Virtus Stone Harbor Emerging Markets Income Fund of Beneficial Interest (NYSE:EDF)

Strategy Session August 4th, 2014

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Strategy Session
August 4th, 2014
   01:18
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EDF Weekly Chart

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  • jan2138: @yieldhogs $EDF: a ticker I sold at the wrong time towards the end of 2014. I got too concerned with the fundies, i.e. what was going to happen in the emerging market arena. Well, I caved and subsequently, it rallied after a long period of consolidat ...
  • jwstich: @jan2138 $EDF Very ugly chart as you indicated. Also very thinly traded. Will watch though for bounce on volume. As always, thank you so much for your input. Your knowledge and suggestions have allowed me to make significant $$. John
  • jan2138: @yieldhogs: $EDF; one I sold recently and have been watching for a reentry has been consolidating for about 6 weeks, and we have a volatility squeeze in progress. Which way will it resolve? It yields 14.13%, distributions have been declared for 2,3,&4/2015 at .18, same as they have been paying forever. Trading @ a 6.39% discount to NAV. What not to like? Only thing is the concentration in emerging market debt of countries that are dependent on oil and why I sold. However, the mgt. has been in this sector for years and I would think they know what they are doing. The fact that they continue to pay the .18 is encouraging. I am tempted to take another stab at this one. Next ex date 2/11/15.
  • Lrd123: @jan2138 $EDF Sometime back you looked with favor on $EDF. What about now?
  • Lrd123: @jan2138 $EDF Thanks, will keep looking
  • jan2138: @Lrd123 $EDF: Back in December, I posted that I was eliminating the position because of the portfolio's heavy concentration in oil related S. American bonds. I was and continue to be concerned about what might develop as a result of the plunge in oil ...
  • jan2138: @yieldhogs $EDF: because of the portfolio's heavy investments in Venezuelan, Brazilian and other oil related debt, I have decided to sell my positions in this and will wait to see how it performs in the face of this oil market. To date, they have had an excellent dist. history, but these are unusual times.
  • jan2138: @yieldhogs: $EDF has pulled back today after a nice rebound 4 sessions ago. If you are optimistic or even neutral on emerging markets, you might want to watch for this one to stop the move down, establish support and look like it's ready to rebound. It could happen fast and if it does before it hits 17.50 or so, it will have established another higher low. It yields 12.08%, has an excellent distribution history, and is trading at a teeny discount to NAV.
  • jan2138: @hazelb41 #High yielders: not sure what ones you were in and why you were in them. What I mean is were you trying to trade them or were you in them for the income flow? My philosophy is that as long as the fundamentals are stable to improving and the ...
  • jan2138: @yieldhogs $EDF: nice open candle today. If it holds, will be a a higher low. As posted, I did add some back on the 13th.
  • jan2138: @yieldhogs $EDF: have added another piece to this CEF which is trading at a very slight premium to NAV. It is yielding 11.86%, has an excellent monthly dist. history and looks to me to be at a decent entry level. I think it looks like it might hold here at the 200 day sma and establish a higher high and then bounce.
  • jan2138: @yieldhogs $EDF: I have edited my previous post if you happened to read it. I had the wrong chart up and did not notice it. Sorry. I still like it.
  • jan2138: @yieldhogs $EDF: has penetrated resistance, i.e. the 200 day sma, on a div. adjusted chart and heading towards a new resistance level on the unadjusted chart, the 200 day sma, i.e. 19.13. With a yield of 11.63% and an ex date of 11/6/14 for this monthly payer, it deserves a look.
  • jan2138: @yieldhogs $EDF: I revisited this one this morning. It established support around the 17.00 level and has bounced nicely over the last several sessions. Monthly dists. have been declared through the end of the year continuing an excellent payment history. With the yield currently at 11.85%, I plan to add some today.
  • jan2138: @yieldhogs $EDF: dists. declared through 1/2015. Next ex date 11/6/14.
