Trading about 2x book makes it expensive, we want less than book. However, this might be an inaccurate figure given they just raised cash? I wouldn't see how but me I don't understand fancy book keeper magic.
Probably another retailer losing market share to AMZN and others. Lot of Christmas shopping going on around my place this year - maybe more than in the stores.
Problem is, all these commodity companies have no pricing power, so hard to justify jumping in until we see oil bottom out. Maybe the new law allowing US oil exports will be the catalyst, but who knows.
I don't need to read the article but wonder if he's talking about the drop from $10 to 8 or the drop from 7 to 6 or maybe the one from 5 to 4? 3,2,1 -> $0
I think the odds of new highs between now the the first week of January are pretty good. But a steep correction (you might call it a proper 'sell the news' reaction to today's rate hike, currently 'detained' by positive seasonality) is likely to follow. If we remove the 'algo' effect, the correction may even begin this week. Either way, I wouldn't bother chasing the current rally.
All of my KCLI holdings have been taken out of my accounts this morning (you can still see the shares, but they are not available to sell). Hopefully that means we get the cash quickly.
RUHLE: We have been tracking volatile oil prices including recent lows for the year in crude. But one man's crude is another's treasure. Investor Sam Zell maybe loading up on distressed energy assets and Jason Kelly is with us too.
Sam, let's talk energy, distressed energy. First of all, do you think prices are low enough, and if you do, where specifically are you buying?
ZELL: Well, first of all, again, it's not so much prices as it is specific opportunities. In other words, obviously prices are down. But what makes the opportunity is the distress of the situation.
RUHLE: Like what? Where?
ZELL: Well, you know, we're investing in the Piceance in Colorado. We're investing in the Permian Basin. We're responding to the difficulties that other people are having. I mean in the last few months all the banks have redone their reserve reports. And all the numbers of availability of cash in the energy space are way down. So there's a lot of pressure.
Currently like in real estate in '09 the energy lenders are playing pretend and extend. And they're going like this and don't tell me how bad it is. But the reality is, that's going to move forward and continue to cause upheaval in the energy space and that kind of upheaval adjusts and creates opportunity in pricing.
So it's the same kind of creating a competitive advantage by virtue of your entry price.
From Zell
"ZELL: Yeah, I think that I'm probably more focused on gas than oil. And it's, you know, it's a little bit like real estate. I mean we made a fortune because we bought real estate at a discount to replacement cost. Well we're buying gas in the ground, gas that's been drilled. People have spent $10 million a well, we're buying wells at dramatically less than that. So it's the same kind of creating a competitive advantage by virtue of your entry price."
Hopefully TA has bottomed as well. That thing is so cheap in my opinion. They're transforming into a more convenience store reliant company which is much more stable (just look at CASY's earnings over the past 10 years).
GLD (gold) and USO (crude oil futures) printing new 52-wk lows. Miners (which rallied +4.38% yesterday) are off -4.76%. Opened a small position in NEM (Newmont Mining) on this morning's -8% decline.
KCLI is now just trading for the large shareholders. We get the $52.50 per share, so that is no longer supporting the price and doesn't affect us. Pretty much back down to where it was before the announcement.
All of my KCLI holdings have been taken out of my accounts this morning (you can still see the shares, but they are not available to sell).
KCLI is now just trading for the large shareholders. We get the $52.50 per share, so that is no longer supporting the price and doesn't affect us. Pretty much back down to where it was before the announcement.
All of my KCLI holdings have been taken out of my accounts this morning (you can still see the shares, but they are not available to sell).
I hate the freaking 'load more' shit.
ReplyDeletefunny Mark, nice trades
ReplyDeleteTOF- BITA. Options?
ReplyDeleteTrade options? Is that what you're referring to? I don't trade options anymore. I'm targeting a move to $45-50. Hopefully by next week!
DeleteHow in the hell do you trade ENPH's chart now? Gap fill?? Yikes.
ReplyDeletePAH - Wow man, that's some kind of move.
ReplyDeleteENPH - You can be confident solar will provide support as long as climate change exists.
Why is it all bids drop in AH, almost without exception.
ReplyDeletePN- Anyone know this POS?
ReplyDeleteIt had a great day, nice.
DeleteTrading about 2x book makes it expensive, we want less than book. However, this might be an inaccurate figure given they just raised cash? I wouldn't see how but me I don't understand fancy book keeper magic.
DeletePIR - I see this in AH and wonder why the FED raised rates.
ReplyDeleteProbably another retailer losing market share to AMZN and others. Lot of Christmas shopping going on around my place this year - maybe more than in the stores.
DeleteSolid report for FDX
ReplyDeleteWow, that was a nice set-up as well. Good job.
DeleteBullish article on BXE on seekingalpha:
ReplyDeletehttp://seekingalpha.com/article/3760976-bellatrix-exploration-buy-the-drop
Problem is, all these commodity companies have no pricing power, so hard to justify jumping in until we see oil bottom out. Maybe the new law allowing US oil exports will be the catalyst, but who knows.
I have a GS report from MOG. I can't find your email address. Shot it to me.
DeleteForget it. I found it. Email sent.
DeleteI don't need to read the article but wonder if he's talking about the drop from $10 to 8 or the drop from 7 to 6 or maybe the one from 5 to 4? 3,2,1 -> $0
DeleteWhat now?
ReplyDeleteI think the odds of new highs between now the the first week of January are pretty good. But a steep correction (you might call it a proper 'sell the news' reaction to today's rate hike, currently 'detained' by positive seasonality) is likely to follow. If we remove the 'algo' effect, the correction may even begin this week. Either way, I wouldn't bother chasing the current rally.
