I ran across XOP in WSJ. Has 81 stocks in its basket the largest less than 2% of portfolio with annual expenses of 0.35% while RYE has about 40 in the basket and expenses of 0.4%. RYE has more Majors and service companies than XOP . XOP would go well with XLE and cover most bases. But I would not be suprised if some of the XOP basket merge of fail trying to secure financing, so in no rush.
Eusdond , So you say you bought on a high in Feb 2011 and held without trading,averaging down or even considering all the Dividends you received ? I have read your posts on other MB and somewhat doubt your veracity
Than FSC in the BDC arena but I can't seem to find them... They keep recycling the same management from this place to that place but it's still the same management that brought me a 40% loss from Feb 2011...
I still continue to hold hoping that someday someone will wake up...
I'd be pretty surprised if they do cut. Some of their peers who are in weaker positions than MEMP (VNR, LGCY, LRE) all announced they were keeping their distributions the same but reserved the right to cut later in 2015 if spot energy prices are still depressed.
Everything that MEMP management has done the past few months gives me the impression that they are focusing hard on trying to differentiate themselves from the rest of the pack as being the safest and strongest. The big insider buying, the 150 million unit buyback, the clear presentation on their best in industry hedging, etc. I think their hoping all these moves attract more and more money into MEMP to get the unit price back up closer to $20 so that they can have a lot more financial breathing room in what they do next.
All of the refiners have just been on a tear lately. PSX ran from $58 all the way to $68 in just a week. HFC, MPC, VLO all gaining big. Wish I had the conviction to buy lots of them last week.
A ton of people are still well over their heads with debt obligations. So many youngsters graduating with $30,000 of student debt and nothing but a $13/hr job (if that) to start their working life on. Housing starts have completely stalled, there are no first time home buyers out there anymore.
I've been trying to buy some on the cheap, but thus far have been thwarted. Every time I put a limit order in, it will creep to within a penny of it and then move back up.
Could make a good day trade, oil might open up monday, just because it closed down today. It is a gamble when the trend is against you.
That's OK J-man. That's what makes the Market. UWTI will be a short term trade.....either way, win or lose. Have a good weekend.
I sold my DXD for a dime and sold some energy stock. The covered Call on XLE worked well with it tanking below strike on the close. I actually earned a good weeks pay for a laborer today with chump change trades. Neither i or the market have direction.
May be a good move. I was tempted to grab some KCAP and even my smart friend asked my opinions on it. I just had not followed it closely and therefore reluctant to buy.
I'm going to follow Clodrick into some pale ale.
A strange market indeed.
Cheers to the board!
Well, DOW all of a sudden started dropping and closed down 141 points and DXD rose 1.62%. Good that I followed my own advice and added more DXD. If the Greek election went the wrong way this Sunday, watch out for Monday. Everybody has a great weekend.
Strange as it may sound, I have to agree with slick, because of the increased production of US Shale oil and Iran plus Saudi's refusal to reduce oil production, oil price will continue to tank.....Sorry.
wti can easily go to 30 in a week. supply is building daily, not decreasing. Visible market excess is over 1million barrels per day and there is over 1 million barrels per day being put straight into storage that is not visible.