HTGC
TWSAX, VAGIX, BLW, TWHIX, DTE, ARI, CY, NSA, CHCT, AGD
BIF, SOHO, BBK, CMU, FMN, IQI, PMO, NMZ, DEX, STB, SJR
This is from my “spur of the moment screen” (061517);
ADX, CII, BME, EOI, EOS, ETY, GRF, FFA, GPM, IFN
JOF, ASG, GF, IRL, JCE, DIAX, QQQX, BXMX, SPXX, PCM
PTY, PCN, PDI, PKO, PFL, PFN, RIF, HQL, ZF
This is the chart (or charts) of those performing at or above 30% for 200 days (ECC, MORL, MITT, STK, SCM, TWO, AWP, CY, AGD, SOHO, GF, HQL), according to the PerfCharts on stockcharts.com (I currently own all but AWP, CY, AGD, SOHO, GF, & HQL);
This is the chart of $ECC $MORL $MITT $STK $SCM $TWO $AWP $CY $AGD $SOHO performing at or above 30% for 200 days
This is the chart of $GF $HQL performing at or above 30% for 200 days
I also like to run the final symbols through the CandleGlance Charts on stockcharts.com. I think the 1 year view (with MACD indicator added) gives a very good visual representation of past performance and some insight into future direction. The P&F charts are my favorite tools, albeit somewhat overly optimistic.
I also like to look at the charts in thinkTDA, which is the old thinkorswim charting software, so I’ll leave you with a screenshot from a 1 year chart of TLI (apologies for the fullscreen 1920 x 1080 resolution):
As always, YMMV!
PLEASE TAKE NOTE AND REMEMBER THIS!
I’m not telling anyone to buy anything or giving anyone any advice, because that’s illegal. You see, I have no letters after my name, like RIA, CFA, etc. I SIMPLY DO NOT GIVE ADVICE. I only tell (and show!) what I do. You, like me, are all alone in this.
And remember, always do your own due diligence!