Years back I owned CHTR (Charter Communications.) It was going through a growth period just like FTR. When she announced a reverse stock split I dumped it. MISTAKE. Today she is worth 182.00 a share. 800x more than my original purchase price. Is there a lesson to be learned?
Did not waste time. After announcement of cut yesterday put in sell on all NCZ with exception to shares in my IRA. Looking at 5yr chrt. the price is all downhill but divy was safe til now.
Just went through my portfolio. Thank god I invested in DRIPs years ago. Despite short term lose they all keep paying. SDRL is the only one that no longer pays. I prefer monthly dividends. Do your homework like I did. It pays off.
YOU HIT THE NAIL ON THE HEAD. If you read my earlier post on OPEC Saudi Arabia saw the threat of Fracking years back and started formulating a plan that would swamp the world with oil, bring down prices, limiting income from fracking and at some point the #s will come out that the world is short oil. If you lived through the 70s you know where I'm going.
There are two pages of institutions that have dumped all shares and over 15 pages of institutions still holding.
Institutional Ownership 32.71%
Total Shares Outstanding (millions) 493
Total Value of Holdings (millions) $1,256
Increased Positions 130 18,219,973
Decreased Positions 145 18,252,860
Held Positions 47 124,700,748
Total Institutional Shares 322 161,173,581
New and Sold Out Positions
New Positions 36 2,923,918
Sold Out Positions 47 4,700,445
Read official documents and Saudi had this all planed out years ago. They can sit it out along with SELECT OPEC members. Who gives a damn about other countries.
I have been reading on this board and others that oil will go up because Saudi and other OPEC countries can not afford the loss. This fall in oil prices was planed and triggered by Saudi Arabia years back. And as for the loss, the Saudi's and other select OPEC members have built individual accounts in the billions to support their countries through this. NO BS this is official. As for Sea Drill....
Hold off. NCZ has an RSI of 45. Mutual funds love to play with NCZ. I added her to 2 of my portfolios. One reinvest the divy and the other rolls the divy into my MM account.
I picked up PGH in 2013 because of the price and divy at that time. I sold PGH 3 months later for a small profit as soon as I heard talk about a cut on line in the dividend. Glad I got out.
I take it you have never been through a reverse stock split. BS on "It's a wash."The stock price will drop, in many cases a large percentage and it can take years to recover.
A reverse stock split! Do you know what this means? For every 4 shares you own you now have only 1! If you want to buy wait until date of reverse split has passed. Just trying to save you some money.
Years, and I mean years ago, I held TNK and DHT when oil shipping stocks were hot. I dumped DHT when the dumped their divy at that time and if memory serves me correctly did a reverse stock split. I still hold TNK and I see a divy increase down the line.
Years ago I owned CHTR (Charter Communications). When she announced a reverse stock split I dumped it. Today I am out a 200% increase. SDRL is in a similar sinking boat. I lived through the oil scare in the 70s. It will happen again.
The US was #1. As history shows no country stays #1. Under Obama we have slipped too #2 and under this new deal with IRAN soon #3. Oil is an international commodity. It won't take much going wrong in the mid east to shoot up futures. I myself have been selling and buying back calls on my oil holdings to keep cash flowing.
We have a presidential election in 2016. Market wants to make it's money now! First year of a new President usually bad news for market.