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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (46934)	7/28/2012 10:12:43 AM
From: E_K_S	Read Replies (1) \| Respond to of 78464

Gastar Exploration 8.625% Serie (GST-PA) - Peeled off higher shares for a small sale Hi Paul - I sold a few of my higher cost shares of GSTpA, booked a small profit and am working on lowering my cost basis in this position. I use these preferreds to park money and like to manage this position to build a low cost basis. I set a GTC order to sell a few shares above the market (usually 3% above the market and my cost). Every now and then, they get sold and I am able to buy those shares back anywhere 5%-8% lower. I was able to do that w/ a few of my GSTpA shares. I also have preferreds that are selling above PAR (usually $25.00/share) and I do the same thing with those positions. I keep a GTC order above the market and periodically I am able to sell some shares above PAR and book a nice gain. Just be careful to use (1) All-or-None limits and/or (2) minimum acceptable quantities or you may get partial fills. Most of these preferreds are thinly traded so be alert to trading volumes and ex-dividend dates to get the best prices. EKS