i've sold off all oil stocks a couple months ago (COP). i closed BP position about 4 months ago and am very happy with both moves. BP down 22% since then and COP down 12%. i follow closed positions as well as current positions.
glut of oil, consumption dropping, energy alternatives, all negative forces on oil stocks. also, BP getting hammered in New Orleans over the spill and they continue to lose court battle after court battle with fines and legal costs in the billions.
rather, i took that capital in put it into NSH. they have huge oil storage facilities and terminals where the oil boys have to put all their unused inventories. yield is over 5%.
just a thought for you. i am up over 9% capital gain on NSH.
i don't and closed this position. excluding dividends, suffered 2.3% capital loss. poor earnings report - AGAIN. see business conditions for CHL to remain challenging and don't have confidence they can resolve those issues as they can't control them. this is a poor investment.
reported disappointing financial results for the third quarter of 2014. Both total revenue and net earnings declined year over year. Net profit dropped for the fifth successive quarter.
Sentiment: Strong Sell
i proved my point, you just didn't understand.
you do need to watch your mouth and try to temper that anger thing you have.
am putting you on the ole ignore list. you've simply nothing worthwhile to offer. no one the boards believes a thing you say.
i closed my SIX position at $39.71 PPS. a total capital gain of 17.21%. was a small position for me and no sense being greedy. i generally sell off if a position gains or loses 15%. just a general rule but it works for me. helps me to keep turning my money.
too bad i didn't have a larger presence here but can't complain on a such a short term investment, small or not. didn't receive a dime in dividends before exiting.
i believe so but am wondering if last surge to PPS is becoming topped out. am still retaining an MO position due to good yield but may close my position at $50 PPS. currently realizing a 13.4% capital gain and usually take the money and run at 15% gain. isn't always the prudent thing to do but i also exit at -15% capital loss. by and large, that "rough" strategy has worked well for me and i have good turns on investment capital.
warnbeeb, i too would be worried had i continued to hold COP. had i not closed my BP position i would have lost 20.4% as of today's close. while COP hasn't been hurt as much as BP, i would have lost 10.44% there.
were i still holding both, i would be selling COP but continue to hold BP. not only is BP yield greater, IMO, i believe all future bad news (other than continued oil glut and lower crude prices) is baked into current BP PPS. BP has also proven to be incredibly shareholder friendly as evidenced by increases to dividend and buyback program.
i agree with your assessment of refining business for both.
what i did after selling BP, and then later COP, was to put proceeds into oil storage to capitalize on the glut. i went with NSH and have realized an 8.6% current capital gains while realizing a 5.5% yield on dividends of $2.18 per share.
IMO, dump COP. if you want to retain a position in oil stocks, BP is the Buy. sooner or later, depending on New Orleans and oil consumption, i will be back into BP.
wow. Nasdaq up 2.4% and DJI up 1.31% today and UBFO down 3.51%. UBFO down over 5% since i closed my position. to top that off, no dividends, zero yield in that time frame.
To all holders and potential UBFO buyers.......... Beware of small float. as you sell, the bottom drops out of the PPS due to so few outstanding shares. when you space out your sells in attempting to avoid the drop, you incur extra transaction costs.
this was a very poor position for me and i simply owe it to others to say so.
Sentiment: Strong Sell
i had been congratulating myself on closing my HNI position a few months back and reinvesting proceeds in other stocks. can't do that anymore. HNI on a tear and outperforming the DJI, Nasdaq, and my portofolio over the last several trading days. SIGNIFICANTLY outperfoming. while yield is marginal, capital gains have been outstanding.
while i don't intend to open another position here, i gotta congratulate all HNI Longs on "keeping the faith". you have sure been handsomely rewarded for your patience.
question for you...
are, or did you, put back in prior to today after your selloff? your timing has been very good and i wondered what position you may have taken.
personally, my stock portfolio reached record high on Sept 11 close but then i got pounded - starting on sept 15th. shuffled the deck and put down proceeds on FB, FLY and AAPL and made back 70.3% of what i had lost since Sept 11 high. While that is all well and good, i still woulda been better off having sold and buying back into a strong market today.
i understand the alleged futility in trying to time the markets but, all in all, i still try and am better off than did i not try.
so, willing to share here?
also, very nice to see PLOW on a strong run and outperforming a recent strong market - both DJI and Nasdaq. add yield to capital gains and PLOW is a big winner since the Baird downgrade. 75% of my other stock positions had a lower than avg trading day (not AAPL lol) but PLOW had a higher than normal trading day.
you focus more on BDC's than I. What is your take on strong resurgence of BDC sector over last several trading days? must be a driver about... Any thoughts here? S&P and/or Russell going to reinstate BDC's? not only great capital gains but significantly higher than avg. volume. I noticed that the vast majority of my other holdings (excl AAPL, FLY, and BDC's), while also enjoying great gains today, had lower than avg daily volume.
one other observation is that MAIN is outperforming my other 2 BDC holdings (OAKS and ARCC). other than MAIN being self managed and a Tier 1 BDC, any thoughts on that?
aahhh. a great close to a great day.
as we thought, FLY was undervalued by Mr Market and now Market is finally beginning to catch up. last few trading days a rather small sample size to reference a trend but, IMO, there will be. while FLY outperformed a strong DJI / Nasdaq trading day, the real proof is that FLY volume was nearly 42% higher than avg. Most of my other stock holdings, while realizing great gains, had trading volume less than avg. FLY % volume was very similar to AAPL who yesterday announced an historic earnings quarter. FLY's todays PPS % gain greater than AAPL. just an observation and comparison.
i still rate FLY a strong buy as its financial metrics indicate a continued oversold condition. if nothing else, FLY will outperform markets as Ebola scare wanes and low fuel costs contribute to airlines profitability and to airlines increasing purchases and leases. just wish FLY had purchased more planes with SO capital.
the dividends are icing on the cake and our yield is higher due to purchasing at lower share price.
congratulations to all Longs here....!!
Sentiment: Strong Buy
AND, SIX outperformed a great market today by over 100% and you leave no post? you only go public on bad days on stock you own? i gotta get you some of my happy pills....
i still anticipate SIX to have a good earnings report and the PPS oughta have a nice jump that day and a good 2 wks following. then we can sell.
now, we gotta work on your attitude. rejoice!!
the dividend is modest at best and in jeopardy. if you are in it for the yield, you are suffering some significant opportunity costs. altho i hold some positions for the dividends, they gotta be 4% plus with low debt and little volatility. TNK doesn't begin to measure up.
i'd classify TNK as speculative.
2 last FLY purchases on 10-15 bearing fruit at 11.14 and 11.29. nice rebound and, as Ebola scare begins to subside, expect plane leasing sector to come back along with airlines, hotel, and tourism/cruise industries.
sometimes it pays trying to catch a falling knife.
i agree with vanmus, we are past the bottom (depending on the markets in general).
yield helps in remaining patient until earnings report when the bounce and the timing coincide.
Sentiment: Strong Buy
yeah, check AAPL today. your I.D. is appropriate.
here is a Cramer pick for you... ALU. down 33.4% since he so shamelessy pumped them week after week.
another? he dislikes tobacco and down plays MO Altria. they pay out a 4.5% dividend and i am up 11.5% since buying couple months ago.
another? lol. he likes organic foods and continously pumps Whole Foods. you know that ongoing story.
notice on Mad Money how EVERY caller is positive on him? very seldom does he ever admit his gaffes and screeners never allow a negative caller who tries to expose him.
i realize Cramer thinks himself funny and clever. he is about as funny as Conan.