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Linn Co, LLC Message Board

legalbark 371 posts  |  Last Activity: Jan 26, 2015 11:02 AM Member since: Jan 4, 2004
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  • Reply to

    the worst is over and time to buy

    by in4life75 Jan 26, 2015 10:34 AM
    legalbark legalbark Jan 26, 2015 11:02 AM Flag

    I agree. 5000 more at $5.70. Reacquiring the shares Schwab made me sell to keep the margin account within proper boundries. GLTA

    Sentiment: Buy

  • I know from personal experience that Schwab has been taking a more aggressive posture for margin accounts holding MLP's. I'm convinced this is an industry wide problem and we've seen stories of insiders being required to liquidate shares at very low prices. Probably banks requring liquidation of shares pledged as loan collateral. All of this hs contributed to the intense selling pressure- not just the crumbling price of oil.. Last week there seemed to be less selling pressure in many of the popular names and it even appeared that there was some buying. Let's hope we've seen the worst of the forced selling to meet margin and loan requirements and that people might begin to like 20% dividend stocks for income. GLTA

    Sentiment: Buy

  • Reply to

    Dividend Suspension

    by schieboutz Jan 22, 2015 10:44 AM
    legalbark legalbark Jan 22, 2015 5:39 PM Flag

    There will be no dividend suspension. Look at the price action. We were in the $4's. Now were comfortably in the $5's. I think it will continue at slow pace to get back above $6. Meantime, we have a really good dividend that is not going to be cut and an opportunity to sell calls against a long position for more iincome.GLTA

    Sentiment: Buy

  • Reply to

    Good News ?

    by mdh81471 Jan 15, 2015 8:33 PM
    legalbark legalbark Jan 18, 2015 12:33 PM Flag

    Harpo- As I read your email, you're suggesting that President Obama ought to enter the free market of oil and gas and do somethiing as President of the United States to "protect U.S. oil worker jobs". This sounds like Democrat thinking- not Republican "free market" thinking. You can't profit on the upside of the OPEC cartel and then complain when OPEC takes the punch bowl away. It's the free market. I suggest you just have some patience instead of blaming President Obana for something neither he nor the Republican Congress of the United States can control, This will all sort itself out in due course and I personally am buying what appear to be some great bargains at generation low prices. GLTA

    Sentiment: Buy

  • Reply to

    anyone holding

    by srbsrb27 Jan 14, 2015 12:01 PM
    legalbark legalbark Jan 18, 2015 11:06 AM Flag

    I owned some shares in the teens. Thank heavens I sold before the current tank. I still like the company and I especially like the fact that management has a lot of their own skin in the game. I believe 15% of the units are owned by insiders. The management has a good long term record and no matter how bad projections may be at the moment, I have confidence that management will do something to work out an amendment with their bankers that will still give them access to their line of credit despite the current covenant. The line might be reduced and certainly the company will be pulling back capex until things improve which will help in working out an arrangement with the bankers. I think their banks know them well and will work with the company through this tough period. I'm personally thinking of an investment around $8.50 and then sell some June 10 calls for a minimum of $1. This brings my cost down to $7.50 or below and that price we'll just see what the market brings over the next 6 months. GLTA

    Sentiment: Buy

  • Reply to

    feb 20th

    by rlbeard6734 Jan 17, 2015 6:41 PM
    legalbark legalbark Jan 18, 2015 9:18 AM Flag

    I also plan to add some more shares shortly. In addition to the borrowing base reset in April, which could be made moot by some transaction before that date, there is the possiblle dump of about 19 million shares from former QRE shareholders which isn't supposed to happen before March 19th. So we have an earning report, a possible dump of a lot of stock, and a possiible reset. When do you step in and buy? GLTA

    Sentiment: Buy

  • Reply to

    where is karen

    by mrkenusa Jan 2, 2015 12:49 PM
    legalbark legalbark Jan 12, 2015 6:11 PM Flag

    Who is Karen and who else cares?

