Just looking at refinery charts and at some point I will sell some deep OTM TSO Put that will give a nice premium and possible shares at/near/below 52wk low. No rush,if I miss the boat ? Oh well ! But of course if I end up in the hole ,I will blame others and not take responsibility for my decisions like these stupid trolls :)
Patrick,If memory serves you said the same of YRCW. Linn energys future depends on them acquiring financing, not a sure thing. If they announce a RS I might wager the wife's beer money on a drop and pop.
LNCO will dip to 2-3 cents and pop to 4-12 cents just before a restructuring RS, or at least that's what my Tea leaves say and my Ouija board confirms it :)
Bigbear, not trying to sell you my inventory:) but I think XLE is a good play for someone who wants to gain on oil recovery and does not consider himself a oil picker experts. XLE consists of a basket of about 40 large oil companies including refineries , up ,mid and down stream.
Bigbear, for myself I sold all REIT,BDC, funds and the RSO-B. Currently holding XLE, MMP, TZA,GLD,VRX,ENDP ,RSO-C and 65% cash. I consider it defensive.
Ryan , Not as simple as your explanation . There will be a restructuring Debt for equity swap and a Reverse Split that will keep it listed. It will bottom before the RS at 2-3 cents and then rise 4-10 cents shortly after, giving a good chance for a trading gain. It might end up better than YRCW if you are old enough to remember. I want bet against them long term.
Yes they do when you understand Pacmans posts are not necessarily his trades but are designed to further his trades.
I was referring to a squat optional tree:) Or just as good try to hold It until fording a deep River ,ah ! A natural cleansing :)
I wonder if FSC will hire a battery of expensive lawyers to argue the investors interests ?:) It serves investors right for daring to question there godhead leadership. I have no plans what do ever to invest in a BDC/REIT for anything more than a day trade.
Ockiote, It seems of. late "many" Americans are torn up on a daily basis about bathroom choice. Our founding fathers simply walk into the woods and #$%$ on a unisex tree , that's good enough for me.
I was too busy to look at a computer today but I did add a little XLE In PM. Not sure I want to get involved with upstream MLP at this time , it remains to be seem if they can get needed financing to operate. Refineries thrive on low crude prices and high demand thus rising crude prices might put addition pressure on profit for a undetermined period. So I confine my self to two Mid stream MLP EPD and MMP as well as XLE a oil majors ETF. I do recommend that anyone interested take a look at XLE and see if it suites there needs.
Other oil stocks i find interesting but not ready to jump on are CVRR,TSO,SLB and NDP. NDP is one that Slicktop mentioned it's a strict upstream MLP Closed End Fund with a 100% ROC Distribution. It's very dangerous but will be a big winner at some point as oil recovers. I have a low ball order out for when it ever tanks.
There are more than a few that expect a interest rate increase in June with the May announcement setting the stage. But one quess is as good as another. IMO the best course of action is to not stick your neck out either way. After all it is May a time in which some pull back a bit. I,m only long in stocks that I,m comfortable living with for a extended period of time and holding heavy cash. All BDC,REIT and CEF are gone, holding oil,gold and Pharma and looking forward to a pleasant Summer . Remember those chickens most likely to be slaughtered are those who stick there necks out.
Most upstream MLP have cut or cancelled there Distribution and for the most part only Mid Stream MLP are earning enough to cover the payment. Most but not all MLP CEF have a ROC component in there Distribution.Check Slicks post history for a list of his MLP CEF s and the discussion of the various funds. Personally I,m avoiding MLP except for two Midstreams MMP and EPD. I also own a oil majors ETF XLE which holds 40 major oil companies .