Mostly: Classical

[amarksp]

still thinking outside the box, Frank...

Added a position in GIM from some of my gold stock proceeds @ US$8.00, pays a 6% dividend ($.48/$.04 each month), and has a NAV today of $8.67 (thus, purchased at a 7.73% discount).

http://www.franklintempleton.com/retail/jsp_app/products/closed_end_fund.jsp?fundNumber=946

A review of GIM trading history reveals that GIM sells at a premium when US$ trending lower and at a discount (like now) when US$ trending higher. With my GIM purchased today at a 7.73% discount, this implies Euro would have to fall from 122.73 close today to new 8 month low of 113.25 for me to be "out of the money" at today's purchase price... Thus, I am inclined to collect my 6% monthly dividend and wait it out, believing that the 1.179 double bottom will hold... That's the game plan for now...

Any flaws with this logic Frank...? GIM consists almost entirely of low-risk, foreign government bonds with a 5 year average duration, so not much length of maturity risk either...

http://biz.yahoo.com/bw/040518/186047_1.html

http://quicktake.morningstar.com/CEF/snapshot.asp?Country=USA&Symbol=GIM&hsection=quote