That Sun is heating up my room. :)
ReplyDeleteAll of my KCLI holdings have been taken out of my accounts this morning (you can still see the shares, but they are not available to sell). Hopefully that means we get the cash quickly.
ReplyDeleteSounds like it will, else the shares wouldn't be gone.
DeleteASYS - Even this one lifted with solar.
ReplyDeleteSell on oil:
ReplyDeleteRUHLE: We have been tracking volatile oil prices including recent lows for the year in crude. But one man's crude is another's treasure. Investor Sam Zell maybe loading up on distressed energy assets and Jason Kelly is with us too.
Sam, let's talk energy, distressed energy. First of all, do you think prices are low enough, and if you do, where specifically are you buying?
ZELL: Well, first of all, again, it's not so much prices as it is specific opportunities. In other words, obviously prices are down. But what makes the opportunity is the distress of the situation.
RUHLE: Like what? Where?
ZELL: Well, you know, we're investing in the Piceance in Colorado. We're investing in the Permian Basin. We're responding to the difficulties that other people are having. I mean in the last few months all the banks have redone their reserve reports. And all the numbers of availability of cash in the energy space are way down. So there's a lot of pressure.
Currently like in real estate in '09 the energy lenders are playing pretend and extend. And they're going like this and don't tell me how bad it is. But the reality is, that's going to move forward and continue to cause upheaval in the energy space and that kind of upheaval adjusts and creates opportunity in pricing.
http://globaleconomicanalysis.blogspot.com/2015/12/sam-zell-warns-recession-coming.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29
I always liked this concept.
DeleteSo it's the same kind of creating a competitive advantage by virtue of your entry price.
From Zell
"ZELL: Yeah, I think that I'm probably more focused on gas than oil. And it's, you know, it's a little bit like real estate. I mean we made a fortune because we bought real estate at a discount to replacement cost. Well we're buying gas in the ground, gas that's been drilled. People have spent $10 million a well, we're buying wells at dramatically less than that. So it's the same kind of creating a competitive advantage by virtue of your entry price."
Zell on oil, not sell on oil at the top entry. damm man
DeleteSo we all pitch in a buy a well?
DeleteEverything we know doesn't count for shit?
DeleteCLR keeps drawing my attention.
DeleteLooks good on RSI as well.
DeleteHa,ha,ha, sell Zell.... Good one. :)
DeleteNow now, it does seem like that at times.
DeleteKMI, the gift that keeps on giving.
Mark, use to know a guy in Hawaii, who inherited about 30 of those old wells that you see around. He had a nice carefree life.
CLR, why?
DeleteFANG. a real stock
AR, interesting, not yet
I cashed in the FDX at the open. Tough to pass on a near 10% two day move in a big cap stock like that.
ReplyDeleteHopefully TA has bottomed as well. That thing is so cheap in my opinion. They're transforming into a more convenience store reliant company which is much more stable (just look at CASY's earnings over the past 10 years).
ReplyDeleteOther that BITA, what are you trading?
DeleteBAC / FDX / BITA / TA
DeleteOh and I have a tiny position in KTHN.
DeleteJONE - I can only imagine the debt must be blowing apart.
ReplyDeleteXOP new low.
DeleteJONE debt to equity is 5x, I believe.... This qualifies as a debt crisis I'd think.
DeleteIt's a new era.
ReplyDeleteGLD (gold) and USO (crude oil futures) printing new 52-wk lows. Miners (which rallied +4.38% yesterday) are off -4.76%. Opened a small position in NEM (Newmont Mining) on this morning's -8% decline.
Had a bid in for NEM yesterday at 17.27, just could not figure out why it did not sell off then.
DeleteGL
Remember this one, PACB, think you 1st brought it up.
DeleteI traded PACB a month or so ago. Sold it at $9.30 unfortunately.
DeleteCMG - Does this look expensive?
ReplyDeleteFreddy Mac - "30 year rate will tick up only slightly"
I'm assuming this is due to runaway employment.
I think we need to be prepared for a market that trades in a 20-30% range for a long period of time.
ReplyDelete1800-2300 maybe.
DeleteBlame it on a 14 year old! "The Toys R Us CPO — that's chief play officer — is getting ready to retire … at the advanced age of 14."
ReplyDeleteMAT - We're having Christmas this year.
ReplyDeleteTA - Pretty good choice IMO, good job.
ReplyDeleteI'm not up that much. Bought at $10.2 and again at $9.6.
DeleteWell good luck anyway.
DeleteKCLI - Lets do that again! :)
ReplyDeleteWho cares if refinery jobs are exported, it's all good.
ReplyDeleteKCLI - What the heck is going on?
ReplyDeleteWOW! WTF?
DeleteIt's been de-risked?
DeleteAdded to QQQ.
ReplyDeleteThe DJIA closed down -253 points. I added some long exposure at the close, mainly miners + Emerging Markets.
ReplyDeleteWell played sir, well played
DeleteKCLI is now just trading for the large shareholders. We get the $52.50 per share, so that is no longer supporting the price and doesn't affect us. Pretty much back down to where it was before the announcement.
ReplyDeleteAll of my KCLI holdings have been taken out of my accounts this morning (you can still see the shares, but they are not available to sell).
Notice of delisting.
DeleteGreat trade, BB.
DeleteWhat beverage does one chose for bear-gnawed salmon?
ReplyDeletePepto-Bismol.
DeleteKCLI is now just trading for the large shareholders. We get the $52.50 per share, so that is no longer supporting the price and doesn't affect us. Pretty much back down to where it was before the announcement.
ReplyDeleteAll of my KCLI holdings have been taken out of my accounts this morning (you can still see the shares, but they are not available to sell).