You do realize the reason the stock shot up was because of a short covering, right? No fundamentals involved, the stock has been priced for BK for years. All the gaps up have been short covering!
When was the last time FRO made money? What's money got to do with it? Look at Tesla, trading at about 42X BV, if there business grows every year for 10 years the stock will still be overvalued. So why doesn't wall street throw the FRO dart 10 years out and say, hey FRO might do that in 10 years so lets pump the sp back up to $60, it could happen.
So its got nothing to do with money or fundamentals, IMO
Worst case, 2.40 to 2.60 should be the bottom.
Speaking of Mr JF, somebody told me on another board he was a smart man, the industry overbuilt and FRO stock dropped from $60's down to $2's, I didn't laugh out of respect. You do realize he probably shorted his own stock?
Me, looking at building a LT position and riding the last short train.
Never say never, remember, that smart man has billions protected, so sometimes BK is what smart men do, if rate are down for 2 more years, it will be liquidated...IMO
So why buy, I guess I'm not smart(:-)
Campaign Suezmax started today at 3.7X, 2 year LT plan with another account for trading, both loaded and started. Hoping LT to buy down to 2.4X, if it happens, if not, ride the next short train. LT goal $15+ with continued recovery in sector.
Current down market, overall, LT buying opportunity...IMO
So you have no position in HERO and are just wasting your productive time on a yahoo message board! You know, you could put in a buy at $4 "range" and go do your job, but I guess that would be too easy!
You idiots fascinate me, you have no chips on the table and are waiting on $4 range but yet too dumb to buy shares at 4.5X in case it doesn't go to your mystery number!
Almost forget, it you would of touched it last time you would of made 4.8% on last trade because of short covering, you made nothing, so you wasted your time and our time.
But you entertain us, you are the reason I live in a gated community!
You claimed you were short and locking profits, so how is he trying too hard?
His facts are true, the market is getting slammed and HERO is down only 1.31%, as of now.
Shorts have been covering for weeks, question is, when you buy shares you going long, or is it just a trade for you?
Can you answer questions, or just make broad statements about nothing?
Added to position and trading shares at the 4.56-4.59 area this morning, watching the T/A charting pattern was a beautiful thing. First test of the bottom pattern, we think is a new bottom, bounced off and headed north. Based on low volume, that is even better news!
A good sign, but weneed the discovery rigs on LT contracts, still expect good news this month.
Latest agenda, the shorts are bound and determined to keep the large $5 calls volume(last 45 days-March) from going long, it seems its not a hedge so far. Next week there will be a big battle for a above $5 close! If not, some will learn common shares is something they can't take away from you!
I'm happy, life is good! But, keep some powder dry, we are not blue skies yet!
"they can't pay off their obligations"
No, they didn't add to debt, they are moving debt around for lower debt expense, since HERO clearly stated in CC they were looking at these three options in 2014 with free cash flow, issue a stock dividend program, reduce LT debt or building new rigs. By moving debt out to another year, they can pay down ST debt or refinance at lower rates.
Overall, the news is good and the China data is what caused the sp to go down today.
Any market weakness will have the shorts covering, it will go fairly well unless good news comes down the pipe, then the bar we be raised, they are buying because they know they want to own long!
I'm all for spinning the negative, its what all shareholders need to know. But you are taking a positive and turning it into a negative, so you are either misinformed or angry.
So you a day-trader?, shorting st these levels or adding shares long?
I see this board needs some leadership! What part of stock going up due to short covering do you not understand? $7 by summer, it was $5 when you exhaled that statement in January. We said it was going to $3.80!
Grannybones?....are you a child?
I see this board needs some quality posters or an exorcism!
The good news, we are about to save you now that the short covering is done and the stock sinks off the Bermuda shores slowly.
Next time, pull a number out of the box that actually is a mark on T/A line!
Ms Cleo's tankers are headed to the high seas!
Somebody on another board told me JF was the smartest man they know, sure he is, he overbuilt and watched the stock go from $60's to below $4 and FRO almost had to file for Chap 11.
