I don't know who said it but it was mentioned on CNBC today that the FED has NO timetable or schedule for interest rate hikes, and even though they may announce an increase later in the year there is no guarantee that there will be others to follow closely.
stagg, gives even more credence that friday's action was not out of the ordinary course of events on a major options expiration day. JMO of course.
Deutsche Bank upgraded Navios Maritime Partners (NYSE: NMM) from Hold to Buy with a price target of $15 (unchanged).
Analyst Amit Mehrotra said, "Last week s 17% decline in NMM shares has taken us off the sidelines and into the Buy camp. The resulting 18% distribution yield and mgmt s strategically smart move away from dry bulk toward sustainability of containerships, should support shares at current levels and justify upside from here. And we think now is a particularly good time given we are exiting the seasonally weakest period for dry bulk. As such, our upgrade to Buy from Hold is opportunistic following the sharp sell-off in shares, which we view as the baby (NMM shares) being thrown out with the bathwater (dry bulk) without regard for NMM's unique investment points."
Stagg: Friday was Triple Witching Options expiration when stocks tend to have great volatility near the end of the day. Many stocks fell drastically and some even had a nice rise (NRZ) at the end of the day on very high volume.. My unexpert opinion is that is what occurred with NMM, not the unexpected and computer generated "flash crash" that's been experienced before. but simple options movement (but what do I know).
mark, gotta give you a second "thanks" for the ARI. Interesting article on NRZ at seeking alfalfa this morning with some great analysis. Anyone holding NRZ should read this:
BULLHOCKEY Lakeed: There IS news? What makes you so sure of that? Same old, same old unproven garbage from you. Triple Witching Options expiration yesterday, plain and simple. Many stocks had very wild swings yesterday, both up an down. You know not of what you speak
Heck, the simple explanation is yesterday was Triple Witching Friday, and movements like those are all too common on triple option expiration days. Nothing else. (I'm an EXPERT on options, you know) LOL
NRZ also had a huge 1.25 million trade at the end of the day, only in that instance the stock price jumped nicely as it was in the red most of the day. Triple Witching Options at work
jk: been there, done MSB. Divvys too variable for me. Never know if you're going to skip one, get .06 or get a buck. How about a guess if there will be one paid for the month of April. LOL
kee, I just threw in the towel and pulled the trigger on NYCB at a higher price, doubled my position. RE: RIG, NOT WITH YOUR MONEY. They keep on putting out very depressing PRs.: This from S/A yesterday:
It's a rough day for offshore drilling contractors following Transocean's (RIG -7.1%) announcement last night that it will scrap four rigs and stack four more it previously had idled, taking a $300M-$325M charge.Most notably, the Deepwater Expedition, which was working for $650K/day in 2014, will be scrapped; overall, the number of rigs the company plans to scrap is now 16, with possibly more to come.RIG was awarded a $300K/day contract for one rig for work off the coast of Nigeria, and idles another rig.In cutting its stock price target to $16 from $17, RBC expects just 10%-20% of available rig days will be contracted eventually given current market conditions vs. Wall Street expectations for ~35%.
ATAX. This is from it's YE 10K. Federal tax free (so they say) based on what they invest in. Currently yielding just under 9%. They provide a K-1 but distributions are not tax deferred, they are non taxable for the most part. Long term history of dividend performance and share price stability. Not to be bought for cap gains as share price seems to have traded in a very narrow range since 1999.
"America First Multifamily Investors, L.P. was formed for the primary purpose of acquiring a portfolio of mortgage revenue bonds that are issued by state and local housing authorities to provide construction and/or permanent financing for affordable multifamily and student housing (collectively "Residential Properties") and commercial properties in their market areas. The Partnership expects and believes the interest received on these bonds is excludable from gross income for federal income tax purposes. As a result, the Partnership expects most of the income it earns is exempt from federal income taxes. "
Thoughts, especially mark?