I know that many posters are active traders but aside from me is anyone else determined to hold at least some SYRG to at least $9? My present plan is to hold my entire core position. I did pick up more shares yesterday that I may sell in the $7 range. This stock is too volatile to not do some trading...
star1_stock You research was not wrong. STNG stock selling at these levels appears to be irrational. But timing a bottom is almost impossible. That's when something more important than research applies. Patience and determination to not have you stock taken away from you at ridiculously low prices. Hang in there. At least those are my thoughts. Good luck to both of us...
mcstan51 I bought EPE in the $7 range and continued to average down until my cost basis was in the $4 range. It went to $1.60. I felt confident in my research and held on. I was fortunate to sell my entire insanely large postion at an average price of $6.8 in the short sqeeze of early March. The point is this. Patience and confidence in your research will eventually win (IMHO).
em2372's mean spirit is exceeded only by his ignorance. He also twists facts and tells baldfaced lies about me. He has demonstrated almost no in depth of knowedge in any post of his I have seen. It is true I bought BBEP and UPL this year but posted the I was gambling in those posts and that it represented only 1% of my portfolio. My posts are usually legitimate attempts to explain what I am doing and the reasoning behind my actions. I believe em2372 to be a nut job, but more importantly, worthless to any board he postd on.
I just averaged down with a second purchase today. It can go below $4. So what? It will eventually be worth way more and we get a divivend while we wait.
Technically I believe they actually help ASC and the other tanker companies. Low oil prices help promote more trafficing in oil. The rates charged to transport oil are a different market based on tanker supply and demand. Therefore the tanker market should improve regardless of oil prices. The niche finished products market for ASC should be the first tanker market to start its recovery.
For those unfamiliar with the term "greenshoe", it is the additional shares that could be bought at the $8.80 strike price within 30 days by the buyers of the secondary offereing.
I like STNG and ASC. Both are top tier companies in this industry. I bought STNG shares this morning and more ASC shares as well. Just wait a few months. I think we will be very happy...
I have every confidence that I will make a ton of money here. Either the greenshoe won't happen, which it probably won't, or the group that planned to buy at $8.80 will buy at these lower levels. It's a heads you win tails you win type of situation (IMHO).
I go with tank. I am no fan of either candidate but the market does not like confusion and uncertainty.
Only 5.7% of the float is short. This stock may be too thinly traded to attract a plethora of shorts. This stock will rise based on it's excellent valuation and the fact that it is insanely oversold. INSANELY OVERSOLD! So much so that I even sold some of my beloved DVN to buy more ASC as it headed to the mid $6 range. My cost basis is now $7.06 . But even with a cost basis well over $9 one should make a ton of money here within the next 6 months (IMHO).
It could be back there is only a few months time. I am still adding to my position. Now is the time to be a buyer, though I admit next week could be an even better time. You can't usually time a bottom, but I know a value play when I see one.
I should point out that we are talking about next year not this year as this year the hedging program will keep them in good shape.
Is that some companies can tread water in the mid to upper $40 range but EPE, in spite of super low drilling costs, cannot. This is due to its large debt load. Fortunately for them interest rates are still very low but they may have some difficulties going forward. I would like to know in the next conference call if they hedged any contacts in the low $50 range. I believe they can tread water in that range but I believe that a material portion of the production is probably still unhedged.
So much for predicting a given stock price in a given week, though the week is far from over. I still see ASC soaring in the not too distant future. I hope so I bought a lot and may buy more..