Private sector payrolls disappoints. It's all red this morning.
(a) EEM (Emerging Markets) -1.28% and back <40 to 39.85. EWZ (Brazil) -3.6% and about to retest its 52-wk low. (b) DJIA -140. SPX -16. (c) Miners in the red, although not by much. (d) TLT seeing safe-haven buying, +0.47% (less than expected). (e) VGK (Europe) -1%. RSX (Russa) -2.8%.
Not bad results out of Standard Chartered (SCBFF) and the stock up over 3%. They announced a new president a few days ago as well and think he will shake things up. Stock is really cheap on current metrics, but I think things get better and the stock does well.
The open bars, oysters, prime rib, rowdy parties, and luxury hotel suites are a thing of the past at the annual Toronto gathering of the Prospectors and Developers Association of Canada, having instead given way to chips and dip and Airbnb rentals thanks to the years-long slump in the sector. "I’m really depressed that I have to drink bourbon versus single malt scotch, it just doesn’t do it for me," says Ben Cox, CEO of Aston Bay Holdings (check out a price chart; it's a bet his shareholders feel even worse). "Everyone is panicked in the industry. If you are not humbled this year, whether you work for a major or a junior or anyone in-between, you are insane." "Flat is the new up," says another attendee. The gathering is "a little bit depressing," but a sign of the times.
Quite a change - I'm not bothering to go this year. It's good for talking to companies, but no point in trying to find good companies if the overall metals market remains weak.
This too
Silver Wheaton’s ‘train wreck’ $800-million bought deal is getting snubbed
SCBFF - I finally found the chart, it's been whacked pretty good so looks interesting from that perspective. FCAU - Recovering, this stock might be one that just won't die? Would be nice to own one like that finally.......
I like that one as a trader, gives nice moves if you can catch em. Macau is a major concern right now given the crackdown on illegal gambling. Eventually that will be a good buy. I believe they have the lowest leverage of the group so any slowdown in China shouldn't impair their balance sheet as badly if memory serves me right.
Loving that guy, he's on the ball seems like. Is he responsible for corralling all these brands, it's amazes me to see these iconic names all in the same company...... At a time when upscale and FCF are the primary measuring stick.
Best clothing line out there, not sure if that qualifies as a moat since the retail space seems to have been upended by the likes of online consumerism?
Ha - I thought about buying today just before the close too (like 3:55), but decided to wait as I thought we could get a down open tomorrow as the people who bought the last dip might see this lower price and do some aggressive selling.
We will see in the morning - if I was going to bet on someone picking the sentiment right, would definitely pick you over me.
Morningstar says they have a narrow moat, for what that's worth. Plus I did some googling around today for things like "fashion trends 2015" "fashion rankings" and Ralph Lauren was referred to as the "gold standard" in clothing.
Online shopping I think will actually help companies like Ralph Lauren as people will tend to look for the strong brand names on line (and make it harder for the little guys). RL is looking to expand their online and direct retail instead of having such a high percentage of sales through the department stores.
(a) GDX (miners) dropped below its February low, which likely means more downside ahead. A decline to the January lows would present an excellent low-risk entry. (b) EEM. The -1.5% opening decline occurred with a hint of panic, and in retrospect I might have opened RYWVX @ 1030 est. It's now recovered to -1%, which entails more risk than I'm willing to take on. Should it drop further tomorrow, I'll reconsider. (c) TLT slightly in the red, and surprisingly weak given today's market decline. I wouldn't touch it with a ten-foot pole at this point.
JONE looked pretty good to me. It is tricky, because they had such a huge gain on their hedge book that it overpowered everything else and I think they had taxes payable on it.
From an industry perspective, it is interesting that they see capital spending high into Q1 as they complete well and have their highest production in Q1. After that, they cut back on capital spending and will have lower production for the year. I would suspect that much of the big oil inventory increases we've seen lately are companies doing the same thing, but production will start to stabilize or even fall off as we move through 2015 as capital spending on new wells is reduced.
