Gartman was talking down oil on the 16th so he was short, and was talking up oil on the 19th so he had gone long.
"Humm, let me think", 1/2 second pause, "The diamond you idiot, oh and you might want to call for take out cause I'm busy tonight." Most of them have been dreaming their whole lives about the ring, they know exactly what they think it should look like and I will guarantee you their dreams did not include a CZ and a check. I'm guessing your single.
I can see it now, " OH my god it's gorgeous whuncensored, yes, yes I will marry you" his love of his life says. "I'm glad you love it, it's a Cubic Ziconia, very practical and a far better choice than an unimpressive costly little diamond." " A what???!!!" she responds as she drops it in his glass of Ripple and walks out.
Whoever the Saudi's are trying to punish I have the sense that there has not yet been enough pain to suit them, Russia has no plans to pull out of Ukraine, no country has defaulted nor fracking company declare BK. More pain to come, I unfortunately still have one long position left in oil but threw in the towel figuring the worse it could do at this point is go to 0. Hope to go long RSX once everyone has finished puking it up.
mrcapital, it is just as likely we are watching a ball (oil) that was dropped down a set of steps, it bounces on it's way to the bottom. Don't get me wrong I am long and probably took as bad a hit as most here. I agree with bondo that the Saudi's targeted fracking and Russia, the other is getting the rest of OPEC to understand that they need to honor their quotas tohave the power to remain relevant.
You might want to check Reagan's record on this immigration subject by your description he would be categorized as a socialist as well, he did sign the immigration act of 1986 into law which actually legalized a similar number of illegal individuals.
drstone6, The real question is how did Obama even mange to get two terms, it was almost impossible for the Republicans to lose that election but still their leaders found a way, so who is the real loser?
If its the diamonds you like check out DDC, guess who they sell to. I just brought up a chart comparing the two and they have been running pretty close. DDC use to be Harry Winston till they sold off their jewelry business, now they just mine and sell diamonds.
Hopefully they get this to a conclusion before there is nothing left for anyone to fight over, they lost another significant customer; "The Proposed Projections contained certain assumptions for Exide's Transportation Americas business unit that included an ongoing relationship with one of the division's largest customers by volume. On November 18, 2014, Exide was informed by this customer that it would transition its relationship to a new third party vendor over the next several months. Thus, the assumptions underlying the Proposed Projections as they relate to Exide's relationship with this customer are no longer valid." Wonder who it was and who is going to get the business.
golden, I know little more than you do but my understanding is that the 8.625% bond holders would end up with 15% of the company, the unsecured creditors with 5% and the convertible rights with 80%. The impression I got was that the 8.625% seniors would have the opportunity to purchase convertible rights which would then give them a proportional share in the company. Of course that means you are adding money to your previous investment but if you don't I was left with the impression that you would be getting screwed. If you don't buy the rights offered the UNC which is a majority group of Senior bond holders who are backing the reorganization will be back stopping the rights offer against money they have already loaned to the reorganization and will take what ever rights are not exercised. I looked into this a few weeks back and don't have any notes in front of me but I thought I came up with the bonds without exercising the rights worth 17 to 18 cents on the dollar and more if you plan to. I plan on reading the Plan of Reorganization again and suggest you do as well. If you want to play this game I think we follow the guys with the money and buy the rights offering same as them though they will also have debt which will be senior to any shares you pick up so they may be in a better position than us in the end. Again my understanding of this situation may be just a little better than yours.
I found in my very limited exposure to BK Bonds that if you want a chance to get an answer on a board like this from the guys who know what is going on you need to show that you have done your homework and are actually trying to figure it out on your own. When I bought Seniors in CIT after they went under there were guys with unbelievable insight on the Yahoo message board but they would only answer if your questions were intelligent, obviously with the size of xideq there is a far less chance of getting a response.
In regards to Iraq; Bush, Cheney and Rumsfeld own that one, they lied to get there and then questioned anyone's patriotism if they opposed the effort. They cost us a lot of brave and patriotic souls and in the end what for?
No it's 100%, the senior bonds are getting somewhere around 19 cents on the dollar so there is no way the common will get anything, wish the common shares were getting something cause then I would be getting face value for my bonds. Oh well.
So garywright253 what did you come away with from the article in regards to DDC? We are waiting!
"The results met Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was also for a loss of 7 cents per share."
"The provider of offshore drilling services to oil and gas operators posted revenue of $221.9 million in the period, exceeding Street forecasts. Analysts expected $211.9 million, according to Zacks."
Didn't mean to repeat, I can be slow at times. Was checking some things out before I posted.
"On an after-tax basis, these items approximated a net charge of $77.8 million, or $0.48 per diluted share."
So without the charges we would have had a .07 loss or 2 cent miss (.55- .48). They beat on revenue, $221.9 verses an analyst estimate of 217.89.