What an idiot and a spammer!!! They have a grand total of $6,000 in cash and the stock sells for $0.02 per share. Why don't you waste someone else's time on another board.
I have noticed that a few gold miners have cut their dividends recently. How much does the GGN dividend depend on the miners' dividends vs. covered call writing?
I just found this stock in May and bought an initial 1,000 shares at $5.83. I have followed Wilbur Ross investments for some time and have done quite well when I have bought them under (sometimes substantially under) his purchase price. I found this stock after looking at some of his recent purchases. He buys through Invesco Private Capital. I also find it interesting that GE owns the stock. Any further insight you can provide regarding the company will be most appreciated.
I intend to wait until after they price the new units. The price on these MLP's who issue new stock tends to go below the new issue price for a short time after the new issue price announcement. May or may not happen this time.
I am in the same shape that you are. I have decided to bite the bullet and sell my shares(and they are in an IRA). There is a closed end fund run by Gabelli (GGN) that I have decided to buy. Yes, it is gold and natural resource oriented which is certainly not in favor now. But it has a(rather consistent) yield of about 14% and it is at a multi-year low due to what's happened with gold. They own gold miners and oil companies and not (as I understand) physical gold. I am of the opinion that there is little upside (there hasn't been much movement since 2008 and the dividend keeps getting cut) in ADVDX and I am of the opinion that the long term return of GGN is superior. I am not trying to pump anything, just to make you aware of one possible alternative. Do your own due diligence and good luck.
If you would buy the stock at that price, why don't you sell a March $20 put? You can get$0.55 per share and will thus be in it at $19.45 if it is put to you. If it isn't put to you, you will pocket the $0.55.
I have owned this off and on for the last two years. I never worry about whether it tracks the market as intended. I sell puts and calls on it every month and have for over two years. The price of SPXU is based more on the perception rather than on the actual market movements and it makes for big premiums in the options.
For example, I currently own 3,000 shares of the ETF. For tomorrow's expiration, I have 10 call contracts(1,000 shares)with a strike price of $19(for which I received $0.33 per share); 10 call contracts with a strike price of $20(for which I received $0.28 per share); and 30 (naked) put contracts with a strike price of $11 (for which I received $0.24 per share). I have thus received about $1,300.00 in total option premiums for January.
Based upon today's price (about $11.47),the calls will expire worthless. The puts may also but, if they are put to me, I can sell a February $12 call for $0.50(thus making $1,500.00 for the option plus $1.00 per share if called). I can also sell out-of-the-money puts for additional premium income.
I have, and will continue to do this every month. Some months, the shares may be called (so I would just sell more out-of-the-money puts) and some months the shares may be put (so I would sell more out of the money calls). Net, net I am up a ton on the over the last two years. Anyone who claims one is stupid for holding this is very un-sophisticated.
Hopefully school will start soon and you can begin your 5th grade classes and leave this board to those who have something to contribute.
Thanks for your additional research. I have been adding to my position at 3.50 or below. I added about 6,000 shares in the 3.30-3.57 range.
Ross was also a big buyer of ICO which was just purchased. I had watched it in the 3-5 range but never "pulled the trigger". Today it is around 14.50.
I also noticed that he has recently bought BIOS. I lucked out and bought a couple of thousand shares at 4.53 in my IRA's on May 2. I didn't even know they were announcing earnings the next day. The earnings were great and the stock jumped to the mid-6's on May 3. I sold half of my position due to the quick run up but it has gone up a little further and is now about 6.75. It has been a lot higher in the past and I may buy more on dips.
I think it is worth watching Ross's purchases given his track record.
Thanks again for the additional information.
Since earnings were just announced, I assume there is nothing new but who knows.
I attempted to calculate Wilbur Ross's average cost in SNBC shares. According to Yahoo he owned 1,812,500 s/s prior to November, 2010 and I do not know what his cost was in those. Since that time he has purchased 18,844,907 s/s at an average cost of $3.50, according to my calculations.
Didn't I read that he has joined the board?
Thanks to Jim Mortensen, Persent and K5715 for continuing intelligent and relevant posts. I have owned Satcon for over 5 years and have ridden it up to 37 and back down to 6+. I have recently added more.
I have not visited this board for a while and have been disappointed to see some of the new idiots who are now posting. I just put Gerome on ignore and others are next.
I agree with you,Jim, that Satcon has been doing all the right things and is very close(12 mos.?) to becoming a very viable high growth (including profits)company. IMHO it's a great buying opportunity.
Thanks for your continued posts.
Vector Vest is worthless. I checked it for
another stock I own, Satcon Technology, and it rated the
stock a "sell". The stock today, two months later, has
moved from less than $8 to about $24.
Vest has more to do with technical aspects rather than
On page A14 of today's Wall Street Journal there
is an article about GM abandoning its all-electric
vehicle in favor of a hybrid fuel cell vehicle. The
current price of Satcon may be temporarily inflated by
day traders but the long term prospects are better
than they have ever been.
Remember, this is
just one of Satcon's products. It seems like every
time there is a runup in Satcon's stock, new shorts
come out of the woodwork or old ones (BGB) reappear.
The fact is that Satcon has successfully transitioned
itself from an R&D company to one which is just now
starting to manufacture product. The future is bright!
I, and I hope no one else, didn't buy Satcon
because of the public speaking ability of the CEO. Dave
has put his money where his mouth is by owning a
significant percentage of the company. The company has bitten
the bullet by cleaning up the balance sheet upon
engaging an excellent accounting firm. The company has
five to ten products, any one of which should add
significantly to top and bottom line growth. All that is needed
with this stock, IMO, is a little patience.
have been buying the stock since 1997 and presently
own over 15,000 shares after buying more this week. I
think a good testament to the sentiment of the current
owners of the stock is the fact that the stock declined
insignificantly upon the announcement of the loss.
This board seems a little dead of late! Dave said
duriing the last conference call that the company should
have significant top and bottom line growth beginning
with the June 30 quarter. If prior quarters reporting
dates are any indication, earnings should be reported
With all of the good news
contained in recent news releases, I would have thought
that the stock might have moved a little more by now.
At least five people that I have told the SATC story
to have bought recently. A friend of mine at a major
brokerage house said that there has been money flowing into
the stock for a while now. At each conference call, I
notice more questions from reps of major borkerage
With any positive earnings, I think the
stock should do well. When more shares are available to
larger investors (such as after a split), the long term
prognosis is excellent. Vector Vest rates the stock a
I bought more shares this week in the 8's. I have
been buying the stock since 1997 and now own over
14,000 shares. If you have some patience, I believe you
will be well rewarded in the long term.
This Bangladeshi-educated "doctor" and all of his
aliases are making everyone sick and wasting our time. I
now skip over any of his and his 5 or 6 aliases'
posts. Does anyone really think that a misguided
foreigner knows more than a credible group of MIT
engineers. I don't think so!!There are some very good
posters on this board (carytre, jrspanther, cabrina
dieters, etc.) who are interested in the long term growth
of SATC. Others seem more interested in the
day-to-day movement of the stock. The stock of any
developmental small cap company is going to be very volatile.
Satcon's products are just now coming to market and have
been very well accepted. Within two quarters this
stock should have significantly increased. Prior to
today, I owned 11,000 shares of the stock. I have been
buying since 1996. Today, I bought another 1,000 shares
at 8 1/16 which is higher than my average cost.
Though the stock may revisit previous lower levels
(which I think is somewhat unlikely due to the attention
is has received as evidenced by some of the
institutional questioners on the conference call), the long
term prospects for this company are tremendous.