The overall trend in PSEC has been deplorable, to say the least. That it is up a dime today speaks to the need for balance and support on the part of some whose reliance upon regular income is readily apparent. I predict that PSEC will retrace to lower levels as soon as the market shows a bit of resilience to the upside.
I continue to hold my position but am not adding at present. There's simply too much volatility to support longer range choices. As for gauging things by examining extremes in today's trading? I believe it would be a mistake as extreme range boundaries such as we're reeling from are quite unusual. Given that much, I don't believe many here are prepared to trust their perceptions. After all, volatility has two middle names:
1. fear
2. negative expectations
These two items have me thinking that if things continue to be somewhat out of the ordinary or out of control to a degree, then we may see a scenario far worse than that which is evident in this moment.
The key here is to exercise extreme caution and take nothing for granted. It means that this is definitely not the time to use margin to grab that incredible fire sale price on a stock. And today's great price could very well become tomorrow's disaster.
Slides can be multi-faceted. Kids love them at the playground but we groan-ups tend to see things differently.
Good luck, everybody! And take anything I say with a grain (groan?) of salt as my assessments may be worth nothing more than those of another---imply trying to contribute to a meaningful consensus here.
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