In @ 8.38....sick of watching........looked at the CEFs that hold MLPs, but don't want to deal with their forced reductions of leverage. A double whammy to the downside.
As long as they were going to destroy the price of the stock, why didn't they just sell 100 million shares and raise $20 million. Wouldn't been much worse for the stock. Didn't they do that one other time......I mean double the cap in one fell swoop?
Insane........talk about a bad trade off.
Papajohn has 1.6 million shares as of Nov. 12 report date. That's a pretty health stake. Looks like other mngt and directors mostly under 15,000 shares.
Get 2 shares of SDOC for 1 share of Swift. Sandridge had over $700 million (over $1 per share) of cash on Jan. 25th after pulling down a $500 mil credit line from the Royal Bank of Canada. Small amount of debt.....about $4 billion....(:^)...
Holding some SDOC @ 3.5 cents cost..............Kel
That's why Sandy is @ 3 cents. Taiwan is going to file a $ Trillion lawsuit against them for damages - structural and human.
There will be a day when the time is correct. Perhaps as energy, metal, and farm goods prices bump along the bottom for months on end (now?) .......may be the time to move into TIP or VTIP. At worst they might be dead money for awhile. I'll keep watching too.
Sold my position @ 9.75 due to some of the concerns you voiced about CS. Looked into it a little bit and was surprised by the extent of their problems. Well probably not fatal, I'm not sure if or how those problems could ever affect this type of derivative security. Decided to take the safer road and sell.
With current losses piling up in my other holdings, I can't afford to have something strange hit me from the 'blind side.'
Good luck to you..................Kel
Royal Bank of Canada gave Sandridge (SDOC now) $500 million near the end of January when the stock was around 5 cents. They now have about $700 mil of cash. Bought some on Friday @ 3.5 cents.........
Retain your good sense of humor........Holding SDOC, perhaps better than CHK right now @ 3 cents....Kel
CHK down almost 40% today....now has a $1 handle. Not a holder..........Kel