Perhaps Leon Cooperman had a personal heart to heart with Jon Cohen and decided he has seen the light and is now buying back into a position for Omega Advisors? :-)
RSO was already halfway to the $16 goal just today. :-) Sucks, I was hoping to buy a lot more in a market crash, had my limit orders all set up to buy down to $2.30 (or $9.20 now).
This smells like a big fish acquiring a position and willing to drive up the price a ccertain amount to get it this week. They likely see RSO as undervalued even trading at $14. Apparently, they are willing to buy up to $14.50
While I'm still bearish on TAXI long term, I think buying under $7 could for sure be a decent move short to medium term. TAXI has the means to keep current dividend going through 2016 I believe, and yielding over 14% is a decent bet to buy and hold for now during this market turbulence.
I got limit orders in place to buy AMGN at $135 and GILD at $95, hopefully they will both hit. I'm also looking to follow Buffett into PSX, put in an order for $71.
Ironically, it would not surprise me if a lot of people logged into their brokerage accounts today to find RSO trading over $12, say to themselves my prayers have been answered, and hit the sell button....not realizing they only held 1/4 the shares that they did last week.
Agree with you bonzo, reverse share split is just noise. What's important is keeping track of AFFO over the next few quarters to see if it can stabalize and loan losses.
Interesting that the other major Suezmax player (NAT) ended the day up strong. I think it is the dividend plus the letter from the CEO indicating Q3 will be about the same as Q2 that are keeping investors satisfied there. TNK could use some good news from TK perhaps to get share price moving in the right direction. Rates for Suezmax appear to be strong, especially so considering we are approaching the end of Summer months doldrums.
I don't think FRO cares too much about BDI. It needs to see continued strong spot rates for VLCC, Suezmax, Aframax. A bonus would be to see continued strong rates for product container space as well
I also get the impression that spot rates for larger tonnage vessels like VLCC and Suezmax have bottomed. May be an early sign granted, but at some point in September will be a really solid entry point for stocks like FRO, EURN, NAT, TNK
That is one of Yahoo's best tricks. One morning they will all of a sudden release a revamp of a sub-site (like finance) that just is so much worse than before. Usually they give a way to go back to the 'classic' version, but sometimes it can be tricky to find.
I'm becoming more convinced that AUY is caught up in some kind of pairs trade by some big money, where one stock in a sector is bought while another is shorted. Like maybe buy GG and short AUY in equal amounts. Or something like that at least.
I agree, although the crazy FOREX moves happening *could* cause some issues for large US multinationals that do a lot of sales around the world. Hopefully GILD will not be dinged too hard with the Japan sales and EU sales. Also, there are cases (like Greece) where government really does not have the money to pay for medications or basic supplies. From what I read, they were relying on the good grace of outside companies to keep the supplies coming even though they stopped paying months ago.
Really, we should be rooting for biotech to absolutely crash. Sure, that will cause GILD to plummet short term as huge money will leave all of the biotech ETFs which includes GILD. But, this will give GILD the great opportunity to make a few M&A deals at a NICE discount to the absurd multiples other companies were doing a few months ago. They will regret that, even though their shares saw short term buy momentum on the news. GILD takes the longer term view, and I will bet my last dollar that should everything plunge, GILD will come out of the chaos smelling like a rose and will be the first to snap back in a HUGE way, making new highs before everybody even knew what happened.
Where do you buy from? Local dealer? Premiums for silver in many denominations is crazy right now, between 20 - 40% at a lot of online merchants. Not to mention it can take weeks (months?) for delivery as supplies are tight. APMEX is a good one to use, but they are also the most expensive.
This is the wonderful thing about computer algos. Fed can set 'em up to sell while they are enjoying the front 9 at an exclusive gold resort. No worries, no hassle, they know it will work.
I agree with you flyboy, and it is my #1 reason why owning physical in hand will likely turn out to be a much better move than investing in a paper gold fund (GLD) or even a miner (as mines will likely be nationalized when SHTF eventually). Just buy up physical, find the nearest body of water and have a 'boating accident'. I do own a bit of AUY as a lark in case I'm wrong about the miners, although I think owning a better capitalized one like AEM or GG would be better.