I'm here John, hope you can survive on those billions for another year!
I'll be back, Alegrias!
I thought we would be on the same page, from a market point of view, market was down on China Russia, etc. and the sp was bumping 16.5X and soon as the news hit a speculative buyers walked up to the pole, almost like he now had permission to start buying shares! Without the big buyer, it was headed to 16.3X. Lets hope this brings in some institutional support since we lost a big supporter, the seller I identified weeks back.
I think we agree on this one, thanks for being a professional like us!
Glad you're not attacked daily from bringing information to the table, if you're ever in Atlanta, stop by and I'll buy you dinner.
and roll! FWIW, my alarm just went off on FRO, its approaching my 3.80 mark. Below $3.95, shorts are done for now, its a different ballgame.
Now on primary radar screen for tracking, that's your Bogey!
You seem to be up on the MI/insurance business. With the overall political battle in the senate and congress over Freddie and Fannie, reduction over time, seems to be good news for GNW/RDN, etc? This should direct more business to the private insurers? I remember years back Schneider from Genworth addressed this issue with MICA. Is this the path we wanted?
Is the current news the same path discussed years back, again, seems like good news to me LT for Genworth, you have an opinion or is it not a game changer?
Added some shares @ the 7.1X for a ST trade, if you're long and building a position, a good entry/add point on a LT risk/reward...IMO!
using the down turn(s) to buy shares, smart short, welcome aboard mate!
Could be Mike, oh never mind, he is waiting on ZERO cause he is long!!!!!!!!!!!
I haven't seen mike this excited in years...LOL!
bad market today, short sell down shares in pre market on what is actually good news = great opportunity to add trading shares. Private placement is good news longs, don't let them scare you!
Thank you China!
Still pissed you didn't sell in the $7's? You are a disaster, big difference!
You thought it was going to be easy to push it down to $3's and now you're down on your short position, I warned you Mensa boy! Global is no match for my team, we are going to squeeze an extra 18% out of their stupidity and we don't even have to wait on a letter from the SEC!
Like a rock!
tensions in Ukraine, if they become a reality, then oil and gas sector is the safest place to be, Oil prices will increase. Based on BV and current tensions, HERO is a low percentage risk, even in a bad market!
Lets see if the market bounces today!
I was watching smokes, no matter what happens, that was a high % mark. I was patient for 4.72, but did see the action and you made a good call, no matter what happens.
The great thing about the sp of HERO, you can always cost average in a trade also, the odds are with you heading North!
You can't make money unless you're in the game!
consolidation in the 7.6X range after earnings, put PKD on radar now that its below that level. Be patient, its time to watch for a possible ST trade.
Hopefully Gray is back on his two week hitch and those poor rig hands have to listen to him whine about his job!
If we're lucky, he falls off the platform!
Let me help Mike, Cramer trashed PKD when we recommended it for LT investor's and he picked two other stocks in space, since then he is down one and up one less than 28%, PKD is up over 100% in the same time frame.
Cramer is a good resource and full of "it"(information) and should be used as a sounding board. He also makes good calls!
Just look at the math on HERO, math always works, sometimes it just takes awhile before wall street decides to do the math.
Now, you can take another vacation and we will send you a postcard when it hits 5!
Wouldn't it be a novel idea that you start contributing instead of whining and saying stupid stuff?
I'll take the gold and you can have the silver! Welcome aboard the SS HERO, this board is much better than the GNW board. Listen to the audio released on Friday, its boring, but things we must do when one has such big profits riding. Kind of negative for me, the LTC product is expensive, I wouldn't buy it! It seems the potential market is small based on cost to insurer, verses income levels. Most of the boomers have big 401K's, they are the customer and most already have the funds, 80% of the market is below income level for policy...IMO
But, unlike the idiots who stalk me, you know I'm not negative, just cautious on 1st Qtr earnings, "IF" earnings go down sequentially, the headlines could #$%$ a few. Now with my number of where sp should of been after earnings and we fought for, we are there, now what?
I'm still cautious ST on GNW, but glad you are making the calls. Keep on trucking!