Ah, I see. I thought you were talking about gold imports to china slowing down. By most accounts, that is not happening. I think China has massively understated how much gold their central bank holds in reserve and also understates the import numbers as well as internal mining production.
KMI is nice, but I think KMR is the most undervalued. Would not surprise me in the least to see it rebound to over $80 plus the dividend (in stock).
There was another thinly veiled hit piece against Kinder Morgan today on bloomberg. Maybe that is part of it? Who knows.
Well, partially thanks to the nice earnings by SanDisk, I sold half my MU for a 9% gain. Not too shabby. Holding the other half with a loose stop loss in anticipation of MU potentially getting up to the $27 - $30 range.
I recently doubled my state in TSLF also around $18.
I think I read that the first trading day after good friday is usually a down day for the markets. Very strange though that Tuesdays over the past 12 months have accounted for like 90% of the market's gains. That seems a bit rigged to me. Moral of the story is do not initiate short positions until after Tuesdays. :-)
I very reluctantly doubled my stake in AUY today at $7,96 to bring my average buy in cost down. So now I'm sure AUY will tank even more, ha ha. AUY's partner in the Osisko deal is also tanking. So yeah, short term the market is not liking this deal. So now I'll try to be patient and see what happens. I still feel AUY is one of the best run miners.
I did double up on my AUY investment at $7.96, but that is it for me. If it keeps dropping, then so be it. I'll hold onto the shares for the long term, as I think it will only be a matter of time until gold gets back into a bullish uptrend. AUY overpaid for Osisko, but I still think they are one of the best run miners to buy.
My feeling on shipping stocks is to be wary, ha ha. I can't recall a sector that likes to punish itself as much as it does. Constant over deliveries putting pressure on spot prices, taking on too much debt, etc. GSL is a unique case with quite a long back story. It is a small cap that is tied to the French company CMA CGM for the vast majority of its charters. CMA holds over 50% ownership stake in GSL I believe. All the charters are for way over spot rate, but they are set to expire in two years. GSL stock will rise up a lot on talk of a possible dividend reinstatement, but each time so far something happens to prevent it, and then the selling ensues. I personally think buying under $4 is a decent risk/reward, but the stock is volatile because of the low float. Anytime big money moves in to acquire shares, you'll see a 30% uptick in a week. On the opposite side of the coin, there can be severe weakness in the price when somebody moves to liquidate their position as has happened this week I suspect.
I like both NM and NNA, but I think NNA is the better value right now. I liked NM when it was trading below $5. Dividend yield on NNA is over 5% compared to 2% for NM. I will say that NNA has been a complete dog since its IPO around $12. I keep thinking though that the cycle has to turn at some point to benefit NNA. Thank goodness I did not buy in at that price! I originally got in around $2.40, sold at $3.30 and now got back in around $3.60 average buy price. Navios has some very smart leadership in the industry, so I try to be patient.
True, I could do that. But I usually have the limit order set to expire over 30 days. It can get filled with say 10 different partial orders over 30 days, but I only get charged for one trade. In this case, my order got filled on the 2nd day.
Not to mention that the monday after good friday is usually a down day for the markets. Might be a good chance to load up on more MU shares then before it really shoots to the moon.
Where have you read that the Chinese are not buying gold? Seems like they are still extremely active gold buyers. India is picking up steam again also on gold imports.
I'm torn on buying more AUY at the $8 range. I think it is quite possibly a great long term move, yet...I don't know, miners have a way of always being dogs.
Only moves I've made is to sell my ARCC and buy HTGC instead. I also added to my GSL and NNA positions. Both are shipping stocks, one bulk shipping, the other oil/chemicals. I also added a bit more TSLF near $18. Other than that, just sitting on a lot of stuff.
I'm down 10% on my AUY buy, kind of disappointed in the extreme weakness in shares. Seems like any news is deemed bad news, ha ha. Might buy more at $8, but as it is I have enough shares. For the most part, buying miners always seems to blow up in my face.
I kind of disagree. I've seen time and time again that trading on earnings expectations can backfire. A company that digests a lot of bad press and/or bad news leading up to earnings and then can shoot up 5% as hopeful money comes pouring in looking for a brighter future. Vice versa, a company that is on a hot streak dealing with nothing but good news can see an unexpected mini sell off as a lot of people look to 'sell the news'. There really is no rhyme or reason to these things, so I think if one has confidence in Linn's future endeavors, it is best to hold onto one's core share holding and ride through the storm (if there is a storm). If one does not have confidence, then of course selling is indeed probably the best option. There are a lot of other investment options...just not too many that yield over 10%. :-)
Precious metals is a tough investment to be long on given how easy it is for a large party to dump however many paper contracts on the market it takes to move the price down to where they want it. Last I read, there were over a hundred paper contracts for each physical ounce of gold for example. So anymore, actual news does not seem to matter much. We live in a world with HFT algos everywhere, a world where paper prices rule the day.
I don't know if it's a 'good' stock necessarily, but GSL plummeted today by over 10% on high volume before spiking back up to *only* being down 5% ha ha. Like you said, one must be ready with limit buy orders to take advantage of these flash crashes. Wish I had my buy order ready but sadly did not. I did pick up a couple thousand shares at $3.85 though. NNA also down a good bit today and edging closer towards its 52 week low. Shipping stocks definitely out of favor at the moment.
Nice to see Ventas finally showing some bullishness again after the last bunch of listless months. I hope there is some good news on the way via acquisitions.
It's days like today that make me wish I had a standing limit buy order for GSL in the mid $3 range, LOL. By the time I saw what happened, I could only grab shares around $3.85, and even then it was like pulling teeth. I'd put in a bid for $3.85 and the ask would immediately jump to $3.87. I hate it when the market makers start playing games.
Geez, PSXP now shooting up past $56! Holy shamwow! I thought the market was in the process of running away from momentum plays. Guess that does not apply in the energy space.
I recently raised my limit buy order for MRCC to $13.10. Today it finally (partially) triggered for.....20 shares...LOL. Thanks a lot market makers! Maybe tomorrow the rest of the order will fill.
I agree with you reading_tea_leaves. The value placed on PSXP's future is incredible. I would be tempted to sell here except the tax hit for short term capital gains would be very painful. Since I expect to grow old with this MLP, best I just remain long and keep proper perspective on the highs and lows as they come. I would have a hard time justifying buying more units above $45 though, let alone $55.
HTGC is slowly but surely starting to get back into my 'buy' range again. I agree that FSC below $9.40 is a decent value buy. I bought some also.