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Ship Finance International Limited Message Board

  • marklibera marklibera Aug 5, 2011 11:52 AM Flag

    OT: Susan put selling update

    Susan, in the interest of full disclosure, I think you owe the Board an update on your put selling results. While several of your comments on the economy and specific stocks (i.e. SFL) have been bearish, I note from your many posts on different message boards that you are primarily a put seller and not a short-seller or put buyer.

    This comment is not meant as a criticism of your views (many of which I share) or your strategy, but a request for you to illustrate how you manage your risk with this strategy during periods of large selloffs. Several of the posters on the boards that I monitor who also are put sellers are noticeably silent.

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    • Mark and Susan...Thanks, you both have made my day because I really love "Show and Tell"...all three of us seem to be taking a beating on IVR and I don't know why (IVR seems to have good color and an OK forward outlook), I don't know if I should sell IVR or add more of it to my current holdings (dollar cost average)...! At this time I am down almost 17% on IVR, yield 21.36%, and down about 20% on RSO, yield 19.03%, (without dividend add backs). Believe it or not, SFL is still my leading holding because almost all of it is free stock (spin-offs, previous profit taking, plus dividends) this time I feel that SDRL, SFL, RSO and IVR may be the best of my current holdings to add on to...! On one hand I am afraid I will miss a dead cat bounce and on the other hand I am afraid the markets will keep falling in value...not sure what to do at this time...! I guess if it was easy we would not need message boards to exchange different ideas (I now need to study some of Mark's and Susan's holdings)...Good luck to all...!

      • 1 Reply to staggman99
      • jolds both agency and non-agency paper. It is also one of the newer players in the sector and to be candid I must say they seem to have done a very poor job of timing their 2 recent secondary offers which came out on days when their stock was already at a weak price...this resulted in decline in book value which in spite of what some think is an important metric to evaluate. I am in via $20 puts for different months expiration with a strike price of $20 and for which I received an average of $1.85 so right now I am at about break even. Monday should be quite a day for the markets as S&P just came out with a debt downgrade for Uncle Sam..............this makes me even more pleased about having closed quitea few positions recently....More pain in store for the markets and buying opportunties to re-enter the markets will occur....take your time and do your research.

    • per share so I see you are having a great day here! No one agreed with me when I said this was a big sell at $23 for some huge profits..........they also disagree when this was $18.50 and my thoughts were that it would drop farther........I doubt your prognostications have been better than mine, but lets have at it!!!!Am awaiting your reply......we already know how GREAT you are doing here...Will not add anything until the DOW gets to $10,000 as that would be a fibinachi retracement (12,700 higher from 6600 low is about 6000 points...apply 38.2%and we get to about 10,000 on the DOW.........Am not saying that would hold but am saying that at that point some buying could be considered but with sale or corresponding covered calls of course..............

      • 1 Reply to sid66tb
      • Susan...Sorry, I cannot help you because mark is way to smart for me, maybe A-date can help you out of this mess that you got yourself into...! Susan, please step up to the plate and just tell the truth...the truth may hurt, but the truth will set you free...! While you are at it you may want to cover some of that naked stuff...!

    • should go first listing what you had prior to today so we can see how much you have made.....I did buy back some SCCO when it was up this morning but am making no new trades. your IDEA so you 'disclosure in full' FIRST

      • 1 Reply to sid66tb
      • Sure. I own a bunch of MLPs: EVEP, ETP, ETE, EDP, EPB, ENP, NRGY, MWE, NGLS, LINE, CMLP APL and ATLS. Most of these were bought a couple of years ago so I still have good gains. Bought MWE after their recent secondary so I'm now down on that and NRGY has given back a lot recently.
        I own IVR around $20 from last December. SFL has been a disaster but I don't have that much. I own SLV at $16. I own SDT and UAN and am still up on those (more on UAN than SDT). I bought GPOR at their recent secondary and am still up although it gave back a lot. Down on MHR which was also purchased recently.

        Sold a few positions during the course of the year with gains to redeploy.

        The lessons that I learned have been mainly to pay more attention to technicals:
        SFL should have been sold when the $17 support didn't hold.
        NRGY should have been sold when $34 support didn't hold.
        I chased MHR.
        IVR has not performed as well as other mREITs so have to decide whether to switch or to play that sector with options.

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