I guess if all the oil companies follow through on the promise to increase production, there won't be any place to store oil thus NA refiners will be in the catbird seat as NA oil prices fall, BRENT refinery input costs will be higher in comparison? Then, the $US gaining is also a factor as well, subtracting from NA refiners $$.
Granted his performance was aided just slightly by CELG: "Nate Pile: Sure. One of my long-time favorites is Celgene, ticker symbol (CELG)—even though it just recently became the newsletter’s first official 200-bagger—we were lucky enough to get into the stock at $0.435, adjusted for splits back in November of 1995. "
From Canadian Natural Resources (#2 energy company in Canada), forecasting oil production up 10% i 2015 and nat gas production up 10%. This is a huge oil sands company and their projected cash costs for 2015 are $33.50 a barrel, so still making money. Very difficult and expensive to stop these oil sands projects as well, so won't be cutting back at $50 a barrell.
From a drilling company: On January 22, 2015 , the Canadian Association of Oilfield Drilling Contractors released its revised 2015 industry drilling forecast estimating 26% average rig utilization compared to 44.3% actual average rig utilization in 2014. The 2015 forecast was based upon commodity price assumptions of US $55 per barrel for crude oil and CAD $3.00 per mcf for natural gas. The revised industry forecast projecting a 41% decline in utilization is indicative of the anticipated impact on the industry from the significant drop in crude oil prices that began in the second half of 2014.
CP- A few days ago you commented on a perceived contradiction on ROSE. When MOG was saying they might not survive, he was saying they might get bought out.
The Euro has declined -21% against the $USD in the past 52 weeks. I'm well aware of the dangers of trying to catch a falling knife, but the short Euro/long Dollar trade seems pretty crowded right now. I'm building a position in FXE this morning @ 108.46.
Remaining snow & ice melted y'day, a few inches -> mud and slush. New snow today, 3~6 forecast 12*F or so tonight & tomorrow night. Nice fresh snow no ice now.
(a) Taking a swing @ Emerging Markets via RYWVX @ the 1030 est window. Not a high-conviction swing, so appropriately sized down. (b) Closed HDGE @ 11.03 for a +1.4% gain (increased probability of a short squeeze in global markets going into Friday's jobs report).
Everybody's doing drones but it seems there are consumer oriented toys and then there are the commercial versions. I'm unconvinced AMZN will ever deliver via drone.
The reaction to a stellar jobs report is negative. I plan to close all positions at or near the open for minor losses. Sure, it could all turn around later in the day. But taking losses immediately has served me well, whereas trading on 'hope' has rarely proven profitable
TLT (the long bond), normally an asset that investors rotate into during market selloffs (and one I still wouldn't touch with a ten-foot pole), is off -1.35% this morning at the same time the DJIA is off -0.6% (-109 points). What's up?
(a) FCX (Freeport McMoran) off @ 20.08 for a -1.1% loss. (b) FXE (Euro) off @ 107 for a -1.3% loss. (c) PBR (Petrobras) off @ 6.03 for a -1.1% loss. (d) OIH (Oil Services) off @ for a -0.6% loss. (e) EWZ (Brazil) off @ 32.18 (a new 52-low low!) for a -1.6% loss. (f) RYWVX (Rydex 2x Emerging Markets) will be closed at the 1030 est window.
Reopening HDGE @ 11.01 (basically, the price at which I last closed the position). Still bearish. Thursday's play was simply a 'one off' on a short squeeze following the jobs report.
I think the jobs report is a positive. Traders are reacting with a sell as they thin k it means higher interest rates sooner. But I am quite confident that the first year at least of rising rates will be treated as a positive by the market as the rates are rising because of the improving economy and not to slw an overheating one.
I agree with BB. Initial fade then the realization that interest rates are still extremely low and the Fed is in no rush to raise. Same story, different month.
Granted I know 2nd's time frame is hours so not a big deal one way or the other...just think it eventually results in upward prices. What is the EPS estimate for the S&P 500 this year by the way? Last I checked it was ticked down to the high $120's.