  • jan2138: @Marcelomex I would not buy anything just yet. Normally, I am loath to recommend anything, but if I were getting ready to buy, I would be waiting to add to $OXLC which is a BDC, $GGN as a long term gold play when the metal stabilizes, $EDF which is an Index Fund, $VGR which I consider as an Industrial, $AI which is a mtg. reit, $SRV which is a CEF with a portfolio of energy MLP's and generates a 1099 vs. a K-1, and $WIN which is a Telco. These would be my choices which might not fit your needs, but it is a start.
  • jan2138: @yieldhogs $EDF: back down at support. Yielding 11.54%. Excellent distribution history. Pays monthly. Next ex date 10/16/14. Low volume trader so, there can be some relatively excessive intra day volatility. Limit orders only.
  • Jadee: @jan2138 I've been in $NLY since 2007 and was getting great returns until interest rates and the market downturn sent it crashing. As I have said before I still have a good portion of green lots from purchases and reinvestment's but also deep red ones and I've been slowly selling off those lots as the share price was rising and putting the proceeds into $AI among others. This week has seen another pull back so I guess I will be holding a bit longer but the div helps... Thanks again for $AI BTW what are your thoughts on $EDF I got stopped out on it a while back but have not bought it back.
  • jan2138: @Jadee $EDF: looks like it is establishing support down near where the last low was hit in early August. The 11.34% yield is attractive, and the div. history is good. It is trading at a slight discount to the 19.33 NAV. Don't know where you got stopped out, but this might be a spot to at least dip your toes back in. Next monthly ex is 10/16/14.
  • jan2138: @yieldhogs $EDF: not to beat a dead horse, but after an opportunity creating pullback, it has established support at the 18.70-18.93 levels and has moved up. It is yielding 11.26%, and trading at a discount to NAV again, i.e.2.3%. They have an excellent monthly distribution history-next ex date 10/16/14.
  • jan2138: @yieldhogs: $EDF; is again above $20. This monthly payer is still yielding 10.64% and trading at a very slight premium to NAV. Adding on pullbacks to the mid bb on a div. adjusted chart have worked. Purchases there are at a higher yield and at or below NAV.
  • jan2138: @ yieldhogs: Alert! There are quite a few Ex dates coming pretty soon so, get ready; $EDF=9/11/14; $FSC=9/11/14; $FSFR=9/11/14; $GGN=9/12/14; $GNT=9/12/14; $HRZN=9/16/14; $NMFC=9/12/14; $OXLC=9/12/14; $SRV=9/16/14; $TICC=9/12/14; $VGR=9/11/14. Enter, add, or trade around. Your choice =: )
  • jan2138: @yieldhogs: $EDF; as a follow-up to my post on 8/12/14, $EDF is in the process of establishing a higher low. After months of a steady uptrend, there was a reversal that lasted about 7-8 sessions, then a bounce off support, followed by 6 sessions to the upside, a period of consolidation and several sessions to the downside. I think the mid bb will hold establishing that higher low and reverse as it moves towards the next ex date, 9/11/14. The 10.90% yield is attractive. Just a thought.
  • jan2138: @yieldhogs: $EDF; if you want to see a classic example of a ticker hitting support and reversing, take a look at an unadjusted chart for this one. On 8/6/14, it broke through support, i.e. the 200 day sma, then closed just above it with an open candle and has continued on up over the last 4 sessions. The adj. chart shows a similar picture. As I've said, if the market can find comfort somewhere with developments in Argentina, I see this moving back up to the upper bb. That's a big "if".
  • jan2138: @yieldhogs: #yieldhog strategy session; Dan did this several days ago and you should note the moves most of the covered issues had made in the couple of days after he made it. Many reversed and showed a couple of open candles. Also, to underline the importance of not relying on your charting software for yields, $EDF was quoted as yielding 8.70%. The correct yield is 11.14%. $SRV was quoted as yielding 6.5% when its true yield is 10.60%. Those are 2 I can remember, but please check them out on the company websites. You should be checking the dividend histories of any issue you are considering, and you can make the calculation at that time.
