Agree with you Slick. Thought the Saudis had screwed up saying they could get by with $50-60 oil as well as their pronouncement that oil would $60 by the end of the year. Had thought this was all posturing on their part.
In the last week bought some more AST, more EARS, more NTLA, and rebought ENDP (for the third time). Waiting for market to fill lowball orders for more KMPH and more ENDP.
For the last 4+ years have followed OPTT - Ocean Power Technologies from when it was selling for pennies until recently. Happened to catch an article that OPTT had a secondary share offering coming up and the price went down on last Thurs evening rather radically - from $4.50 to around $2.75. After researching back found that OPTT had some major contracts that just came in, thought that the selling was overdone. Bought in at $2.85 and sold today at $3.40. OPTT is an alternative energy company that makes electricity by using the bobbing motion of buoys to generate electricity.
Also sold all of PMD (sold while I was ahead $2.75+/share - was range-bound) , ABBV (sold while I was ahead $3/share), CY (gave up hope on the merger - and made some pocket change), CHK (made a $1.50/share) & LMAT. Will rebuy CHK & LMAT when they run lower. Sold a smattering of PNNT just to have more cash available for opportunities (PNNT has been on a slow decline in price).
Running behind on TEVA, WFM, FTR, and MYGN - oh well can't be good all the time.
Am also looking for other investments in alternative energy. One technology that is fascinating, but currently cannot find any stocks that manufacture the systems, is making ice with electricity to cool buildings. What happens is that basically large cooling units are installed that make ice at night from midnight to around 6 am. Then throughout the day the ice is used to cool and condition the air in medical centers and commercial office buildings. The ice is made from midnight to 6 am since commercial rates on electricity drop through the floor since there is not much call for it (most folks have left the office for home). Am looking for smaller companies - not the GE's, Siemens, etc.
Yeah I've had a good slug of MAIN since Dec. 2014. Just sitting back collecting dividends. One of the core holdings @ $25/share.
Main just announced that they will pay their customary (and wonderful) supplementary dividend of $.27.5/share. Ex-div 12/14, Record 12/16, payable 12/23. Starting off the Christmas season well.
Agree Keltus. Had to buck up and buy some more of the stocks that went down today that had no reason to go down. Guess that means that Monday will be a blockbuster day??? Sorry wishful thinking.
Was looking to research a few BDC's for a longer term hold (up to about a year). My parameters are should pay a decent interest, be at the median point (give or take) in sales price or lower, and not run by psychopaths.
Ran through my list of BDC's with the filters above and came up with only 3 candidates BKCC, OXLC, and TICC. Was underwhelmed with TICC and OXLC since they are run out of the same office and have no portfolio listings on-line like MAIN and others. BKCC did not seem too bad but did not break out the individual companies just percentages of portfolio.
In the past have owned ARCC, GARS, FSC, MAIN (still own), PNNT (still own) and others.
2016 has been a weird year. It is an election year which has meant for last several elections that there was a recession in the cards. In Jan- March was convinced that a recession was eminent. Our computer animation and art business had started to slow down. Usually our type of business is the first one into a recession and one of the last out. March through August was very slow. But starting in September the business picked up and with fits and starts is puttering along just fine.
The market seems to be following the lead of our business. Was pessimistic about the market for most of the year until July. The market seems now to be in a holding pattern with a slight downward emphasis.
Most of my time this year in the stock market has been spent on buying and selling Bio-Pharma. Have spent more time this year analyzing, buying and selling stock in drugs and healthcare equipment. That has turned out fairly successfully. Out of 28 stocks we currently hold 13 are either healthcare related or drugs.
Stocks in other sectors do not seem to have the upward momentum of drugs but rather seem to be stuck in the mud. Knowing that when drugs are in the ascendancy, the stock market is in the late stages of a cycle is somewhat a cause for concern. But need to keep soldiering on.
