I agree and keep adding. I owned this before when it was $14 and went to $37 and see it as a good risk to reward. When Toyota Finance floated three-year debt with a 0.02% coupon in April. It tells me people are crazy and I need to take some risk on some parts of my holdings. This has be a wild 18 months if you be heavy in to oil . Today (TOO) has traded in the last hour or so at $4.15 to $4.75 that can make a guy happy or said real fast.
Sure this can be day traded. BUT BUT BUT BUT if things pan out This stock could be trading at $25 + in four years . It could be like buying GE @$15 OR Ford #$%$00 or BAC @ $5.00. I bought all three of them when there was blood in the street . If TOO does not sink to the ocean floor this could be a very profitable long term hold. When they feel financing in future is under control and inch up the dividend little by little the price will rise. With interest rates being low for next few years there will be buyers looking for yield and it is not like the contracts they have are with some no name companies. What will Petrobras or BG royal dutch shell be trading at in four or five years plus the dividends you get over the years. I think (TOO) closes up 10% today with financing out of the way for now
Golar GLNG down 8% Cheniere LNG Down big today also symbol SEA shipping ETF all down today. Figures I added the last few days. I will take the DIV as long as they keep coming I can wait it out. The Bank stocks are hurting me today as well.
A Lot of Teekay,s companies are held in etf funds and when the selling gets going in oil stocks they follow the group up and down.( TOO ) and ( TNK ) Have been dropping even on days when oil price was moving up.. It has been hard to invest in a market like this. I watch ETF synbol (SEA) Guggenheim Shipping ETF
It would be nice if there was a discussion about encana stock here. No one wants to come here with all the spam. No wonder they trying to sell yahoo. They can not even figure out how to have the message boards work without it being 80% spam. To bad because it nice to discuss stocks with other investors