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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Joan Osland Graffius who wrote (96569)	7/7/2002 9:37:49 PM
From: Mark Adams	Read Replies (1) \| Respond to of 132070

I really like the site. An answer to a prayer, some weeks ago. On selling down to par, if you watch closely, you can sometimes buy before the x date, with a limit order, below intrinsic value. That's what I did with GPB & VPA- the 6/30 dividend took my cost basis below the call price, though with roundtrip commish, I'll probably barely breakeven if they call VPA today. It took nearly three days to land one of the two issues, as I learned the MM patterns. On VPA, did some looking today, the callable date was 6/30/02, AAA corporates are currently yielding 5.67% with this issue yielding 6.7%, so it's possible they will try to refund it. So I'd leave this one alone unless it was trading south of 24.75 or near a new dividend date (assuming a 100 share lot). On the other hand, if rates begin to rise, callable should be less of an issue...