I feel comfortable buying at $3.90 but the short answer is no, I...

I feel comfortable buying at $3.90 but the short answer is no, I have not bought any this week. My CLW exposure is very modest. It's a bond proxy / term deposit which I add to, on weakness & re-invest distributions if possible. My last purchase was at $3.95 in September last year.

I currently see a lot of value in parent company, CHC, and bought some of that a couple of days ago. CHC is not as safe, but there's greater upside in my opinion. A lot of downside is priced into property stocks in general. "We could get another couple of rate rises" is a big part of the bear case, but everyone knows that and it's not a surprise to anyone.

It feels like despite the All Ordinaries being pretty healthy, so many of my individual stocks are looking sick. Don't even ask me about a certain retail stock l thought was great value a few months ago!

I have been very heavily in cash since this time last year, when l sold a lot of my oil/gas and REIT stocks at a good profit. I've been buying very slowly into stocks which are out of favour, cyclical and are paying good dividends. Made a couple of stupid mistakes. That's what I like about cyclicals: buy quality, in small amounts, buy more on weakness, try to exercise discipline. Be very patient. Things can and will always get worse before they get better. When a whole sector is in the basement there's always a turnaround eventually but a lot of aggravation in the meantime.

For this stock to be down 18¢ in a day is huge. There's a chance CLW does *not* rise sharply early next week, then loses another 7-10¢ when it's ex-distribution on 29th. I suspect there's currently some tax loss selling and general sector malaise. I'll be waiting for the 29th and seeing how CLW looks then. In the current market, as per my previous post, I'll only be buying CLW with a "3" in front of it, and only in moderation. I have bigger fish to fry than to have a lot of dry powder tied up here, but will happily shave a few cents off my CLW average purchase price and increase my distribution at the same time.