Certainly made a nice recovery from its low for the day. Could have just fallen apart and dropped to the low 3.80s, but it recovered instead. Shows there's some interesr out there.
Kel..........a PATIENT holder
I always wondered about that SEC investigation. Weren't they investigating non GAAP earnings? I could see looking at GAAP earnings (for any company), but non GAAP can be anything you want to throw out there.
Now days, many company's non GAAP earnings are accepted as the numbers that are out there for earnings estimates. These accepted non GAAP earnings usually add back in what is written off for "acquisition related goodwill"........which is a non cash charge to GAAP earnings that is basically a write off like depreciation.
It's why you often see Yahoo listing an earnings number that is somewhat smaller than the number you see under Yahoo earnings estimates.
A few companies that do this are ABT, CELG, EMC, TEVA,.........but there are many more.
The DJIA is down .13% and SDOW is down .19%. By my calculation this causes the price of SDOW to be 18 cents below where it should be. Guess I'll stick with SPXS and SPXU to short the S&P 500. TZA is a good one to short the Russell....all are ultras (3 X).
I've traded SFY 7 times since Oct. 1st. Have had 6 gainers and one loss, which was under $10. Have also traded HK and NOG quite a few times.
Sold both HK and SFY on Monday for small profits.
Now back into SFY @ 11.88 with a position twice the size of my previous one. Something going on there behind the scenes (I think so anyway). Trading way below its $24.36 net book value, at 2 X cash flow, and growing production in the Eagleford area. Good recent basing price action.
Just my opinion.............Kel
Numbers from the last 1/4 ly report. Net assets after ALL liabilities subtracted. Equity of $1.072 billion divided by about 44 million shares = $24.36 per share.
I'll admit that I've been mostly a trader of SFY for the last several months. Now I'm actually afraid of not being in this stock. I have a strong feeling that something is going on here that isn't public yet. I guess we'll see if the fullness of time.
Back in at 11.88 with a position twice what I traded on my last trip here. Strong recent basing action in the 11.50 - 12.00 area. Could be news at anytime on the asset sale. With an under $600 million market cap SFY would be an ideal buyout candidate.
I play that game sometimes too. I think you have to sell more like 3 - 7 days before the x-date, otherwise just sit and collect the div. PER is a bad one though. The dist is like a trap. Traps you in and you get burned as it always seems to fall more than the dist amount. I've traded PER numerous times but never stick around for the x-date.
Just sold the last of my FSC shares at 9.66+. Paid 9.26 for those shares and got 1 div.
Also bought some SDOW today.....ETF that shorts the DJIA X 3..
Turning into a frustrated bear. Holding some SPXS, TZA, and SDOW now. All are 3 X short ETFs on indexes. Positions not large enough to materially hurt me, but they are all under water with the DJIA now up another almost 200 points. Also am about 70% in cash.
Hey....Bob's not old. I was born the same day as him.....March 22, 1952. I still feel like a young buck...(:-)
I'm about as anti Obama as anyone can be. Guess what, I signed up for O-care and am saving about $320 a month this year. Getting a $435 subsidy monthly for a plan better than the one I had with Humana for 6+ years (which was rising about 20% a year in cost).
Of course we don't know how the treatment will be if / when I need to utilize the insurance. Only 3 years to go until Medicare (age 62 next month) and I've put investment strategies in place to defer and limit my income the next 3 years so I can keep getting that big subsidy.
Now have my regular accounts set up to get a moderate amount of dividends, some growth, but no chance of capital gains that I'd have to "cash in." All the aggressive investing will be done in my iRA account where the $$ can just sit for the next 3 years.
******I already apologized to my Grandchildren as they are going to be SCREWED.
NAV took quite a beating today. CEN holds an about 5% position in BWP (Boardwalk) which was down about 40% as it cut its quarterly from .53 to .10.
I've been watching CEN as I already hold NML and FEI, other monthly payers. NML also has an approx 5% position in BWP so I felt some pain too. FEI doesn't hold any BWP.
Sure is a nice way though to invest in MLPs and get paid every month. Just hope the BWP fiasco doesn't turn into a trend.
jp.......I'm sitting here with 67% in cash and a few short ETFs for a downside hedge. Am holding two oil drillers....SFY and HK. Neither one of them can get untracked today. Just moving around a few cents here and there. If I can get out of them I'll be net short a little bit due to my hedged position. I'm very concerned about the market here.
Today may just be a sort of 'transition' day between the rally and the downfall.
Was looking at it. Hard to find EPS news from last report, had to go to SEC filings. Lots of unrealized depreciation. Look at the balance sheet where it lists their investments and types. Some big differences in cost basis vs current carrying value.
According to current EPS estimates it looks like they have a good chance of earning their current .25 quarterly. That's good and a nice yield. Scares me a little though.
They are Closed End Funds (CEFs) that hold MLPs and pay monthly or quarterly distributions. Usually yield in the area of 5 - 7% and in many cases the dist is treated as ROC (return of capital). This can be nice in a non-IRA account to get current income but have the tax liability postponed to the future.
Some that are down over 1% today....
I hold some NML and their 12-31-13 report shows a 5% position in BWP. Adjusted for leverage, etc., this fall of BWP knocks down their NAV (net asset value) by about .60 - .70, or about 3-4%.