About 10% below last closing NAV and most MLPs up today 1 - 4%. KMF was down 2.75% when I bought it. Something very wrong as many other MLP type CEFs also had bad day. Will see if things straighten out on Tuesday.
Kel......also hold FEI and FPL
Down about 2.75% on the day. It's a CEF that holds MLPs. MLPs up today pretty much across the board, many 2 - 4%. The CEFs that hold them though were generally very weak. KMF is about 10% below Friday's closing NAV of 27.87. Should be even further under NAV when today's numbers update (NAV symbol XKMFX).
Kel....................ps......didn't buy and OKS, it ran away from me.
Looks like some others had the same idea as I did today, except I'm still "watching." Was looking at OKE and decided to pursue OKS as a higher yielding alternative. OKE pretty beaten down to.
Am holding DUK and SO in the utility group. Recent buys.
Yield of 10% +.........goes x-div on July 30 for 79 cents. Having a tough year as are many natgas pipeline MLPs. Good that they didn't cut this 1/4, which is probably the bottom of the annual cycle, if not the overall downturn.
I did really well with OKS when MPs were booming 4-5 years ago. Just watching so far as it's up today.
FU27.........I've traded CHK numerous different times this year, mostly for profits. The 15.00 + shares were sold long ago as I no longer hold any with that cost basis. Has it been a poor place to be lately.........YES.
Why does XLE have 28% mix in XOM and CVX combined? Not the greatest diversification.
Can see why you'd make the move for option writing efficiency. With XLE bumping on 52 week lows and about 30% below the 52 week high.........what would you write? Maybe close 65 calls and further out 70s calls? Just curious. I've gotten beat up with CVX and CHK the last few weeks.
Came out about 1 hour before the close. Surprised it didn't tank even worse than it already has. Maybe, all the news is out and it can't get much worse barring total Bankruptcy.
They did mention Terry's (he gets full credit here) almost TOTAL lack of hedges going into the dive in oil / natgas prices. Lay this right in Terry's alp, right where it belongs.
He has managed to destroy what his ancestors spent decades building from the ground up. FOOL!!!!
Lost 5.4% largely due to CHK's fall of $2.50+. Also other energy and silver holdings.
To put things in perspective.........also attended the funeral of a high school friend that died after a 3 year battle with lung cancer at age 62. Maybe losing a little money isn't that bad after all............
Exactly what I was thinking. Rigs drill new wells, have nothing to do with existing, "pumping" wells. Literally could have a ZERO rig count and still have record production. Of course, production a few years forward would be terrible due to decline rates.
Kel.............holding ARP (cost 5.68 just a few weeks ago, small position)
Let's make a list of those that would go BK before CHK.............a very long list indeed.
...........AND MANY MANY OTHERS...
CHK has better control of their situation than numerous other drillers.
Kel..........a holder of CHK
But the Saudis hate digging into their reserves. To them that is like eating themself. First, eat a finger, then a hand, and finally their arm. With worldwide low interest rates and stumbling stock markets, where could they turn to?
Any amount of their reserves that are consumed (like a Return of Capital) is that much less available to produce future income. Same as it works for us investors when we make a bad investment decision.
I bought some SWN on Monday just before the close @ $19.82. It did well yesterday( Tues.) but I also hold CHK, which has been getting slaughtered.
I agree. I had already given up on the div as they were WAY past any normal div declaration date. News to me is a non event. Smart cash conserving move.
Question..........are any PIK loans made initially on that basis or do they evolve to that basis when negatives arise for the borrower?