Nice snag keltus. Even after seeing the SPO announced yesterday, I forgot to put in a lowball limit order of my own for today. So, no extra shares for me. I might try to snag some around $9.70 tomorrow, see if it hits.
Market does seem overly worried with spot price of oil down 2.3% to right around $100.
I think the refiners had a good day today because they are oversold, plus several analysts have come out with buy ratings. Not to mention positive press in several publications attesting to their oversold status.
So you're saying it was a bad move on my part to buy FSC below $9.30 and reap monthly dividends plus price appreciation just because of an upcoming SPO in the future? Hmm...okay.
Why do you obsess so much over day to day price swings? LINE/LNCO are not stocks to get rich off of capital gains. Just good income producers one can rely on to complement a growth portfolio that will (should?) generate handsome capital gains in the future. The only time I get worried is when I sniff out a distribution cut and/or a bear attack followed by an informal SEC inquiry starts messing with a very expensive acquisition.
Thanks for the mention. I'm still #$%$ at Barrons for colluding with Hedgeye to try to bring down various MLPs like LINE, VNR, KMP, ATLS. Yet like Cramer, they continue to have a steady influence on stocks, either positive or negative.
I disagree in a way. Again, the timing of events is suspicious, but at least they were true to their word that they would not issue more shares below NAV, right? Price is not announced yet, but doubt that would break that promise. Most everybody here suspected an upcoming SPO, just maybe wait a bit more till the share price was closer to $10.50. Guess the execs did not want to wait. I know BDC Buzz had FSC on his list for an imminent share offering.
You can see for yourself, as they just announced the SPO after hours today. FSC after hours is down 2.87% to $9.84. Trading tomorrow will likely be high volume and probably a bit volatile. Nobody known what the added shares will be priced at yet. Almost a certainty though that they will be priced above NAV since management said that was key. I would say maybe $9.9?
It's not just AUY but the whole mining sector that got seriously dumped the last hour of trading. A huge move amongst them all.
The one green MLP for me is/was PSXP. Except I sold it on Monday, heh, so it doesn't count. Course, it was down 5% on Tuesday.
I don't know, I'm up 10,000% on my Cynk Technology shares this year,
Just kidding by the way, LOL. One has to love these OTC sham pump and dump companies.
I always thought the upstream MLPs reported a lot more UBTI than the others mr.phil2u. I'll have to go to my last year's K1 for LINE and VNR to check again.
Not sure who down arrowed you (yahoo stalker most likely), but I agree with you. Every upstream I follow is down today. MEMP obviously leading the pack thanks to the unit offering.
I believe TheStreet is just a computer algorithm (like Zacks) that randomly picks out stocks and gives a generic rating followed by a generic reason for the rating. Just generic all around, and something one can safely ignore.
Okay, thanks everybody for the responses!! I appreciate them all. I'm no longer employed with a W4 so that is out. Sounds like filling out the 3rd quarter ES forms for fed/state is the way to go. I'll aim to overpay just a tad so that there should be no way I get penalized again.
Now I just need to find my next 2 or 3 bagger to do the same thing with so I can continue to shower the IRS with money. Maybe this time I'll do it the right way and buy it inside my IRA instead, LOL. Beggars can't be choosers though...