I’ve been asked for a PhilStock tip. Well, remember when it could be said that “bad news is good news on wall street“?
No longer. Now bad is bad. I call these “blood days” on the stock market, and the only statistical advice that has held up over the past turbulent years is: Never try to catch a falling knife*.
*For more, you’ll have to seek my stock blog.
Do you still hold Diamond Offshore? Cratering, no?
Ah, the mascot–can’t link now to explain to the reader–but yes I do have my DO, and at $48 it’s a 7% dividend (.12 + .75 special) quarterly.
Old trader joke: What do you do when the sky is falling?