Although there has been plenty of volatility in the interest rate market, BlackRock TCP Capital Corp. (TCPC) has remained range-bound since we originally recommended the trade. It appears that investors are still uncertain about the Fed's plans for rate cuts in 2024, and that has kept interest-rate sensitive stocks like TCPC stuck in a groove.
When we recommended the position, we said that we don't recommend holding it for longer than the 21 trading days that Predictive Alpha uses for its forecasts. It has been 21 days today, so we recommend closing the trade for the best price currently available in the market.
So, here's what to do…
Set a limit order to sell BlackRock TCP Capital Corp. (TCPC) at the best price currently available.
At the time this alert was written, TCPC was trading at $11.41.
Trade Notes
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John Jagerson & Wade Hansen Analysts, Predictive Alpha
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