I guess you can just click on that link that someone posted in conversations and will take you to this one. They haven't relented just some glitch. Any thoughts on LGCY, VNR and MCEP after earnings? Have you ran the numbers? Thank you
I guess we'll find out Aug 4 after hrs. I have this dislike for companies reporting Thu after hrs and conf call on Fri. Kinda like they're trying to bury something into the weekend. Any other dirt cheap bonds that you're in? Running out of investment material LOL
Actually I made out like a bandit. I believe I sold my VNR around 22-23, bought EROC at 16.75. Sold half of EROC at 33 and bought WTI at 25. Still have 100 EROC. WTI jumped to 32 but someone dumped 1000 and brought it down some so I bought more at 30. I don't think the value of the deal is worth more than 45-50 cents. In the counter they have that 30 cent unsecured but it only pays 1% interest for a while, so I imagine no one will pay 30 cents for it if I was trying to dump it. That's my understanding but I'm not very bright. How long do you think until they come to an agreement? Or maybe the company will counter...Any updates if Franklin is buying more bonds?
tried to put a bid in at 9 cents and still shows accrued interest. Called etrade and they said that some traders are trading w interest some without and would advise not to place the order otherwise I may be paying interest. Hmmm BCEI exploring opportunities. Dodged the bullet on that one. Sold it last week
It's like North Pole in here. Yea, noticed US production dripped 200k from last week. Hopefully not LGCY lol. Was looking ready to break out a bit and then bottom fell out. Rotated some of my LGCY bonds in WTI, about 50 of them but frankly WTI is becoming a bit expensive, so I'll stop for a while. I like them at 25 or less.
yea those are pretty safe lol. Can't find Armstrong bonds. On CLF I'm just long a bunch of January calls. I think that one is gonna skyrocket come earnings. Hard to find many moonshot bonds anymore
I still have 100 EROC and I think that over the immediate term there is more upside in that. Bottom fell in oil and gas today and that didn't help. However there was a lot of buying pressure in EROC and I think I'll hold that a bit more before I make the switch. I don't think WTI will move until there is a resolution w the second lien or the BOEM. Any other bonds that you're in?
someone dumped 150k shares at market 5 min before closing. Wondering if it's the person who converted the bonds for 2.7 mill units a month ago. Otherwise I can't really explain this selling pressure for the past month
don't feel bad. Dumped 100 eroc bonds average 33 and bought 100 wti at 25 and with the difference bought 5000 LGCY common at 1.77 about a min before some bright guy sold 150k shares at market causing the price to crash. AArgh and it was such a good day until 5 min before closing. That LGCY move cost me nearly $10k
Thanks. Didn't know that the BOEM was based on debt metrics. I'll probably make the switch from EROC but would like to get 35 cents. I would like to pick up another 10k LGCY common with the profits. Who knows...I may get it. VNR has been spiking a bit
Thanks. I've just looked at WTI. Seems to me like the debt exchange would help the company a lot but in my opinion the bond price may not really move until it's done. 69 shares plus 20 cents comes up to about a 30 cent value after dilution for someone who would take the deal. My concern here would be the BOEM surety bond of $260 mil. They don't have the cash for that. What was the low price for this bond? Do you know? Am I missing anything?