  • jan2138: @yieldhogs: $EDF; is catching some bids and moving up 1.73% rn having been higher. I would not enter yet but wait for support to be established and watch the news for reports on the Argentine situation.
  • jan2138: @yieldhogs: $EDF; keep your eyes on this. There is considerable intraday volatility as the day's high of 19.17 and a low of 18.55 would indicate. This is a low volume trader so this will happen. I think it is trying to stabilize at the 19ish level. If there is positive news on Argentina, there will be a pop. I am not sure whether the news can get much worse. The yield is back up over 11%. If it begins to consolidate and look like it is establishing support, the adventuresome might want to consider entering or adding when it does. I will. They have had an excellent div. payment record.
  • jan2138: @yieldhogs: $EDF; this will be my only post today as it is day 1. Keep your eye on this ticker as this cef has Argentine bonds in the portfolio. I have an inquiry in to see if the account managers have anything to say about any potential hit to the NAV. So far today, it's holding its own, but the slide over the last several days is undoubtedly a result of concern about the exposure to Argentine debt. Hope to see you tomorrow.
  • jpbel2003: @jan2138 $EDF.. 4.1% of the portfolio 4/17/17 7% Argentina also 17.74% Petroles de Venezuela 8.5% 11/2/17 Imight sell edf tomorrow... also high yield sector is starting to come under a cloud... all funds might go tomorrow
  • jan2138: @rknight52 I think Gary posted my latest list of high yielders on the home page recently. You might take a look at $EDF; $ETW; $ETJ; $ETY; $EXG; $HNW which are index cef's. They do not yield nearly what you have in $PHK but have good distribution records and trade in line or at a discount to NAV. I have not checked the charts to see if there are entries.
  • jan2138: @yieldhogs: $HRZN; $EDF; both were up over 1% today in spite of overall market. Backing off a bit now. $SDRL and $OXLC rebounding a bit. Patience.
  • jan2138: @yieldhogs: #big pay day comes one week from today. On 7/31/14, the following tickers will pay dividends which you will see in your accounts when you wake up on 8/1/14. $AI; $DX; $EDF; $EIP; $ETW; $ETY; $EXG; $HNW; $MFA; $MHI; $VPV; $ORC; $NLY. And, $IVR, $MITT & $AGNC pay on 7/28/14. $WMC on 7/29/14, and the hors d'oeuvre, $NYMT tomorrow, 7/25/15.
  • jan2138: @yieldhogs: $EDF; per my post on 7/14/14, this continues to perform well. It is up 1.16% today and while I don't think entering rhrn is appropriate, I would watch for it to pull back to 20-20 1/4 and then, consider entering this monthly payer yielding 10.33%. If interested, check out the 7/14 post. Next ex date is 8/14/14.
  • infocus: @jan2138 - $EDF - No position. Just set an alert for 20.50 to keep an eye open for the trade.
  • jan2138: @yieldhogs: $EDF; some good news on this rather lackluster morning. They declare a monthly distribution of .18, same as last and many previous months. Go forward yield is 10.39%. It continues to trade at a slight discount to NAV, i.e. -1.23%.
  • Jadee: @jan2138 Adding to $EDF as it drops. I had very little emerging market exposure and I am willing to bet the current issues will not affect the emerging markets long term... Adding incrementally to $FSC, holding $OXLC and have done no research on $HRZN but will. May dump $TWO but it actually looked to be moving up recently and was barely down at end of day.
  • jan2138: @yieldhogs: $EDF; this CEF which invests in emerging market fixed income product has moved up 20% since late March and has been consolidating for a little over a month now. It did pullback twice recently establishing a higher high and 2 higher lows- ...
  • jan2138: @yieldhogs: #Ex dividend today; some of the tickers going ex today= $EDF; $FSC; $GGN; $GNT; $NMFC; $OXLC; $TICC. With the adjustments to portfolio values, account balances might look significantly lower than when you closed up shop yesterday.
