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Calumet Specialty Products Partners LP Message Board

  • chinookcook2000 chinookcook2000 Apr 3, 2013 11:37 AM Flag

    Well I guess I screwed up on this one,

    why is it dropping so much on a strong buy rec? what else is causing this bs. At one time this was up almost 40% for me I saw no reason for the drip yesterday and tripled my bet at 35.55 this whole market makes me puke.

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    • i guess it's bad luck to go ex divie on a #$%$ day. no news...buying opportunity soon...mw

    • could it be you should have sold then?you can always buy it back when it goes down.

    • nobleonetoo@att.net nobleonetoo Apr 23, 2013 8:24 PM Flag

      Since your April 3rd post - CLMT is doing well - but your message still gets answers.!

    • CLMT needs to speak just like CVRR. Look at the headlines at CVRR. CLMT needs to comment. Otherwise this STRONG BUY is a hold. I'm long dammit, but the divvy makes me whole, so far not drowning. If this little #$%$ in Korea does something......Someone needs to give him money for his people so he shuts up and doesn't open that nuke plant. 2017 is too far off, it that little #$%$. Anyways I may liquidate on a bounce to even money, and put it in NTI, or another high payer since the whole complex has been thrown away now. Any divvy payer is down big. I have no money Long CVRR, CLMT, UAN, and a very small position in HEK @ 4$. 45%, 25%, 25%, 5% respectufully, no cash. Sold my GNC yesterday for CVRR @ 31.08$. AT LEAST WTI HAS FALLEN BIG! SPEAK CLMT speak. Hedge to pally
      kenn
      sorry for the rant guys. I like this co. that's why I bought. Sold at 38.5 and then the share sale and it didn't break 37. DARN!!!!!!!!

    • I can empathize, chinookcook. Like you, I jumped the gun and increased my position yesterday, by buying calls. I should've waited until this thing settled. Hang in there! Later this month, CLMT will likely announce an increased distribution. We might also hear of another good acquisition. If so, this thing will rally.

    • CLMT is just getting dragged down with the entire refinery sector. VLO is down 4.6 % while CLMT is down 4.16% as I type this out plus on top of the recent secondary, This can and should be expected and capitolized upon. I've owned this since sub $9.00 and have used pukey days like this after every secondary to aquire more. One of my largest positions. Love is a prerequisite in relationships not investments but CLMT is pert near as close as it gets.

    • if you still like the stock and are planning to hold it, you can sell calls against the stock and get to break even or ahead, the last i looked the 35 april calls which expire in 2 1/2 weeks are priced at 0.75 to 0.85 cents which gives you a break even point if the stock closes at 35, gives you 75 cents if the stock is below, but also limits your upside to 35.75 if the stock decides to suddenly go to 37 in the next few weeks; i find it is often best to do nothing about selling the stock on emotional days when the stock sells off a lot and consider how to repair the trade; you could also sell november 40 calls for 85 cents or november 35 calls for 2.40 but those options lock in future gains - you didnt screw up the market is irrational and too many of us forget buy when blood is running in the streets and sell when there is euphoria

      • 1 Reply to malcolmmark
      • I personally do not sell calls on a long term holding when it technically is oversold (as it is now on the daily chart) unless I 10 want to sell or 2) would make a nice profit on the position. I'd be more a seller of puts- Right now the premium from selling Nov 30 puts yields more (on an annualized basis) than buying CLMT at 34.51 and holding until nov- whith obviously much less risk

        CLMT like all the refiners is getting especially hard hit because of the lower sulfur content regulations being targeted by the EPA which will cause refiners not already incomplaince to spend a lot of dough (and down time, possibly as well) to modify their refineries. not sure how exposed CLMT's refineries are in terms of the sulfur content of their fule time for some DD

    • You are not alone in your feelings, my friend

      Sentiment: Hold

 
CLMT
27.29+0.41(+1.53%)Oct 21 4:00 PMEDT

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