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Strategies & Market Trends : Bonds & Bond Funds
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To: Kapusta Kid who wrote (159)5/2/2011 10:54:57 AM
From: Kapusta Kid2 Recommendations   of 161
 
Sold out of NQJ, a Nuveen closed-end NJ Muni Fund. Made a few $$$ in cap gains and collected a couple of months of distributions. But if Jeff Gundlach is correct, which he often is, there will be better opportunities in munis down the road. Mostly, I need some cash to replace my 22-YO central AC system. The compressor was making an awful noise and it has been my experience that machinery usually doesn't heal itself. NQJ was the best candidate for a sale and I decided to exit the entire position while I was at it. I'll probably put the rest of the proceeds into a floating-rate preferred.

Still hanging onto VKI, where I'm holding bigger profits, but with an eye toward selling soon. Interest rate risk has probably abated for a while, but I'll take my cue from the fact that there hasn't been much in the way of inflows into munis, despite the 15-20% haircut they suffered a few months back.
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