Dow up 19. Crude up but ng down slightly.. Most coal stocks up.
NRP held yesterday's gain. Still pennies from record low. Waiting
for Wyatt Hogan, President & COO to tell us about the big time
asset sale. Will hold between $1 & $2 till that news breaks.
All negative NRP news today on the google finance board.
This morning UBS downgrades shares of BTU, ACI, CLD and CNX. Almost
comical since ACI is trading for $1 and BTU is trading for 66 cents (pre reverse
split dollars). ACI already in bankruptcy talks and BTU will follow soon.
NRP management needs to call off this "asset sale" nonsense and start buying shares
(units). If Wyatt Hogan, President & Chief Operating Officer starts to buy units, unit
price will double.
This asset sale announced by NRP was simply an effort to keep the
unit price up. Obviously every asset that NRP owns is for sale. AFTER
the sale was announced, "The Street" downgraded NRP shares(units) to
a "sell".. AFTER the asset sale was announced, the unit price has made
new all time record lows almost daily (again today) NRP unit price is within
pennies of the price of which the NYSE might delist. Obviously, I am not the
only one who thinks that there is no asset sale coming until coal, ng and or
crude prices move up.
When asked why they arn't buying units at a unit price below $1.50 they can
say, "The SEC won't let us. We have a pending asset sell".. I DO NOT BELIEVE THAT
ANY COMPANY IS CONSIDERING THE PURCHASE OF ANY NRP ASSET
AT THIS TIME.
Another new all time record low today. Recently, shares (units) open up 2 or 3
pennies and drop quickly, then close at the low of the day. No bottom in sight
till NRP makes a statement about the famous "asset sale"
Dow down, crude & ng down and ALL coal stocks down. NRP continues to crash. Now
at the low of the day and below $1.50. Payout (distribution) now above 12%. Unit price
will soon break below $1. THERE WILL NOT BE ANOTHER DISTRIBUTION PAYMENT
FROM NRP. Reverse split next move.
A NEW ALL TIME RECORD LOW CLOSE FOR NRP UNITS!
Dow continues to explode upward and most coal stocks were up.
Obviously traders do not believe that an asset sell is going to take
place. I don't either.
On another subject. Since Wyatt Hogan was appointed President
& COO of NRP he has cut distribution by almost 90% and the unit
price is down more than 90%. Time to fire Mr Hogan.
Iran has just announced that they will increase oil production
by half a million barrels per day (CNBC). Will increase world
crude inventories and cut crude prices. If they want to increase
market share they could give it away. Doesn't make sense that
the OPEC nations continue to increase production.
When NRP finds out that there is no buyer for our assets, are they required
by the SEC to let the unit holders know or can they drag this thing out till
quarter end March 2016?
Energy stocks slaughtered today. NRP closed 6 pennies above all time record
low. Going much lower.
I would be more likely to buy when insiders buy, especially Wyatt Hogan,
President & COO. He has known about ALL of the distribution cuts BEFORE
we knew. Hogan is showing me that he has little hope for a future for NRP.
Dow up 6. Crude and ng crashing. Coal stocks crashing. NRP units trading unchanged.
Crude and natural gas inventories continue to build. Wonder what happens when all of
the storage facilities are filled? CNBC analyst seen gasolene at $1.50 soon.
Dow up 65. Crude crashing. CNBC reports that crude is below $40 this morning
on the OPEC export market. Coal stocks trading up EXCEPT NRP. NRP
is down and trading 6 cents above a record low. Going much lower.