  • jan2138: @yieldhogs: $EDF; in spite of today's market action, $EDF continues to move up along the upper bb. Even at this level, it still trades at an almost 2% discount to NAV. Monthly distributions are good through July. There is an ex date coming up on 6/12/14 producing a 10.37% yield, quite a bit lower than it was when many of us first entered but still very attractive. The 52 week high was 22.75 set last 7/2013. I would not be surprised to see it get back up to there by this July. Would be nice.
  • jan2138: @yieldhogs: $OXLC; $EDF; $WIN; interesting day yesterday for these 3 tickers. The S&P was down 2 but all 3 of these had a good day. $OXLC closed up 1.76% on almost 3 x's the last 10 day volume. $EDF was up 1.45% on triple the previous 10 day volume. $WIN was up 3.19% on 12% higher volume than the previous 10 days. Nice to see and even nicer if there is some follow-through today.
  • jan2138: @DragonFly $EDF; $EDI: $EDF, while a light trader, is more liquid than EDI with a bit more than double the daily volume. $EDF yields an additional 153 bp's and has a better looking chart rhrn. But EDI looks interesting as it, too, has an excellent div. history, trades at a deeper discount to NAV than does EDF and appears to be making an attempt to catch up. Good luck with it and thanks for the post.
  • jan2138: @yieldhogs: $EDF; continues its march along the upper bb. It still trades at a slight discount to NAV and yields in the double digits, i.e. 10.67%. It continues to pay an .18 monthly distribution as it has since inception. I keep saying it's difficult to enter because of its continuing move to the upside, but there were slight pullbacks in early May, and May 15th. If interested, you might watch for the next one and consider it then.
  • jan2138: @yieldhogs: $EDF; goes ex tomorrow, .18 monthly distribution. Continues its march up the upper bb. 52 week high was 24.859 on 5/15/13. Would be nice if it could eclipse that by Thursday=: ) NAV is 19.98 so premium has been eliminated for now.
  • issues: @NapoleonSolo Thanks Nap! I would agree. So I took a look at the following hogs: $PSEC $PNNT $ORC $EDF $AI $HNW $WIN. And the winners are: $ORC $EDF $AI $HNW $WIN, these are in the UPPER right corner winners circle. While $PNNT and $PSEC are in LOWER corner- in the penalty box. So which ones to consider? We've owned $PNNT $WIN $PSEC and $SDRL for years.
  • jan2138: @yieldhogs: $EDF; Since Feb. 3rd, when it hit the 52 week low, it has risen 15% and with the monthly dividends, 19%. It continues to trade at a discount to NAV, 3.91% rhrn. The distribution history is excellent. On an unadjusted chart, it has pulled ...
  • jan2138: yieldhogs: $EDF; good news. EDF declares monthly distribution of .18, same as last month and continues a long history at this level. Yld. rhrn is 11.44%. This is a good example of how patience can pay off. In Feb., things were not looking so good. The fundamentals were stable, i.e. they continued to pay the .18 distribution, the share price was at a discount to NAV as it is now. Emerging markets investments were out of favor but with sector rotation, EDF has rallied nicely.
  • jan2138: yieldhogs:$EDF; if you look at the chart, you will note that this CEF, after a nice run from 3/20/14, is taking a bit of a breather. For the last 5 sessions, it has been consolidating. One year ago yesterday, it hit 24.95, the 52 week high. Could it possibly resume its recent uptrend and head towards that number? I wish I knew but in the meantime, it is yielding 11.70%, pays a monthly dividend, as an emerging market cef, it seems to be in a sector that is attracting investors of late and is trading at a 7.46% discount to NAV, not to mention an excellent distribution history. If these points illicit a mouth watering reaction, I'd put it on a radar screen and watch to see if it begins to turn up again before entering or adding.
