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North American Energy Partners Inc. Message Board

  • lancekoliver lancekoliver Oct 3, 2011 10:35 PM Flag

    Thinking of taking a "flyer"

    I'm out of my EUO (too soon, no doubt).

    Also sold most of my FAZ at 3:58 (and still missed some upside before the close ... how did I do that?). MJ: You still holding your TZA?

    Now, depending on what happens in the morning, I'm thinking of buying some AMR for a quick bounce.

    I really don't think the company is going bankrupt any time soon. It has $4 billion in cash to burn through yet. And after today's carnage, market cap is down to $600 million or so.

    Anyone want to tell me I'm crazy?

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    • Lance, Congrats!, turns out to be a great move/timing so far.

      • 1 Reply to katehaluk
      • Thanks, Haluk. I got lucky with the timing of my FAZ sale (60% at the close Monday, 40% Tuesday morning). I've learned the hard way to take profits when I have them in those leveraged ETFs or they may evaporate quickly. But I know you're a veteran of those wars too.

        I did make a small trade in and out of AMR but barely made lunch money on the deal. I should stay away from those kind of trades, probably. Not my thing.

    • I agree the AMR thing was over done, but I'm sticking with TZA still. On a better tape I'd agree with buying AMR here, but not so sure it won't get dragged down further with the rest of the market. I'm thinking we see IWM print a $53 before it is over. Also, think we see WTI bottom around $71 this time. I doubt I will be a buyer of any bounce though. Will look to short it again instead.

      Also, agree you are way early selling EUO (and FAZ).

 
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