ARCP--time to jump?

[ronn38]

I'm going to do what we generally don't do here, ask advice buy/sell advice.

I bought into ARCP years ago when it was riding high (a full position; i.e. 3%), and I've tried to stick it out through this whole mess (lessons learned about sucker yield). So far I've lost almost 40% of my initial capital investment, and all of the dividend yield. So, whereas I'm not having a "Kodak moment", I'm as underwater as I care to be.

I’ve wanted a position in WPC, and have been accumulating the cash for a full position. Everything about WPC seems a better bet than anything ARCP might be able to managing in the next few years. Therefore, think my best course of action now is to let ARCP ride up (as its doing today) and on the first pull back sell, then hold that cash until WPC drops below into the mid $59's and buy in. This would give me about a 2/3 position in WPC, and I could also add a ½ position in EMR—seems like a win/win.

This seems like a no brainier actually, but just wondering the degree of agreement vrs contrarian opinion out there?

Thanks,

Ronn