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Ship Finance International Limited Message Board

  • chrisg989 chrisg989 Jun 20, 2013 10:02 AM Flag

    buying opportunity?

    anyone buying anything? I picked up some PGH at 4.88 which yields about 9.5%, pays distributions monthly, reported on a 1099 as qualified dividends. Canadian taxes are withheld in non retirement accounts (15%). Its an oil and natural gas play.

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    • I bought 2 call optioins on sfl today 15.30.
      I bought 2 2.50 call options on aci
      I put an order in for 25 shares of vnr 27
      bought 75 shares of two today
      247 share of dyai @ 1.65

      I will wait a week and see what shakes loose before buying more I have several options I will be exercising on the 22nd. They looked much better before today.

      Next on my list is
      FCX call options
      aldw/nti depending on how far it dips

      I also have some money in Smithfield that I can cash out at anytime to put to work

    • Depends on your risk tolerance. below $15 would give you %10 yield at the present dividend level. if you think that is safe than starting to nibble there would be a start. If you think the overall market trend is going to be down SFL went below $10 briefly in Jan12. I think if the price drops around $14 it becomes a no brainer as long as you can wait 6 months for the pay off.

    • Chris, I don't think a buying opportunity is here. We are testing the 50 dma on the overall market (some averages are still a ways above their 50 dma) and I think that level gives way eventually. There will be some bounces up if we get oversold, but the short term top is in and the trend is down (lower highs and lower lows). Some have said the S&P could go to 1500. This could be the reverse of what we experienced previously when every dip was a time to buy, and this time every bounce is a time to sell. Watch the 10 year to see if rates peak -- some have expected 2.4% and we are already there today. And of course, watch the techinicals on any stocks you are hoping to buy.

      • 2 Replies to marklibera
      • mark,
        stepping back, don't you think the underlying strength of a recovering economy will support the market? Is there any sector or stock you are tempted to own at this level? There must be a bargain or two out there. CVI was off nearly 7%, giving it a yield of about 6%. TRGP was off 4.5%. That's quality and a price I could live with.

      • Agreed. Bargain hunting will be risky here. We broke thru the psychological level of 1600 S&P and next levels to keep an eye on are around 1580 and 1540. Also if we go past 2.5% on 10 year note it will get really interesting. Tomorrow market wil have another excuse due to Oracle's results.

13.23+0.15(+1.15%)Feb 5 4:02 PMEST