And, SRS is on the boogie breakout, stay away from REIT's hafta think.. CADC - Someone wants a price on the ask, China did announce infrastructure spending a couple days ago.
And CP, I'd be staying away from everything that was trading purely on yield without fundamental earnings/BV/CF support.
Many stocks in Canada (and I'm sure the US) are way overvalued and utilities are top of the list and REIT's are only this high because they've been able to borrow so low.
Such as banks? I'm thinking BV of REIT's gets hit with real estate market valuations, homes don't tend to appreciate while rates rise and builders are going gangbusters.
None of that works if you're getting in AFTER the move.......
Started buying RL at $132.93 - It's below the lows of the earnings sell-off, so hopefully most of the sellers are out now and we can bounce soon. If it keeps dropping, I plan to add.
RL - I'm not comprehending how a rally in $US can impact the balance sheet negatively from the perspective the products surely must be manufactured overseas, perhaps Viet Nam, Sri-Lanca or Philipines, by lower wage workers.
Really nice to see the US invasions of the Middle East have resulted in peace and calm throughout the region besides just creating a megacap (TBTF?) defense industry while global warming has become the primary distraction to the realities.
Back from errands this morning to find all asset classes selling off! TLT -2%, but off the lows of the day. EEM(Emerging Markets) -1.5%. OIH (Oil Services -2.5%). XLE (Energy) -2%. GDX (miners) -7%. SPX -1.5%.
(a) Closing HDGE @ 11.16. (b) Reopening Goldcorp @ 19.14 (-7% today). (c) Reopening positions in RYPMX (Rydex Precious Metals), RYWVX (Rydex 2x Emerging Markets), RYVIX (Rydex Oil Services), RYEIX (Rydex Energy), RYGBX (Rydex 1.2x Government Long Bond), and RYTNX (Rydex 2x SPX) at the close. (d) Reopening CHK (Chesapeake Energy) @ 15.17 (-4.8% today, yet was trading @ 16.17 earlier this morning? Unreal.).
Time frame probably 1-2 trading days. It certainly feels like panic, and buying panic is what I do.
EEM <40.
ReplyDeletePrivate sector payrolls disappoints. It's all red this morning.
ReplyDelete(a) EEM (Emerging Markets) -1.28% and back <40 to 39.85. EWZ (Brazil) -3.6% and about to retest its 52-wk low.
(b) DJIA -140. SPX -16.
(c) Miners in the red, although not by much.
(d) TLT seeing safe-haven buying, +0.47% (less than expected).
(e) VGK (Europe) -1%. RSX (Russa) -2.8%.
Not bad results out of Standard Chartered (SCBFF) and the stock up over 3%. They announced a new president a few days ago as well and think he will shake things up. Stock is really cheap on current metrics, but I think things get better and the stock does well.
ReplyDeleteThe open bars, oysters, prime rib, rowdy parties, and luxury hotel suites are a thing of the past at the annual Toronto gathering of the Prospectors and Developers Association of Canada, having instead given way to chips and dip and Airbnb rentals thanks to the years-long slump in the sector.
ReplyDelete"I’m really depressed that I have to drink bourbon versus single malt scotch, it just doesn’t do it for me," says Ben Cox, CEO of Aston Bay Holdings (check out a price chart; it's a bet his shareholders feel even worse). "Everyone is panicked in the industry. If you are not humbled this year, whether you work for a major or a junior or anyone in-between, you are insane."
"Flat is the new up," says another attendee. The gathering is "a little bit depressing," but a sign of the times.
Quite a change - I'm not bothering to go this year. It's good for talking to companies, but no point in trying to find good companies if the overall metals market remains weak.
DeleteThis too
Silver Wheaton’s ‘train wreck’ $800-million bought deal is getting snubbed
http://business.financialpost.com/2015/03/03/silver-wheatons-train-wreck-800-million-bought-deal-is-getting-snubbed/
CENX - Getting cheaper by the day.
ReplyDeleteSCBFF - I finally found the chart, it's been whacked pretty good so looks interesting from that perspective.
