Even with the golden cross, the technical indicators are still pointing down. Once this correction is over, then it might become a good trade.
What is so unfortunate is that we now have a Fascist government who controls every aspect of the US economy. The whole world comes to a standstill when Grandma Yellen gets to speak. I suspect the FED now controls the President, The Congress and the Judicial. Suspect? Hell the FED does control everything as the country is bankrupt and the people of America pay interest to the bankers.
"Lamp posts pine longingly for decoration with the political class all over the nation.
The lamps are wise, like Ents, they know it's been too long, far too long.
Future generations will come to think of them as "liberation trees"."
And how many on his board expected DNLG to trade at $7.00 in January
I stick by my projection that dnlg will trade at $11.75 soon.
I would be a buyer at $9.75. And I think it will get there in the next 3 weeks or sooner. DLNG went too far too fast.
"If I didn't own so much already, this would be a buying opportunity for me as every pull-back has been hit with more buying"
NOT THIS TIME. This is probably heading back to close that gap at around $11.50.
DLNG considers all cash distributions as taxable dividends and has elected for tax purposes to issue 1099's to each shareholder. Makes it a little easier to hold in a IRA with no tax consequences.
Oh come now. Please don't tell me that charts do not work. I have been trading by charts for years. They tell me WHERE THE STOCK HAS BEEN and the indicators tell me where it is possibly going. Those indicators sometimes make fast money that I can take time away from this casino and take vacations.
I've already banked over $16.7K in the last 2 weeks selling puts on DLNG and other energy company's. I also banked another $4683.00 on Friday when my open order to sell more puts got executed 40 min before market close.
How long will it take you to bank that much money ( over 20K) collecting dividends????
and the higher DLNG goes the more puts I will sell.
Technically DLNG is extremely overbought. It's banging up against the upper Bollinger band for 11 days and the RSI has been way overbought since April 11th. Since the up move began, DNLG has run 60% +. That's since April 2. That's a hell of a move in a short period of time.
I think the next move is a long rest or a 30-50% correction of the move up. Possibly around $11.50-$13.00
THEN AGAIN I COULD BE WRONG which is why I like selling puts.
Good luck moakeybear. If you feel uncomfortable with this latest buy then sell against calls against it.
I sold calls against my total position in DLNG. I also sold puts on DLNG and sold another 10 dec 32.50 GEL for $4700.00. Lots of money going in my account on the positive side. Now over $16740.00 in puts and calls.
I think DLNG has run way too fast and far and time to take some money off the table. It would take me years holding against the distribution relative to the puts and calls income.
The coal companies were/are being put out of business because of the guy occupying the oval office. With 8 + months left in his term you won't recognize the landscape on Jan 20 2017.
BTW, George Soras is buying up the bankrupt coal company's courtesy of Obama. no doubt he and Michelle will leave the WH quite wealthy
Just buy a stock that goes up most of the time and stay away from #$%$ companies that are close to bankrupt. This company is on its last breath
I sold some puts today and made just over $3300.
I'd be a buyer in that gap around $11.55 Gaps always get filled. Tomorrow, next week , next month but they almost always get filled.
But I do think oil is going to trade under $30 if not lower by years end..
I was so happy to see the stock skyrocket as I was able to put in my account today a little over $3300 for selling 30 Oct 2016 strike 10 naked puts. Nice easy money and even if DLNG gets put to me at $10.00 my effective cost will be less than $9.00 a share. Like stealing money.
After evaluating your comments I think on a technical basis DLNG has gone as far as it can for the time being. It is hitting very strong resistance up against the 200DMA. There is huge resistance in the $11.50 to $13.00 range.
Sit back and sell calls to make extra money.
The other issue is that oil is not heading up this year. In fact, there is so much oil worldwide that crude oil prices could be depressed for 2 years or more.
You're correct. But that is going to change. The dollar is going to get much stronger as the other nations currency's race to the bottom and capital moves from Europe and Asia to the USA.
Who do you think is holding home prices up and builders keep building homes. The Foreign capital flowing into the USA.
"Got caught up in the hype"
That's easy to do. Sell some calls against what you bought.
The overall market seems like its getting weaker and will pull most stocks down with it. Earnings are not going to be good so all the yelling and jawboning Grandma Yellen does once a month on schedule is running out of steam. Then again, she has been very successful in moving the markets up every time bad news come out.
Technically the price left a gap on the hype move. That might get filled in a down market............if it comes.
I do think we will see EPD trading at $20.00. It would not surprise me to see crude test its low 2nd quarter. The world is awash in oil while the world's economies are slowing down.
Add to a losing stock? That has never been an option for me over my investing career.
I will add but only on stocks that are growing divvy's.