(03-25-2020, 09:18 AM)EricL Wrote: Sold my CBRL this morning on the dividend suspension.
Will likely sit on the proceeds for a few days to reevaluate, as I think we will see a retest of the lows again.
I don't know about retesting the panic low because the bad news is now out, but it's not staying up here. I do hope Divemenow isn't a bad influence on you Eric.
I hope you don't think I am day trading a significant amount of my port because I absolutely am not. But you gotta work with whatever the market and economy is dealin'. Every crash is different and this one brought historical volatility. It's been easy to move from one sector to the other with the ebb and flow of 10% swings. Sometimes it's obvious you can very likely avoid further capital loss. Even if you don't catch the actual bottom on a CBRL re-entry, it's highly likely you can own a few more shares. I've done that repeatedly the past few weeks.This isn't as obvious as the UTE impending UTE decline, but $100 isn't the near-term bottom for CBRL. I wish it was because I still have plenty of shares. CBRL will return to 125+ and pay dividends, but it's highly likely to be a rollercoaster. You know that of course. You can do something as easy as sell CBRL at 100 and buy back at 90 and still be better off when the dividend comes back, and it will. They said "deferred" for a reason. They know they are a mature restaurant chain and have to pay a dividend as soon as possible. If they have to borrow a billion of near zero money they will do that.