Broke the all time low today and it's trying to stay just above it. Hard to stay real positive, especially with crude flirting with the $30's.
I have a substantial loss and can't see SXE going up in the 30 days following a sale if I want to re-buy and bank the loss. Any body see it actually going up, especially more than the 30% taken as the short-term loss?
May not be available until Monday in a lot of brokerage accounts, but expect a pretty good up day when all those that seem to love CLMT and the great distribution use it to buy more units (or not).
Is there any value here at all? Seems like insider trades would start to take place, and doesn't look like anybody in the know is doing anything but selling. It won't be long until it is delisted.
Their loan ratio has to be corrected, and they don't have a specific way of addressing the problem. Floating more shares at this price is untenable. Per the conference call:
"Yes, I think we will expect to need to do another equity cure in the fourth quarter. I think part of that is driven by the fact that the covenant does step down to 5.5 times in the fourth quarter."
They have the shares to vote this through, unfortunately (hate to make any negative remarks about the poor job management has done as I get so many thumbs down it must stop up the thumbs recording. It feels like management monitors this site).