Today was a more fun day, except for the post that disappeared. Had bought LMAT on 8/22/16 for $17.63 and today sold it PreMarket for $20.25. Reinvested the money in more AST and more NTLA (which was crashing today). Also sold 1/2 of CY for a $.20 gain since the price is moribund and the expected buyout is seeming remote. Will buy more NTLA if it breaches $13. Got enough for now. Will consider more LMAT when it gets under $17.50.
KMPH was up to $5.70 this am in Pre-Market ($1 over my buy-in price). Thought about it and let it go; think it will go higher. EARS was also up this am in Pre-Market but also took a pass on selling. Will go higher.
Going to let FTR keep on doing what it wants to do. Price did not go low enough to snap up more. Got close but not quite. FTR is all about being disciplined in buying to ensure good selling results. Been there done that before with FTR. Still waiting for ENDP to come down a little further to get back in.
Finally CHK is reluctantly going on the selling block. Think it is about at its' apex. It seems to be stuck in a range of $6 - $6.50. And with great malice and loathing am looking forward to dumping SPLS soon as it gets going in the right direction. The current direction is a non-starter.
A decent day of trading with a beautiful day and sunset.
Bear, I am also in deep with FTR. But I am content to wait for the stock to hit in the $3.90's and then buy bigger. In the meantime, will wait for the dividends to roll in.
It will take 6 - 9 months for FTR to digest the Verizon properties and make sense of what they got. When FTR gets a good handle on what they bought then they will start to see probably what a bill of goods they were sold by Verizon. For instance, when FTR bought the Verizon assets of WV - FTR was told that the structure was in-place to run FIOS with no problem. Guess that the "in-place structure" was that the telephone poles were up. The reality was different in that Verizon barely got dial-up working in WV and only in the larger cities was DSL available at the time of sale. Since then FTR has been having trouble with the Attorney General of WV on when FTR is going to fulfill Verizons promises as well as getting the promised speed that FTR customers are paying for (currently getting about 20% of the speed promised).
It appears 8 years after the gobbling up of Verizons WV assets that FTR is going to get the equivalent of FIOS to larger communities. AS to internet options there is Comcast (truly awful) and Dish Network (dodgy at best). No other players. So Frontier has a semi-monopoly.
So why keep FTR? FTR is one to buy on the dips - like when FTR buys up more Verizon properties or the shorts get ahold of the stock. The price does not appreciate a lot but the dividend is steady. Also FTR is one of a style of stocks that will resist the coming recession (if it comes), IMO like grocery stores.
As to the media doomsayers about divie cuts, etc. ......well they have to write about something to prove they are worth a paycheck and most of what they write about is opinion mixed with conjecture and ladled with a fair amount of addled thinking. Wait two weeks and they will have a new favorite stock to opine about. DD is your only solution.
Wise, my reading of "the deal" is that they agreed to make an agreement (non-binding for now) about a deal for November. No actual cuts were made yet. This is just pre-spooking the market. We have 6-8 weeks before this pseudo-deal becomes reality.
In addition, in the past the cheating by the OPEC nations was so rampant on other deals that the "deal" was just a smoke screen to hide behind. I can't imagine the Saudis cutting back except on paper their flow of oil - along with Nigeria, Libya, Venezuela, Iran, Iraq, et al are addicted to oil money. No money = unrest in the populace -can't have that. So oil will pump, pump, pump.
Some people actually do still use IE. It is less of a space hog and does not track you as relentlessly as Chrome.
End of July through the end of August bought and sold ENDP (who make Perkocept among other things) three times for a 30% profit. Just got back in ENDP on 9/20 for $19.85 and sold out today for $23.6535. Price went up today because of a change in CEO, not a new successful phase 3 trial, not introducing a new drug to start testing. Just a CEO change. This last trade had nothing to do with skill, intelligence, just pure blind luck. I'll take luck.
Will probably buy back in around $19.50 - $20. That seems to be the sweet spot recently. Don't know if it will roll back that much but will wait and see. Think today could be categorized as irrational exuberance.
Phil, not trying to be stupid but, do people actually work on their cars anymore? Before marriage did all kinds of things on cars. Now don't see much of that.