ReplyDeleteFCAU - Recovering, this stock might be one that just won't die? Would be nice to own one like that finally.......
SCBFF - Amazing, nice job!
DeleteI need to start a new list for stocks that got whacked...... having difficulty keeping up with them all.
ReplyDeleteGold - About to drop under $1200? Wouldn't surprise me a bit, $700 doesn't seem unlikely to me at all. BAC @ $7 would be nice too.
ReplyDeleteI sold BABA at $82.2. Taking a quick gain.
ReplyDeleteWYNN - About back to recent Dec. low
ReplyDeleteI like that one as a trader, gives nice moves if you can catch em. Macau is a major concern right now given the crackdown on illegal gambling. Eventually that will be a good buy. I believe they have the lowest leverage of the group so any slowdown in China shouldn't impair their balance sheet as badly if memory serves me right.
DeleteI read the gamblers went to Viet Nam, possibly the Philippines too but can't recall.
DeleteACM - Kicked some bootie this month, good place for it to stall.
ReplyDeleteJONE - Still getting the snot beat out of it, coming to me......
ReplyDeleteEarnings after close, should prove interesting.
DeleteStill trying to figure out what percent of my portfolio should be in energy stocks. Just sitting on what I have and watching.
DeleteIn hindsight (always easy), should have bought the small caps a couple weeks ago as a lot are up 50% since then.
But the question is whether it is a bounce in a downtrend or then beginning of a bottom
AVAV - Jumped then crashed off the cliff. Quite a difference in opinion or fake sucker move?
ReplyDeleteMarchionne saying things looking better in Southen Europe
ReplyDeletehttp://www.reuters.com/article/2015/03/04/autoshow-geneva-europe-recovery-idUSL5N0W30U020150304
Loving that guy, he's on the ball seems like. Is he responsible for corralling all these brands, it's amazes me to see these iconic names all in the same company...... At a time when upscale and FCF are the primary measuring stick.
DeleteI feel like kissing someone.
The brands have been there a long time, other than Crysler. But Marchionne is doing a great job of unlocking the value, which is driving the stock.
DeleteCP Kiss this girl!
Deletehttps://www.google.com/search?q=Richard+Branson+kitesurfing+photo&es_sm=122&biw=1226&bih=884&tbm=isch&imgil=Pt1CtgxVL91e4M%253A%253BooIPUx6m1DxmSM%253Bhttp%25253A%25252F%25252Fwww.youtube.com%25252Fwatch%25253Fv%2525253DkQ4GrxFgAB4&source=iu&pf=m&fir=Pt1CtgxVL91e4M%253A%252CooIPUx6m1DxmSM%252C_&usg=__yBargqUmIRHm9-494L8FKKZOreo%3D&ved=0CDMQyjc&ei=A5H0VNG8DYaayATjtIGoCA#imgdii=1du9tWDlEvsbcM%3A%3BTzydtWfW3_ZrqM%3B1du9tWDlEvsbcM%3A&imgrc=1du9tWDlEvsbcM%253A%3BYtmgDZhbn4_EAM%3Bhttp%253A%252F%252Fwww.ekstremalne.pl%252Ffiles%252Fphoto%252F400x300%252F89d350b935884c10fc00e7130cb9c659.png%3Bhttp%253A%252F%252F123movies.tv%252Fbiography%252FDenni%252C_Richard%3B400%3B300
Ha, ha, maybe I can someday! Schwing!!!...... :)
DeleteIFON - Eating apple pie?
ReplyDeleteRL was below $135 for a bit today. Would love to see a bit of panic selling down below $130.
ReplyDeleteHaven't pulled the tirgger yet, but according to my 21 year old daughter "they have great clothes! they're really cute!"
I have on my watch list a note to consider buying at $132. I think that was based on valuation and technicals. Wish I noted why.
DeletePicked up a little today right at the close
DeleteBest clothing line out there, not sure if that qualifies as a moat since the retail space seems to have been upended by the likes of online consumerism?
DeleteHa - I thought about buying today just before the close too (like 3:55), but decided to wait as I thought we could get a down open tomorrow as the people who bought the last dip might see this lower price and do some aggressive selling.
