Thinking about adding to FOE if it goes sub 6.50pps, earnings next week 02/29/2012 though. Seems they don't disappoint very often. Will watch action, this has a 4 beta, might get in and out before earnings, lol,. Don't think I am that nimble.
NN might be back to 9pps, but ok need to pull back some after nice run up. Only hope we are not seeing beginning of overall market correction, too soon.
Hello again to the NNBR crowd, I bought back in (I never got out 100%) this AM at 9, seemed like a cheap price, had sold 80% of my shrs over 10.
Posted a while ago about my LNG plays, like LNG. Hope someone took note, LNG and GTLS were the big movers, GLNG less so.
Loaded up on VVUS Friday AM, up 25% in 2 days, amazing story, we pay for fat people to get fat, now we'll pay for them to take drugs to get less fat. No personal responsibility in this country anymore, just drugs. So I'm making money off it.
CLD was Rio Tinto spin off to raise cash, at first thought the company would die off, (only had 8years of reserves), and the management would be hired back at Rio. But this managment has since bought new properties and now view as ongoing concern. Have owned twice and made money each time.
I fully understand about you NG concerns, which is why I mentioned the 1975 event to manipulate the price of gas. With the 100 plus years of NG reserves has to make us face the needed conversion to use this resource.
You comments are well taken. Did you know that drillers in many cases are starting to covert their rigs run off the NG from the well and are saving thousands of dollars per day per rig, versus, diesel.
Any way either the companies have got to figure out a way to reduce their cost or demand more money. They will no drill at a loss and an investor just needs to figure the right time to get in. And it just not be vesting in Oil and Gas is not your cup of tea, like the last thing you will see me buying is Tech, as I have only one out of many trades that were actually successful. Usually the outcome was not very pretty, lol,.
Nat gas scares me. I am no expert, but have heard that many drillers for oil also produce nat gas and thus will produce nat gas below cost just to get the oil. Many flare it off at the well etc. having said that, everything can be bought at the right price. CLD seems like a very well run company. I like your entry point at $15, will keep an eye on it. Thanks for the ideas.
One last thought.
I don't know how old your are, but if you can remember 1975, when gas prices fell and profit margins pressured. The oil companies curtailed production, capped wells and called it a shortage. I waited my share of hours in line for my 8 gallons of gas when I lived in California.
NG is cheap, but the producers are not going to sell for a loss. Bad business. You have speculation utilities will convert from coal to NG. But this won't happen because they will look at the cost to convert and know the producers will not continue to sell at a loss.
But, while the street is thinking this, it will depress the price of coal and coal stocks will downtrend. So put on your watch list CLD, I have bought before and sold at 30% gain. They produce a premium coal but their share price will also trend down in sympathy of the other decrease in coal stocks.
I have entry price target of 15 to 16pps, if successful see an upside of 20pps, for a 20 to 25% gain.
I could be way off, but assuming oil will continue to rise and NG depressed, think this is the play.
Your comments are most welcome.
Hey culley hope all is well. I have sold almost all my NN as I was shocked at the low multiple general bearing sold out at. Made a nice chunk of change on the run. With respect to FOE, I just bought another big stake at 6.75 yesterday. Not sure about the earnings, however over the next 6 months it could double. JMHO Anything looking good to you these days?
Thanks Snoop, even if they disappoint think your right about a possible double from here.
Kepping lots of cash now but this is one buy I still wanted to make and will probably do so tomorrow.
I have sold alot of NN and still hold quite a bit. Don't think you should compare with that acquisition. I am waiting for 12pps and/or conference call before passing furher judgement.
Did you see my slot machine THLD??? Paid out again this week, waiting for Phase III.