FAX is a closed-end, non-diversified investment company seeking current income through investment primarily in Australian debt securities. The Fund may also achieve incidental capital appreciation. It won't this year. with a yield of 6.09% and a price loss of 3.21% this is not a winning position
I'm afraid of all sovereign and municipal debt in the short term. The great argument at present is whether to raise revenue and cut spending or cut taxes and raise spending.
Technical reasons:
- 60% Barchart short term sell signal
- Barchart Trend Spotter (tm) sell signal
- Trading below both its 20 and 50 day moving average
- Relative Strength Index 46.16% and dropping
Jim Van Meerten is an advisor to Marketocracy Capital Management who uses his model portfolios not only to manage their mutual funds but also their clients Separately Managed Accounts. You can read his blogs about those model portfolios and investing here and on Barchart Portfolio Blogs. Please leave a comment below or email JimVanMeerten@gmail.com.
Disclosure: Jim Van Meerten through Marketocracy Capital Management has an interest in the stocks mentioned in this blog.
Disclosure: Jim Van Meerten through Marketocracy Capital Management has an interest in the stocks mentioned in this blog.
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