DeleteWe will see in the morning - if I was going to bet on someone picking the sentiment right, would definitely pick you over me.
Morningstar says they have a narrow moat, for what that's worth. Plus I did some googling around today for things like "fashion trends 2015" "fashion rankings" and Ralph Lauren was referred to as the "gold standard" in clothing.
DeleteOnline shopping I think will actually help companies like Ralph Lauren as people will tend to look for the strong brand names on line (and make it harder for the little guys). RL is looking to expand their online and direct retail instead of having such a high percentage of sales through the department stores.
I gave room to add lower just in case
Delete(a) GDX (miners) dropped below its February low, which likely means more downside ahead. A decline to the January lows would present an excellent low-risk entry.
ReplyDelete(b) EEM. The -1.5% opening decline occurred with a hint of panic, and in retrospect I might have opened RYWVX @ 1030 est. It's now recovered to -1%, which entails more risk than I'm willing to take on. Should it drop further tomorrow, I'll reconsider.
(c) TLT slightly in the red, and surprisingly weak given today's market decline. I wouldn't touch it with a ten-foot pole at this point.
No trades. One position, in HDGE (+0.55% today).
ANF - Woo-hoo......
ReplyDeleteFDML - How about this one, these guys are a serious company beat up.
JONE looked pretty good to me. It is tricky, because they had such a huge gain on their hedge book that it overpowered everything else and I think they had taxes payable on it.
ReplyDeleteFrom an industry perspective, it is interesting that they see capital spending high into Q1 as they complete well and have their highest production in Q1. After that, they cut back on capital spending and will have lower production for the year. I would suspect that much of the big oil inventory increases we've seen lately are companies doing the same thing, but production will start to stabilize or even fall off as we move through 2015 as capital spending on new wells is reduced.
XOM announced cap-ex reduction and production increase forecast.
DeleteI guess if all the oil companies follow through on the promise to increase production, there won't be any place to store oil thus NA refiners will be in the catbird seat as NA oil prices fall, BRENT refinery input costs will be higher in comparison? Then, the $US gaining is also a factor as well, subtracting from NA refiners $$.
DeleteBMY - Making progress on cancer therapies?
ReplyDeleteENOC - This one's had the snot beat out of it as well.
ReplyDeleteCame across this guy while doing some research:
ReplyDeletehttp://www.marketocracy.com/managers.php?manager=4097
he writes on this site:
http://www.notwallstreet.com/
Someone worthy of following.
Granted his performance was aided just slightly by CELG:
Delete"Nate Pile: Sure. One of my long-time favorites is Celgene, ticker symbol (CELG)—even though it just recently became the newsletter’s first official 200-bagger—we were lucky enough to get into the stock at $0.435, adjusted for splits back in November of 1995. "
First and only most likely.
More oil news:
ReplyDeleteFrom Canadian Natural Resources (#2 energy company in Canada), forecasting oil production up 10% i 2015 and nat gas production up 10%. This is a huge oil sands company and their projected cash costs for 2015 are $33.50 a barrel, so still making money. Very difficult and expensive to stop these oil sands projects as well, so won't be cutting back at $50 a barrell.
From a drilling company:
On January 22, 2015 , the Canadian Association of Oilfield Drilling Contractors released its revised 2015 industry drilling forecast estimating 26% average rig utilization compared to 44.3% actual average rig utilization in 2014. The 2015 forecast was based upon commodity price assumptions of US $55 per barrel for crude oil and CAD $3.00 per mcf for natural gas. The revised industry forecast projecting a 41% decline in utilization is indicative of the anticipated impact on the industry from the significant drop in crude oil prices that began in the second half of 2014.
CP- A few days ago you commented on a perceived contradiction on ROSE. When MOG was saying they might not survive, he was saying they might get bought out.
ReplyDeleteOh, yeah it must've confused me a little, thanks for clarifying.
DeleteJONE - Yep, someone likes it.
