What's the deal with PSEC's drop? Oh, they just decided to have a large offering- 35M shares!http://finance.yahoo.com/news/prospect-capital-corporation-p...That's not a trivial number, about 20% dilution. With over-allotment, about 23% The companyhad some carry-over income that should help on the dividend side. But then the concern becomesthe dividend safety with the huge share dilution. I added more shares @ $10.95/sh, but nowI am wondering if I need to poke at this idea a little more. I don't really want to replayan AINV type pull-back, followed by a dividend cut a few months down the road. Shares anothersimilarity with AINV- PSEC is my second largest individual holding, while AINV was my largestfor many months.I noticed the OSG bounce today (11/2). I'm guessing this has something to do with today's Jones Actannouncement. I have tried my hand at short term trading but OSG is not one of those typesof ideas. Way too many unresolved issues.Speaking of penny ideas, SQNS was continuing its downward spiral, then suddenly caught awave- up nicely in the last hour or two.
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