When will it be CUT at current oil prices .... without major war to take SA off-line ?
I may play again with BBEPP after next drop in a few days, but I've generally switched to the bonds (LINN, BBEP, SD) for the long term bounce which will eventually arrive in 2nd half 2016 ? or 2017
This is how capitalism works my friends. I'm not buying BBEP this time around, Mid-Level oil plays (MRO) and USO works for me. But if MRO breaks below 7 again tomorrow, then I'm selling again and staying away for the big WASHOUT which should route small players into the toilet bowl. I do not believe BBEP is immune towards BK either, just because of some hedges they have. Management will join the crowd to avoid being left behind.
Still holding 1000 shares of BBEPP, may sell this week if we do not hold above 5
Lot's of incentive for BBEP to re-organize because BBEP+ BBEPP has $150 million in combined market cap... and you folks are excited about 40% yield on BBEPP. Think "Return of capital".
I sold on the run up including the 8s Bought back 1000 shares at 6.5 .... "but already regret" Will probably just resign and hold this and try to resist buying any more. Oil will probably be in the 20s to 30s range for next 3 months or so and this will squeeze out some more Chapter 11s When they cut the dividend on BBEPP then you know the writing is on the wall.
I sold 2/3 of the position today. Moved 1/3 to BBEP bonds Will use the other 1/3 to place in another Energy company after we get past few days in February. Need to see what the market sayeth
Yes I regret buy ing at 4.68. But today, I did not regret buying another 1k shares at 3.74
Also took a nibble on EVEP .. I'm curious to see how that one reacts to the inevitable news of the dividend being cut (in next few weeks most likely).
When BBEPP gets back to low 8s, I will reduce (this summer?). Still a small chance we get Commodity armagadden so I'm not too confident now. Will feel better if we can flatline / consolidate for next 3-4 weeks.
Bought it back today 4.68 .... regret again ! Look at the big block sell/buy at the end. Somebody thinks Breit is about to burn Now i have to pray for the FED intervention to come sooner than later.
Was hoping for a pivot on Oil today, but I'm not so sure of that now. Looks like others will opportunity to buy in the high 3's and low 4's until 1st week of Feb ? If by chance we do close around 4.5, then I timed the beginning of a dead cat bounce.
Betting on Red. The story goes that Avon leadership sucks. Well this latest investor will probably do something about it... Stock is down today because of China (avon growth market). Anybody know why Yahoo shows negative book value? Today is pivotal. May retest lows if China does not bounce hard
In 2008-2009 I was buying bank preferreds of a few small, med, even large banks and got taken to the woodshed. This time around 2015-2016, I expect similar rhyming story only this time it's the commodities. So my word of caution, if you can get similar yield on the bonds, you are less likely to go to zero in your brokerage account. The bonds are less liquid of course, but at least you can hold and hope for the best as the BK process rolls on. Preferreds 80% of time get ZERO
Always remember, the FED will print more money (QE) but not until the time is right... Not until the consolidation in commodities is mostly complete. Rumors of QE may start as early as this month, but those rumors could float for a long time meanwhile your commodities stocks are heading towards zero.
Folks who sold BBEP and wanted to get back in for 2016 are holding the stock price up (yes it's severely discounted but blessedly still above zero)
With oil about to test and probably break to new lows, I would think BBEP will be a Quarter per share by February. At that time, I would be wondering if BBEP is going to try and negotiate with bond holders for equity swap? Is that possible with MLP ? It better be, else we may be looking at BK filing by summer of 2016
I won't touch equity but giving some consideration about the bonds in energy markets for long term investment