  • jan2138: yieldhogs: $EDF; continues to move up after a brief pause last Thursday. On a regular chart, the 200 day sma looms overhead. On an adj. chart, , it has penetrated the 200 day sma which has become support. Some money is rotating into emerging market paper. Yield continues to be attractive @ 11.54%. Ex date 4/10/14.
  • rknight52: $EDF @jan2138 - thanks for this one. I hadn't looked in the $CEF area when I saw the emerging markets in this recent uptrend. Looks good.
  • RtHereRtNow: #Yieldhogs-Monthly Dividends - If you're interested, here's what I track: $LNCO, OXLCO, $PMM, $BTA, $PSEC, $VPV, $VGM, $VMO, $CFD, $EDF, $EIP, $ETJ, $ETW, $ETY, $EXG, $FSC, $MHI, $GGN, $GNT, $HNW, $JMI, $NUO, $EVO, $ARR, $SBR, RCS...Enjoy!
  • jan2138: #yieldhogs: EDF; last Thursday, I added to this position @ 17.29 just before I hit the road as I saw an entry. This cef which invests in emerging market debt has a stellar distribution history, is trading at a 7.6% discount to $NAV and yields 12.35%. I know that the emerging market sector has been struggling, and there are different opinions as to how bad conditions are for the emerging market countries vs. those of the foreign credits considered already "emerged". I want some exposure to this sector as now, imo, is a better time than to wait for the crowd to say it's time. I feel that $EDF is a relatively conservative way to be involved.
  • jan2138: ...
    taxable: $AI, $BBEP, $CNSL, $DX, $EDF, $ETJ, $ETW, $ETY, $EXG, $FSC, $FSFR, $GGN, $GNT, $HNW, $IVR, $JMI, $MCC, $MFA, $MITT, $NMFC, $NRF, NRF.PR.B, $NYMT, $OXLC, OXLCO, $PNNT, $PSEC, $REM, $SDRL, $SRV, $TICC, $TWO, $VGR, $WIN, WMC.

    muni cef's: $B ...
  • wobblymansion: EDF: @jan2138 and @rtomczak-- Are you still holding EDF? I'm getting close to my stop on this one. $EDF and $WIN both losing, but I still like @Dana's assessment of WIN's cash and ability to pay dividends. @rtomczak: Did you transfer your $WIN proceeds to EDF? Or still holding off? I'll likely be stopped out by the time this posts. --patty
  • jan2138: $EDF @wobblymansion: action likely the press reports about emerging markets which are negative. I am watching it pretty closely. #Dividend declared recently is consistent with previous payouts.
  • rtomczak: $EDF @wobblymansion - I did not transfer as $EDF started to fall. May do so when dust settles from emerging markets. Watching it. Use 1 percent rule. Sell it and buy 1/2 back on 1% increase then the second 1/2 if it goes up 1 percent more.
  • rtomczak: $EDF @jan2138 - Since I do not own this, I am thinking of swapping out $WIN for a position in EDF. $WIN just seems vulnerable and going off a cliff here. My 6% loss is now 9% and the risk is too great. Thought it would rebound a bit, but it keeps going lower.
  • jan2138: $EDF @rtomczak: looks reasonable to me especially, if you will sleep better. $WIN is back where it was in July before it rallied significantly. It may or may not happen again. Folks are,apparently, expecting headline earnings to be a disappointment.
  • rtomczak: $EDF @jan2138 - I think I will sell half my $WIN and start scaling into EDF. This way I can participate if $WIN stages a come back. You know they always rebound after you sell them.
  • jan2138: #yieldhogs: $EDF continues to consolidate. At current share price, yielding 11.91%. Went ex today, .18. I added some @ 18.14, just about the amount of the adjustment for the #dividend. I did not get any yesterday with a low ball bid.
  • jan2138: $EDF @judysteiner: 5.76 discount to NAV. You can find this at a free site, www.cefconnect.com. Hope this helps.