ReplyDeleteThe Euro has declined -21% against the $USD in the past 52 weeks. I'm well aware of the dangers of trying to catch a falling knife, but the short Euro/long Dollar trade seems pretty crowded right now. I'm building a position in FXE this morning @ 108.46.
ReplyDeleteI want an India play, AGCO seems like one but already has moved up. have been watching INXX too, maybe a bank or something.....
DeleteCW - Nice knockout last month, now can't get past the resistance area despite newer high.
ReplyDeleteWWAV - White Wave Foods.
ReplyDeleteTOF, what was that foods company you had on radar, there were two actually I believe.
hmmm not sure. AMNF and RMCF?
DeleteAMNF - That's the one.
DeleteRemaining snow & ice melted y'day, a few inches -> mud and slush. New snow today, 3~6 forecast 12*F or so tonight & tomorrow night. Nice fresh snow no ice now.
DeleteDB - Was actually hoping for another dip to add..... Come on gimme....
ReplyDelete(a) Taking a swing @ Emerging Markets via RYWVX @ the 1030 est window. Not a high-conviction swing, so appropriately sized down.
ReplyDelete(b) Closed HDGE @ 11.03 for a +1.4% gain (increased probability of a short squeeze in global markets going into Friday's jobs report).
airBB- How is JONE trading up there?
ReplyDelete"Chemicals Industry: Portfolio Chemistry; PE resin price slide continues
ReplyDeleteMarch 02, 2015"
I ended up selling my YNDX today at $15.8ish.
ReplyDeleteSold another 10% of EYES. Down to 70%.
I added a good deal more of RL today at $134.6x. Some of these retail stocks are so out of favor so its probably a good time to be buying.
ReplyDeleteEYES - I've been watching..
ReplyDeleteBest I can see, testing support here.
DeleteJONE - Odds of close near HOD?
ReplyDeleteAVAV - Isn't this a play on drones? Whats the big winner in that space should it take off via Amazon etc?
ReplyDeleteEverybody's doing drones but it seems there are consumer oriented toys and then there are the commercial versions. I'm unconvinced AMZN will ever deliver via drone.
DeleteAdding small positions in the following:
ReplyDelete(a) OIH (Oil Services) @ 34.90.
(b) EWZ (Brazil) @ 32.70.
(c) PBR (Petrobras) @ 6.10.
(d) FCX (Freeport McMoran) @ 20.31.
Picked up some Z at $114 today. Thinking the consolidation phase could be nearing its end.
ReplyDeleteFiat S76
ReplyDeletehttps://vimeo.com/113158655
HDSN - Breaking up?
ReplyDeleteMark,
ReplyDeleteJONE does not trade in Canada. It is a US listed only company.
The reaction to a stellar jobs report is negative. I plan to close all positions at or near the open for minor losses. Sure, it could all turn around later in the day. But taking losses immediately has served me well, whereas trading on 'hope' has rarely proven profitable
ReplyDeleteTLT (the long bond), normally an asset that investors rotate into during market selloffs (and one I still wouldn't touch with a ten-foot pole), is off -1.35% this morning at the same time the DJIA is off -0.6% (-109 points). What's up?
ReplyDelete(a) FCX (Freeport McMoran) off @ 20.08 for a -1.1% loss.
ReplyDelete(b) FXE (Euro) off @ 107 for a -1.3% loss.
(c) PBR (Petrobras) off @ 6.03 for a -1.1% loss.
(d) OIH (Oil Services) off @ for a -0.6% loss.
(e) EWZ (Brazil) off @ 32.18 (a new 52-low low!) for a -1.6% loss.
(f) RYWVX (Rydex 2x Emerging Markets) will be closed at the 1030 est window.
The ebb and flow of trading.
Reopening HDGE @ 11.01 (basically, the price at which I last closed the position). Still bearish. Thursday's play was simply a 'one off' on a short squeeze following the jobs report.
ReplyDeleteA 'one off' bet is what I meant to say.
DeleteI think the jobs report is a positive. Traders are reacting with a sell as they thin k it means higher interest rates sooner. But I am quite confident that the first year at least of rising rates will be treated as a positive by the market as the rates are rising because of the improving economy and not to slw an overheating one.
