Been watching SD but like HK better. Actually bought 100,000 SD Friday at .84+/-..........might should have sold on the pop Friday but I like to live dangerous. I think oil is going back to $70 in next 3-6 months. I want to build a position in HK on any further weakness. The Iran deal and their 30-50 million barrels of oil floating off their coast doesn't look to hit market soon. Oil demand is actually rising with production. Rig counts down every week but one in 8 months. I expect a lot of M&A soon that will pop sector IMVHO. Very high risk though. DaninFW
good insight, thanks. looks like the entire sector is moving which is a good sign as well. I thought it may have lost steam after the considerable run up recently but maybe there's some short term momentum still to go.
Sentiment: Strong Buy
i don't hear a thing and I've asked around the street. I do know from being in the hedge fund space for many years that there are a lot of guys looking for ideas on the long side as valuations elsewhere have become stretched. Then you have West Face who predominatly invests in Canadian companies show up...then the chart breaks out, and a lot of guys BUY breakouts instead of guessing it won't and sell...Then Gabelli put out that report I sent Dan about spectrum values being enormous for EVC...A lot of hedgies buying this stock...I know that for a FACT....I know nothing else...and I know that is a FACT also!! I'm long a bunch from 2 and change and haven't sold a share...Someone will monetize this as long as you hang around the net long enough..
On a side note I have visited about 20+/- Caribbean islands and on about a dozen of them the Chinese have paid for new soccer stadiums. Talk about buying political favors........when I was in China a couple of years ago I was amazed. The people love Americans and want what we have. I think every Chinese I saw had a smart phone. I said when the Chinese took over Hong Kong it would be the best thing in the world. It taught them that Capitalism worked.......
Glad you have done well. I wish I had bought more USCR warrants myself. At one point I thought I was crazy for owning 70,000+/- of them. They just keep doing the Texas Two Step. I have almost sold a dozen times and each time a few weeks later they are worth another $70K+/-..........the yuan is a very interesting story. One of my sons double shorted the Chinese stock index a few weeks ago and has made a fortune. I have never played currencies. The Chinese refuse to let it float. If they ever change their mind it is going to be interesting. They are the largest holder of US debt at $1.3 trillion. As they emerge as the world's largest economy the world as we know it will change. DaninFW
Watched for years and used to play Massey and did well before they got bought out. The sector looks bleak right now. BTU might be only survivor but it was down a bunch yesterday. Good luck. DaninFW
Seems like you timed getting out pretty well, at least according to what I see in my portfolio. I also thank you for USCR. I bought some at 5, but sold at 10. Bought back in at high tens, and at that point started collecting warrants, but not as aggressively as you. While I listened to you, I was too timid to jump fully in the water. I would be a lot wealthier if I had jumped in the deep end, but six figures is nice enough.
Looking forward to seeing EVC go higher as spectrum values are played. EVC with $8 spectrum value (maybe conservative) could easily tack on a few more points.
I am also looking into what effects the yuan becoming a reserve currency will have , and how to play it. This could be a major play, the type that is once a generation, so I want to do it right. Fortunes could be made or lost here. What is your take on this?
Dan, interested to hear your thoughts about the current coal industry. Looks like WLT, ANR, ACI are all very close to BK. BTU might be the only survivor of the group. Hard to believe all of these coal names look like they are going under. Do you see any value in this sector at all? If any survive, it should be an easy 5-6X money within 2 years.
I think most stocks are overbought and about 85-90% cash as of today. I do a little trading each day but waiting for something to pop myself. MEG is going to look very good IMVHO if it drops $1-2. I am patient. I have several on radar like HOV, RFP, MEG, EVC. GLTA DaninFW
I also wanted to thank you for your posts. You have been very generous in sharing your insights. Would you mind giving me a recommendation of where to put cash while waiting for the right stock opportunity?
I still think EVC and MEG best two stocks to play the spectrum play. I just really believe LPTV group will file a lawsuit and put off another 6-12 months. For me that would be great and LT holders just have to wait longer. I believe the longer it takes the more money will be paid as well. DaninFW
I sold all holdings but USCR warrants today with exception that I bought another 20,000 GTN at $15.57-$15.58 today for another trade. Overall market looking like a 2-3% "correction". EVC looking weak today as well with lowest volume in 8-9 days and closing at low of the session. Looks like it's ready to drop 25-50 cents to me. GLTADaninFW