J.....what ever happened to the CNN "Headline News" channel? I remember every 1/2 hour had 15 minutes straight of news. Just garbage now.
J-man..........I watched a lot of news reports this evening about the Ukrainian situation, some of the reports on RT channel (Dish channel 280). All the other countries out there seem to think Obama is a fool, and gutless as well. Also much criticism of the US in general for going into other countries "empire building" and then criticising Putin for making a move into The Ukraine.
Getting a much better understanding of the situation. Seems as though the people of the Eastern part of The Ukraine feel more like Russians, and those in the Western part are more "European" minded. The people of Crimea also are more sympathetic to the Russians. The Cremian peninsula juts out into the Black Sea and is an extension of the Russian leaning Eastern portion of The Ukraine.
Doesn't seem as though anyone involved there cares a pittance for the opinion of the US, Great Britain, etc.
DOW futures down about 130 points @ 8:15 eastern. Could be far different by morning though......way up or way down depends a lot on the Russian / Ukranian developments mainly.
I'm also holding some TZA along with some SPXS (shorts the S&P 500 X 3).......am also 77% in cash. Allowing for TZA and SPXS as "shorts," I'm actually about 95 - 100% net in cash. Bring it on!!!
Thanks Sarge........every day we're one day closer to the decision. I've reduced my position somewhat over the last few months. Been more careful with everything. Getting too old for the big dice rolls. Will be 62 this month. Also holding small biotech positions in AGEN, RGDX, MSTX.
Been looking into CSG, another smallish property REIT. Pays a monthly div and holds office and industrial props, mostly warehouse / distribution. Over $2 bil in assets. Just had an EPS report Feb .28, so "fresh" info available.
Wow, that was wild. Ended up making .29 per share. Could have done much better. When we got in negative territory I was looking for the market to really crack and maybe go down 100 DOW points or more........didn't happen for me this time...............ended up trading for a 40 point DOW loss.
Enjoy the weekend everyone......................Kel
Put s short on with SPXU (shorts the S&P 500 X 3) when the DOW was up 90 points. Still playing it, trying to maximize profit. Will exit before the end of the day.
Virgil Swift built this company......son Terry running it into the ground. Give it up Terry......you just don't have what it takes. Sell out. Not even much insider ownership here.
Trading now at about 4 X cash flow, not a bad ratio at all. Debt almost 3 X cash flow. Certainly not terrible, but they have to be careful.
Take a look at the Financials----Balance sheet that shows the years back to 2010. Compare the growth in debt to the growth in equity. Company is growing but debt has exploded compared to the much more moderate growth in equity.
Kel...........PS....not trying to bash, just pointing out the things I look at.
Slowly creeping up. Will likely add another $100 mil or more this year based on capex / cash flow. Not a terrible ratio of debt / cash flow, but slowly heading in that direction.
Kel...........a former holder just watching.
As I type it's 13 below zero outside here in Green Bay, WI. Furnace running almost non stop. We just set a record here with the most days in a winter season with below zero temperatures......49 days. We'll have more below zero days going into March.......so much for Global Warming.
Reserve life is an incredible 18 years. All those $$ are going to build up reserves but they have no money left to get them out of the ground. They've stretched their debt about as far as they can reasonably go. I think if they manage to execute the asset sale, some of those $$ will go to paying debt and some to getting those reserves to the surface.......that is if they are smart and capable enough to do that.
You got me interested in GPT. Regarding the possible div reinstatement. I read the Nov. 7th third 1/4 report and they mentioned in it that they expect to restart the common div in the present 1/4 (Q 1 of 2014).
Sounds interesting but more research to do. They also sold some shares in October, subsequent to the end of Q 3. Seems like they're doing a lot of transactions.
Market cap now $431 million.....cash flow about $311 million in 2013...that's 1.4 X cash flow.......i don't think I've ever see an oil stock this cheap.
Market cap $431 million.....equity is $1,033,000,000.....about $23.47 a share after ALL LIABILITIES are subtracted.
Year end reserves are 219.2 Barrels of oil equivalent....that's 18 years of production.
Yeah I know mngt has done a HORRIBLE job of getting these reserves out of the ground and selling them, but there's a lot of value here and if the present mngt can't realize that value.......PE (private equity) or another oil company will suck them up, spit out the #$%$ mngt, and liquidate this thing for a substantial profit north of $15 per share.
Good assessment ........not much different from mine.
My goal now is to salvage as much from this stock as I can over the next few months. Possible upside catalysts are LA sale and / or joint venture......iffy prospects for both though. Seems like everyone is out there trying to sell "non core" properties.
SFY down about $2.50 on earnings that the market wasn't happy with. Glad I sold about 60% of my position in the last several days. Still very cheap based on book value and cash flow. Eighteen years of reserves, but they have to come out of the ground to realize value. Several other oil / natgas producers have gotten beat up badly after recent EPS reports.
Small position I do have left is now destined for "salvage".....that is get the best price possible over the next several months.