  • jan2138: #yieldhogs: EDF; sorry to post business on this wonderful Christmas Eve, but $EDF, the emerging markets $CEF has had a nice 2 day move after a period of consolidation which followed a downtrend. The yield #rhrn is 11.39% for this monthly payer.
  • Poppy: WMC: @Dana - first, Merry Christmas to you and family and thank you for all your wisdom and guidance for us all these years. It's a good thing you mentioned the election notice since I was wondering why I haven't gotten one. You answer my question before I ask...Ha ha I'll hold on to my shares since it seems to stabilize for now...LOL. Am going to elect half and half, since the price is low enough to get a good portion in stocks. Am holding $TWO, $MHI, $PSEC and PHK...I like your suggestion of $EDF as replacement for AOD[just got rid of $AOD when it got profitable enough] .
  • cmac: $EDF - I'm starting a new #yieldhog position in EDF. 11.9% yield. Payout is monthly, which I like. Selling at 7.5% discount to NAV. I want a little overseas exposure, and am expecting that recent weakness in this $CEF is tax selling related, and overdone. @Jan2138 has made mention of this cef in the past.
  • jan2138: #yieldhogs: EDF; on 11/21/13, I posted that I had added some $EDF @ 18.21 because it appeared that it was establishing support. It continues to consolidate and has moved up some since then. It is currently yielding 11.76% with an ex div. date coming on 12/11/13. It is trading at between an 8 and 9% discount to NAV. It has paid a monthly dist. of .18 since inception in 2011.
  • JB: $EDF - @jan2138 - anything from yesterdays conference call?
  • jan2138: $EDF @JB; I found it focused on general conditions in the marketplace as opposed to specifics regarding the cef. It was not a typical earnings call. I found it boring, and I did not stay on the line for the whole presentation.
  • marcus: #Yieldhogs EDF. @Dana, I am an idiot and can not remember anything about $EDF that you have said. I see emerging markets focus and a really bad chart. Am I missing something? Marcus Misfire on my part. @Dana did a great overview of this issue on 10/17. I wait for entry
  • jan2138: $EDF @ marcus: I have been waiting for it to pull back to support so, I could add some which I have done.
  • jan2138: #yieldhogs: $BSD @russ1030; depends, if it were I, and I was not long this one now, I would take a small initial position so, I would be more inclined to pay attention to its subsequent moves. The weekly shows it beginning to stair step up after an e ...
  • :
  • gold2stocks: ...
    French state-controlled power utility Electricite de France (EDF.FR) Tuesday said it has agreed to withdraw its opposition to the merger between U.S. utilities Exelon (EXC) and Constellation Energy (CEG) as they have both agreed to maintain the oper ...
  • jspilos: I read a note somewhere that one of SOLF's suppliers failed to deliver on more than 50% of an order. I believe it was in IBD. Can't locate off hand, so sorry for the limited info. As for solar plays they just don't seem to trade in tandem see $FSLR vs $STP today. Just an observation. from IBD: Solarfun reports deals, problem The maker of solar-power cells and modules inked 2 deals to secure supplies of polysilicon, but also noted a problem with a subsidiary's supplier. Solarfun Power Holdings' deals are with Wacker Schott Solar, which will deliver 140 megawatts worth of solar wafers, and $EDF Energies Nouvelles, which will deliver at least 17 megawatts of modules. The problematic supplier, Jiangsu Zhongneng PV Technology, delivered only half of its promised amount. Shares fell 8.85 to 25.20.
  • strasse: Nuclear plants being built... "LONDON (Reuters) - France's $EDF plans to build four nuclear power plants in Britain and expects the first one to be complete by 2017, the world's leading nuclear power station @operator said on Thursday... "This is a crucial step towards a secure, low carbon future and heralds the arrival of a new era of energy policy, placing the UK at the vanguard of the nuclear revival in Europe... There is no time for delay in meeting the country's energy challenges and the whole project now moves ahead." Hmm... wonder how many we are going to build in the US? I'll send a letter to Greenpeace and ask them.
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