I would also buy more but it is quite doubtful that we will get there. So today I went all out buying. The downside is maybe 50 cents? The upside is maybe $12? So I decided not to wait.
I agree. The worst case scenario is already baked in. Yes STNG can go lower, which is even more insanity, but the upside way way outweighs the downside (IMHO).
limikeellc - What's a syndicate guy? Also I am very deep into SYRG with a base position at $5.80 average cost. I plan to continue to hold my base position. Please let me know what you are talking about with SYRG. My cost basis for my base position with ASC is $7.08 but it is not the best trading stock because of the spread, so I don't anticipate trading it very much if at all.
This quarter probably yes, Next quarter who knows? But I am buying more shares today because longer term this is a $10 stock. I no longer care about the downside as I believe it is quite limited especially com[ared to the updside.
I practice what I preach as I bought more shares just now. My position in now quite significant. Hope I am right.....
I looks like this type of question may become a silly one sooner than later, the finished product tanker market is starting to turn around right now....
If you would, raise hands..or.. thumbs up..otherwise no hands, or thumbs down...By the way, I don't think STNG will go there, but one never knows anything for sure on Wall Street but the crooked insiders...
The FBI report on Hillary clearly shows that if she was not almost our president, she would be serving time. Now I have stated that I don't like either candidate, and I don't. But in spite of Trumps obvious negatives, he is starting to look a bit better to me these days. I can't believe what I am saying...Well, at least he does support our industry which we know Hillary does not...Hillary is so out of touch with real life economics she favors banning fracking with would put our security and entire economy at risk.
Due to consistent energy demand and limits on supply due to limited capital spending and a limited workforce, citibank is projecting $60+ oil for 2017 and the $50 range for the second half of 2016. I tend to agree with them.
Trump is an uncouth big mouthed bully who has no government or international experience at all. Though my disdain for Hillary's dishonesty, regulations overload and out of touch leadership has me thinking of voting for him...Heads you lose tails you lose. A most unfortunate situation.
First, STNG was not down in after hours but second and more importantly, the volume of after hours trading usually makes the stock price irrelevant.
I think that this fact, and it's ramifications, are being underestimated by Wall Street. DVN's debt was upgraded by Moody's and the stock went up today. Great, I also own DVN. But SYRG has no debt. This is a very very significant advantage in this industry which is known for its heavy debt load. Just thought I would remind the board of this fact.
A reverse split is not a scam. However it is often a desperate attempt to keep a poorly performing company's stock as tradeable as possible. Statistically reverse splits are not a good thing, however there are a number of exceptions to this rule. The main issue here is the performance, or lack of , of this company. If you believe the company will turn around the stock will take care of itself. I cannot give an educated opinion on this company, but from its business performance so far I am not sure why it has any investors left. They may know more than I about this company, industry or both. Good luck to the longs...
mtay515 Calling a given price on a given day, week or even month is quite difficult, if not impossible. Do you have other positions to distract you?
I think we both agree that both companies are great value plays. ASC stock prices and STNG stock prices will travel very much in sync. I wonder who could give our discussion a thumbs down? I suspect I know who. All kinds of posters on these boards.
We agree that there may be another secondary but I can't see it with SYRG selling below $8. Not when then the secondary in April went for $7.77. I expect they would want at least $8 on another secondary if not more. The last secondary was in desperation which is why it went for $5.80. They desperately needed that Wattenberg property and were willing to do anything they had to to get it without incurring debt. They are not desperate anymore. But it's ok to see things differently. An exchange of ideas is exactly the purpose of these boards.
Both companies are super values but even though I own both and expect to make a ton on both ASC has certain advantages. It's dividend is tied to the earnings, therefore there is no risk of a dividend cut. It also has a more uniform fleet which makes it an easier buyout candidate. Finally instead of buying back shares which doesn't help the business ASC is buying ships at exactly the right time. Therefore I like ASC a bit better.
Got here too late to see. You may be rady to sell sonn. I picked SYRG to trade today. I expect it will close up. presently down 8.5 cents.