    Sentiment: Buy

  • Reply to

    low to mid 5 good entry point....JMHO

    by slowpac Jan 12, 2015 10:01 AM
    legalbark legalbark Jan 12, 2015 6:08 PM Flag

    I think you're a bit pessimistic. I bought some more at $5.66 (I think that's the right price) and if I sell calls against it I'm pretty sure I'll come out pretty well both in terms of distributions but also capital gains. Everyone needs to lay down their bet in this casino. GLTA

    Sentiment: Buy

  • Reply to

    Small price increase by Saudi & Iraq

    by davidbdc2001 Jan 11, 2015 12:45 PM
    legalbark legalbark Jan 11, 2015 6:21 PM Flag

    You know, you have to be a little more forward looking. I don't think these oil and gas MLP's track the price of oil precisely. There is a forward looking component to all this stock pricing. You may not see it day to day but over time, there is an expectation of future prices. I've been selling calls against my long oil and gas holdings and the returns, when added to the distributions, are quite respectable. People who bought the calls I sold at a considerable premium seem to think oil and gas prices might just go up a bit this year. We also have the stories about major oil traders leasing oil tankers to buy oil now, store it for a year, and hopefully sell it a year hence at a considerable profit. There are some people looking ahead and I'm with them. Not the people looking at the day to day and in a rear mirror. GLTA

    Sentiment: Buy

  • Reply to

    How oil prices will rise.

    by truthismaybe Jan 11, 2015 11:54 AM
    legalbark legalbark Jan 11, 2015 12:10 PM Flag

    No doubt this will help the supply/demand equation. However, I'm not sure Raymond James is counting anything but U.S. and Canadian rigs. Is Russia's output, Mid-East output, and Venezuela output included in the Raymond James numbers? I suspect not and therefore while helpful info, it doesn't really take into account the really big producers in the world markets who are setting the prices. GLTA

    Sentiment: Buy

  • Reply to

    The Irony of it all

    by legalbark Jan 11, 2015 11:42 AM
    legalbark legalbark Jan 11, 2015 12:00 PM Flag

    I guess I should have added the airlines, truckers, railroads, etc. who use oil and its derivatives for their daily operations who I believe are very pleased to see the price of crude drop and the price of the product they have to buy to operate their businesses decline as well. It just adds to the irony. GLTA

    Sentiment: Buy

  • Reply to

    The Irony of it all

    by legalbark Jan 11, 2015 11:42 AM
    legalbark legalbark Jan 11, 2015 11:50 AM Flag

    Well, my good friend, I buy gas every week like everyone else. Are you suggesting that gas at the pump has not gone down over the past several months as the price of crude has dropped? I bought some gasoline this week at $2.19 a gallon that several months ago was over $3. I really don't get your point. GLTA

    Sentiment: Buy

  • legalbark by legalbark Jan 11, 2015 11:42 AM Flag

    In 1974, for those old enough to remember those days, the U.S.and the Western World were outraged that the Mid-East Oil Producers had formed an oil cartel known as OPEC to drive up the price of oil and consequently gasoline at the pump for all the connsumers. The cartel worked for decades and obnoxious profits were amassed. The Arabs were at the top of the economic peeking order. Since then, countries and private companies in the U.S. have jumped on the band wagon only to have the leader of the band, SA, decide to change the music. SA started offering huge discounts and the price of both Brent and WTI fell dramatically over the past several months. The price at the pump has improved considerably for the consumer. Still, as oil and gas investors, we are all now lambasting SA for having sabatoged the cartel and permitted prices at the pump to fall for the average consumer. From posts on most of the oil and gas message boards, everyone is rooting for SA and the other members of OPEC to get the cartel back together and raise the price of oil and consequently the price of gasoline at the pump. It's somewhat ironic when you thiink about it. GLTA