DeleteI agree with BB. Initial fade then the realization that interest rates are still extremely low and the Fed is in no rush to raise. Same story, different month.
DeleteGranted I know 2nd's time frame is hours so not a big deal one way or the other...just think it eventually results in upward prices. What is the EPS estimate for the S&P 500 this year by the way? Last I checked it was ticked down to the high $120's.
DeleteAnd, SRS is on the boogie breakout, stay away from REIT's hafta think..
DeleteCADC - Someone wants a price on the ask, China did announce infrastructure spending a couple days ago.
Below $120 now, mainly due to lower energy - http://fundamentalis.com/?p=4575
DeleteAnd CP, I'd be staying away from everything that was trading purely on yield without fundamental earnings/BV/CF support.
DeleteMany stocks in Canada (and I'm sure the US) are way overvalued and utilities are top of the list and REIT's are only this high because they've been able to borrow so low.
Such as banks? I'm thinking BV of REIT's gets hit with real estate market valuations, homes don't tend to appreciate while rates rise and builders are going gangbusters.
DeleteNone of that works if you're getting in AFTER the move.......
FIVN - Moving up, cloud thingy of some sort.
ReplyDeleteCOUP - My broker has $18 or so target on this, instititionals have been adding. Doesn't look cheap thou?
ReplyDeleteGold - Holy crap, was thinking it looked weak..... Going to $700 or so maybe?
ReplyDeleteStarted buying RL at $132.93 - It's below the lows of the earnings sell-off, so hopefully most of the sellers are out now and we can bounce soon. If it keeps dropping, I plan to add.
ReplyDeleteI actually sold for a small loss this morning and forgot about it so thanks for the heads up. Will prob start buying again
DeleteRl below $132 now. There was some good volume in the $132.90 range, so I thought might have been, but more selling still.
Delete$US has taken off, that should benefit banks and about nothing else.
ReplyDeleteRL - I'm not comprehending how a rally in $US can impact the balance sheet negatively from the perspective the products surely must be manufactured overseas, perhaps Viet Nam, Sri-Lanca or Philipines, by lower wage workers.
ReplyDeleteReally nice to see the US invasions of the Middle East have resulted in peace and calm throughout the region besides just creating a megacap (TBTF?) defense industry while global warming has become the primary distraction to the realities.
ReplyDeleteBought back my shares from yesterday that I sold of eyes. I still think this is a homerun technology
ReplyDeleteRL- That's a tough one chart wise.
ReplyDelete2 Bits for MDW?
ReplyDeleteBack from errands this morning to find all asset classes selling off! TLT -2%, but off the lows of the day. EEM(Emerging Markets) -1.5%. OIH (Oil Services -2.5%). XLE (Energy) -2%. GDX (miners) -7%. SPX -1.5%.
ReplyDelete(a) Closing HDGE @ 11.16.
(b) Reopening Goldcorp @ 19.14 (-7% today).
(c) Reopening positions in RYPMX (Rydex Precious Metals), RYWVX (Rydex 2x Emerging Markets), RYVIX (Rydex Oil Services), RYEIX (Rydex Energy), RYGBX (Rydex 1.2x Government Long Bond), and RYTNX (Rydex 2x SPX) at the close.
(d) Reopening CHK (Chesapeake Energy) @ 15.17 (-4.8% today, yet was trading @ 16.17 earlier this morning? Unreal.).
Time frame probably 1-2 trading days. It certainly feels like panic, and buying panic is what I do.
Well played with the HDGE sir
DeleteEnded up on passing on re-entering RL and just bought EYES. Still think this could get to $30+
ReplyDeleteThankfully, we haven't been interested in plastics manufacturing or refineries.
ReplyDeleteLove That Dirty Water.....
ReplyDeletehttp://www.lzcenter.com/Music/66_48%20Standells%20-%20Love%20That%20Dirty%20Water.mp3
new toast (I mean post)
ReplyDelete