stock option guru sid66??? Haven't heard a peep for almost a week. This had to hurt big time shorting SFL at $10, now selling for about $12.60. Risky, risky, risky!!
Here's the post that's only purpose was to support that $10 put position on SFL to get the board to dump their shares.
Back a few weeks ago the poster claimed... "Oil tankers and bulk tankers are the absolute worst sectors in the market...paying little or no distributions and failling daily. I sold some $10 puts on SFL for 65 cents today... will accept those shares when they come to me but not at current prices.".....Got a long wait gambler!
The reason sid99 stopped posting is the nice steady appreciation of SFL and another .30 dividend. The only thing sid99 has done right lately is bet on AGNC.
Disregard sid99's posts as they can be hazardous to your wealth.
Haha. I bought POS at $1 & sold at $2 a week later, so I made like 50,000 % annualised profit Im so smart. But no! I re-invested the profit every day and annualised that so now I got more money than Bill Gates squared. Except its all IN MY HEAD.
Anyway, seriousley, are SFL still offering dividend in equity or did they stop that yet?
...."G-facts...Update,> All the new and current data seems to suggest that shipping will start to show a strong recovery in 6 to 12 months and not the 12 to 18 months that I stated in a previous post...!".....
Sentiment : Hold
You're on the right track, staggman, but it appears the recovery is already started with most analysts looking for a 3% GDP growth (which is not chopped liver) in the 3rd qtr and much the same in the 4th. Starting the 1st of the year we should start seeing robust growth, as you indicated, and where there's strong growth the tanker shipping industry is sure to participate.
As I've indicated SFL should hit $15 by year's end and look for $20 plus in 2010.
Those with patience to buy and hold SFL will be well rewarded. With the global stimulas packages kicking in, it won't be long before shipping rates start climbing and with SFL's locked in contracts and their long term deep sea rigs bringing in substantial revenues, I see nothing but good, steady stock appreciation with healthy dividend increases thrown in.
The same thing is happening with SFL that worked for me when I took a big position in QMAR in 2007. Made a ton on that deal and will do very nicely with SFL too. The irony here is that I bought QMAR in March of 2007 for the dividend play and I did the same thing with SFL in March of this year. I guess my lucky month for buying stocks is in March.