    Sentiment: Buy

  • legalbark legalbark Jan 11, 2015 11:06 AM Flag

    I say let the shorts do their best. I believe there is an anticipation factor in stock prices. Once investors believe that oil is going to go back up reasonably in 2015 I think you will find a lot of price support. You see Venezeula and Iran beating the tom tom for higher oil prices. They may not succeed tomorrow but over the course of the year their political arguments I believe will carry some weight, especially if both agree to join in cut backs in prodcution to get the cooperation of SA. You also have the billions of profits being made currently in derivatives by insiders in SA and elsewhere who know ahead of time what pricing decisions are going to be announced and profil in the financial markets with this info. I think SA has played a strong hand but at some point other factors are going to enter in to bring us back to the good old days of the OPEC cartel and its obnoxious profits. GLTA

  • I think I'm on the right message board for this kind of post. I keep reading of all the efforts, both in lives and dollars, to keep Iraq together as a functioning single country. It isn't! It was created, I believe, after WW1 by the U.S. and our European allies. What the logic is to keep all these separate people together in a single country today escapes me. Why not have a #$%$ country, a Sunni country and a Kurdish country? Would anyone else in the world really worry about it. Of course, you have to divvy up the oil revenues proportionally but it sure makes more sense than spending endless American lives and dollars on trying to keep together a country that never should have been declared a separate country after WWI. GLTA

  • Reply to

    lnco higher than line

    by hwrbrickman Jan 6, 2015 12:08 PM
    legalbark legalbark Jan 6, 2015 5:20 PM Flag

    I have always predicted that LNCO would sell at a premium to LINE. I believe the premium is due to the buyers of LNCO who are primarily institutions and IRA's that can't hold LINE without very complicated and expensive tax ramifications. Just think if you're an institutional buyer, mutual fund, hedge fund, etc., and you have a chance at the $11 level to lock in a 10%+ return that's pretty well secured for the year and have the possibility of a further upside when oil and gas prices recover. What's not to like? GLTA

    Sentiment: Buy

  • Reply to

    STRONG BUY

    by saltydog711 Jan 5, 2015 7:54 PM
    legalbark legalbark Jan 6, 2015 5:10 PM Flag

    decker- I think you're on to something that makes sense. I personally believe at $9.50 you've seen the lowest price for LNCO. Therefore, with the dividend pretty well assured for 2015, it's an attractive stock to use as a base for selling covered calls. My own preference was to bulid a position long in the stock with an average price of $ 10.60. I have sold February 2015 12 strike calls against the position for $1. I hold these in a margin account and if it keeps going it should turn into a 50% return this year. GLTA

    Sentiment: Buy

  • legalbark legalbark Jan 5, 2015 7:22 PM Flag

    Well, if you believe all that, make sure you don't have a long position in LINE or if you're aggressive, short the stock. But in any event you really have no confidence in LINE so I hope you'll move on to a message board of a stock you like and save us all the dreariness of your negative posts. I have been adding to my position over the past month and currently am well ahead with a good distribution pretty well covered. GLTA

    Sentiment: Buy

  • I recently went back into LINE and am already down a small bit. But in the bigger picture, I used to follow coal stocks waiting for that sure reversal back to the previous prices. Never happened. Same is true of iron ore prices and the stocks in that sector. No rebound. Look at interest rates. Everyone has been predicting for a least two years a rise in interest rates. Never happened. Now everyone is buying into oil and gas and expecting next year to be better once we get all this "tax selling" and "margin selling" out of the way. Maybe everyone is wrong. It could be we are in a big deflationary cycle for oil, gas, coal, iron ore and interest rates. All the stocks involved with these commodities could be in for a long period of low prices. I wouldn't be happy with this iif it occurred, but the evidence seems to be developing. GLTA

  • There is a report today that Algeria is calling on OPEC to cut back production and get the price of oil back up. I know this alone will probably not cause the Saudi's to change their current position but I think we'll see more members speaking up in the coming months as the revenue pinch becomes more pronounced. Add to this all the oil companies talking about cutting back their capital budgets in 2015 and the Saudi's projection that oil will balance out in 2015 in the $80 range may actually occur. GLTA

LNCO
10.10+0.16(+1.61%)Jan 29 4:00 PMEST

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