Mark...what do u think about WMC? I still have some shares left...looking at the yield, and I am thinking about maybe buying more...what is your take on this, given the possibility of a rise in interest rates.
These guys have done a great job..but....the price of oil will stay at these prices, or lower after the driving season is over, and there is nothing PGH can do about that. It will lose money regardless of hedges, production increases, etc....they are a nice little company caught in a bear trap of an industry....I would not touch it above $1.00....this is going to last until the Saudi's decide it won't
Lots of good things happening with BAC, even if the Fed does not increase rates. Big fines are over, they will pass the next Bank smell test, or CEO will be gone...earnings will be good, divvy will be increased, share buyback resumed....18-20 a share in the near future....IMHO.
I don't like the DOW's action today...once it came back from down 1083, it failed to hold the rebound...this could get much worse before it gets better...looks like NMM has reached bottom...hopefully. my largest position by far is BAC...bought more this AM. along with more SFL. The Fed cannot even be thinking about a rate hike now...can they??? China market is a disaster, and the govt. has egg on their faces for not being able to stem the tide of decline. How long will the Saudi's endure the pain of low oil prices? They need to service their debt and various expansion programs over there....this must be hurting them as well. I read somewhere that the Saudi's need $100. to stay out of the red....what a mess...and at my age no less....did not need this......GL to all.....
Only if you're on Heroin or have like 200 shares...for those of us with substantial positions, its damn painful.....lets hope we will be rewarded with another big ride up!!!!
I too, fear more pain, STAGG....Sept/Oct may not be kind to us. Oil has even further to drop once driving season is over, Iran oil comes on line....everyone is pumping like crazy. I just keep buying BAC, and SFL....waiting for the dust to settle before I step in any further. Any possibility that SFL could get hurt with charter cancellations ala NMM today? Not my area of expertise, so I am throwing it out there.
What else is new. I am sitting here contemplating my navel, as I look for answers to mounting losses in what's left of my portfolio. I have no answers.
Bought more SFL and BAC today...I soon will need to file one of those forms that hedge funds fill out when you own more than 5% of a company's stock....don't ya just love shipping? GLOP, KNOP, and now NMM....nice.
Back to my navel.....its much more rewarding than watching my stocks going down.
DB stands for duche bags.....they know nothing...next week they will come out with a strong sell, so they don't look stupid...then what will you do????
DB is on of the worst run banks in the world.....forget them.
I will not sell because I am too stubborn and do not like to take losses....if this doesn't go bankrupt, we should all be ok once oil rebounds....when that will happen is anyone's guess.
That's my biggest fear....bought at $11.40 and thought I was getting a bargain....I will hold as even if the divvy is cut, which looks like a certainty, the price should rebound...in the meantime, I just collect fat divys and wait...no sense selling into this downdraft.....
NMM is looking at much lower rates going forward, hence lower income...one of its charters has already defaulted, and there will be more with oil at or near $40 for the forseeable future...the divvy will be cut....the worst is to come in 2018 when massive debt payments come due....if rates are not much higher, this company could see itself in big trouble....its hard to sell out at $9.00, but a lot easier than selling out at 5 or lower....
The giant has been slain.....this company will be bankrupt shortly.....do not touch this at any price.
Copper...Oil...Gold.....the super trifecta of doom....20 B in debt is the icing on the cake.....
Sentiment: Strong Sell
Doesn't look like it...there is nothing but bad news out there for BP, and it refuses to break its 12 month low...can't even get it to go under $35.....
Nothing anything does right now, will recover my losses....now 40% cash, 30% BAC and JPM, the rest in stuff in NRZ, SFL, NMM, UAN, AI, OXY, STO and some biotechs now very much underwater. I fear a prolonged deflationary cycle, and that means there is no place to hide...not gold, not oil...nowhere....but cash. Hope I'm wrong, but I don't think so....looks like the market is headed for a significant decline. Why the Fed would even consider increasing interest rates in a free falling, deflationary environment is beyond my comprehension....and, yes, as you can see from my tone, I am really depressed and very negative regarding the market right now....Cramer says there is always a bull market somewhere....really?....I don't see any right now, and that is scary...leaving for the shore tonight...maybe that will help my attitude.
Mark, STAGG, DH and others.....I own it, but paranoid based on what is happening to mREITS...WMC, NRZ, etc....also looking at Starwood....need to put money back to work, hopefully into stocks that go up and not down....all opinions/ideas welcome.