Sept. 30 numbers. Plans to buy something. Hope it's something that is already holding approved products and producing revenues and profits. We need the diversification. A good purchase would likely drive GILD up 10% immediately.
My last trade in AEZS was at the end of October and it was for a small gain. Been steering clear of that dilutive mess...........Kel
Some of these MLP-CEFs will have to reduce leverage levels at a time when NAVs have fallen 50% for many of them. That means possible forced sales at times that may not be the most desirable.
Have already seen some like KMF reduce their leverage $ amount significantly to rebalance their ratios. This could lead to reduced distributions.
Same thing happened to many CEFs (particularly junk bond) in the 2008-09 time frame.
I used to hold several MLP-CEFs (FEI, FPL, KMF, NML, and CEN)....now I have none.
Bigger draw than estimates. I think the driller cuts in CAPEX since the beginning of 2015 are starting to take hold. The last 2 reports surprised everyone when the draws came in above forecasted levels.........Just my opinion.
Bec.........congrats....you called this right long ago. I was negative as well, but you were the major voice that all should have listened to. It was so obvious.
MRO will survive. Cutting the div was a smart move. Bite the bullet and boost that cash flow and keep the CAPEX respectable.
Where are you? Up in the NW corner? Only singles digits below here in Green Bay. Warmer tonight and Thurs. - Fri. Sunday high about 5 F. At least snow has been OK except for that big (13 ") storm.
Kel..............holding SWN, MEMP, and MRO.....all recent buys
Natgas up about 1%. Oil down. DJIA down 300+ points. Something going on? SWN would be a great buy for any one of the majors like XOM, CVX, etc.
Of course they will cut or eliminate the dist. A cut to 5 cents per quarter would make sense IMHO, just to bolster cash flow. They could pay the 30 cent rate, but that would be foolish.
Excellent and insightful comments. Never got involved in the tanker / shipping area. Found enough pain in the oil / natgas drillers. Yes, when the sentiment turns it can turn quickly. Maybe we all need to sell (as traders) when the 50 day moving average is violated or it turns down. Have thought often about that, but never seem to practice it. I'm a habitual bargain hunter I guess.
Eliminate dist or cut to a nominal amount (perhaps 5 cents quarterly). If MRO (Marathon) can do it, MEMP can certainly do it too.
Kel..................looking to buy again, now @ 1.95
Craig Hodges was recommending it this morning on CNBC. Says the company states they won't cut the dist and is in a good cash flow position. Really likes it. Just passing this on....
More so natgas than oil. The last few days have been rough for natgas too. Otherwise, it has recovered quite a lot from its 1.70 low up to about 2.50 before the last 2 days tumble.