Sold PG/Pared PGN/Bought 50 of the CEF IAE-Averaging Down

1. Sold Proctor & Gamble at $56.89 (see Disclaimer): Those shares were bought at $47.59 in March: Bought PG While I would view my purchase price a good entry point for a long term hold, it was also a good entry point for a short term trade, and LB is 1/2 trader. Besides, I mentioned how underwhelmed that I was after a Proctor's earnings update. Consequently I noted then a lean toward selling the shares on a pop. / Proctor Update

2. Trimmed Progress Energy by Selling 30 at $39.96 (see disclaimer): The first shares bought of PGN were the highest cost shares, and they were sold this morning at close to break even, possibly with a small profit after adjusting for dividends. I will keep the lower cost shares bought in April at less than $36.

3. Added 50 to IAE at $15.28 (see Disclaimer): IAE is a closed end fund offering from ING that invests in high yielding Asian stocks. I have previously discussed my intent to dump all 30 of my CEFs at some point during the next bull market. By adding some to them now, I am giving myself more leeway, just as a mental issue, of when I will "feel" right selling them. Even Headknocker has to deal with some of the "emotional" issues that arise occasionally in being a long time Stock Jock. Maybe, it is less of an emotional issue and more a product of a competitive spirit. Do you think the young man in the picture shown in this earlier post accepted defeat with quiet equanimity, TBT vs. PST: Hedging Corporate Bond Positions, or the 17 year old shown in the profile picture to this blog.

In other words, lowering my cost basis some now will enable me to sell at a profit sooner during the next bull cycle. IAE has done okay, considering what has happened in the market prior to March of this year, and the current dividend yield is good, around 13% based on my cost. MarketWatch.com Quote Dividends are paid quarterly. ING Asia Pacific High Dividend Equity Income Fund - Distributions As of yesterday's close, it was selling at a small discount to NAV: ING Asia Pacific High Dividend Equity Income Fund - Overview Several CEFs have cut their dividends over the past year but this one has yet to do so.

This funds fact sheet and reports can be assessed at the ING site: Forms & Literature

I also added 100 shares to a CEF that invests in bonds, selling at about a 10% discount to NAV with a 10% dividend. Dividends are paid monthly. I bought a 100 shares in early 2007, and I am down about $400 on those shares. Adjusting for the dividends, I am done around 1/2 that sum. I view that purchase as a mistake, when made, and it was a mistake to keep the shares throughout 2008. I do not view the purchase now as likely to be a mistake, with improvements in prices for corporate debt, the high current monthly dividend & discount to NAV for this CEF, and the almost nil money market dividends received on cash these days. However, my sole purpose for adding 100 now was to lower my cost basis, and to hopefully sell the 200 at close to break even after receiving more dividends in cash at the current rate. Again, this is more mental than anyone else.