Sunday, January 8, 2017

1/7/17 Welcome to the Hotel California!



After a quiet day touring the shops and galleries of San Jose del Cabo earlier this week, my family and I asked our taxi driver to make a run up to Todos Santos to visit the hotel that inspired the 1976 Eagles song. Not exactly! The drive up 'desert [Highway 19] with the cool wind in our hair' notwithstanding, it turns out that the link between the Hotel California in Todos Santos and the Eagles hit is all myth.

The real story behind the Baja hotel stands well on its own. It was founded by a Chinese immigrant named Mr. Wong in 1947, who lived there with his wife and seven daughters. He added a restaurant and bar, and introduced cold beer to residents by importing ice from La Paz! In the Sixties and Seventies the town began to attract artists and musicians, and today The Lonely Planet describes it as 'one of the most appealing towns in all of Baja, maybe even all of Mexico. A quirky mix of locals, fishers, surfers and New Age spiritualists, the town of ‘All Saints’ has thus far escaped the rampant tourism of the other Cape towns, but still has all kinds of things to see and do.'

16 comments:

  1. NMM is pulling back, so I am preparing to reload the shares I sold at $1.65 last week: placing staggered buy limit orders of equal size at $1.50, $1.45, $1.40.

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    1. The buy limit at $1.50 was filled this morning. Placed a sell limit at $1.65 for this bunch.

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    2. Good luck on the trade David.

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  2. Just bought more HLX at $8.47 and placed a sell limit order on it at $9.5

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  3. Happy New Years fellas!

    Have had a pretty solid start to the year thanks to FCX, TSLA, and SPWR. I bought back into DB and also own some EGY. Some others I'm looking at buying are PENN, SWKS, ETSY, TWNK (bought and sold this but will buy on a dip), BABA on a dip, UA, MEIP, NMM, EMES, GNK, INVE, and OPHT.

    Biotechs have had a helluva start to the year.

    Just hoping this year doesn't fizzle out like it did in 2014.

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  4. Hotel California is Harlans 'walk up song' :)

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  5. Game on!

    The best 'tell' that an index is ready to explode higher? A sharp drop! The DJIA took a nose dive in early trading, down -184 points. That was the 'tell.' Now -69 points.

    Global indexes treading water. EEM (emerging markets) +0.25%. EWZ (Brazil) +1.08% offsetting a -0.27% decline in FXI (China 'H' Shares). RSX (Russia) -0.18%.

    Friday setting up for a run @ 20000.

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  6. Today NMM hit my sell limit at $1.65 for the bunch of shares I purchased at $1.50 on Jan 10. Small position size, nothing exciting. But if this "money pump" keeps working for a few months, then the gains will accumulate. :) Placed a buy limit order for the same small amount at $1.50. Still keeping buy limits at $1.45 and $1.40. If NMM keeps moving up, then my next sell limit is at $1.85 for the bunch of shares I purchased at $1.60 in early December.

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    1. Since BDI seems to be bottoming out here, and since GNK keeps moving up, decided to reload NMM a bit early, at $1.56 just now.

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    2. The buy limit I had at $1.50 was triggered this morning. Placed a sell limit at $1.65 for this bunch, and at $1.70 for the bunch I purchased yesterday at $1.56.

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    3. On a second thought, I removed my sell limit at $1.65 and increased the size of the sell limit at $1.70. The 3-month NMM chart seems to be setting up for a spike, which will probably take it close to $2.00...

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  7. It looks like BTE has pulled back far enough from the $5.50 level where I sold it last (I've been patiently waiting). It is close now to the $3.70-4.30 band that provided support in the past. So I just placed a buy limit order at $4.30 for 1/4 of what was sold at $5.50, and also a buy stop limit order at $4.51/$4.53 to catch it on the way up, if the bottom is in.

    The company operates within its FCF now, and it was even able to pay down some debt last quarter:

    http://www.fool.com/investing/2017/01/17/was-baytex-energy-corps-fantastic-run-in-2016-too.aspx

    Does anyone see any warning signs in its latest corporate presentation?

    http://www.baytexenergy.com/files/pdf/corporate-handouts/January%20Presentation.pdf

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    1. The buy limit at $4.30 was triggered this morning. Cancelled the buy stop at $4.51, and bought more BTE at $4.14. The two purchases this morning reloaded 1/2 of the BTE I sold at $5.50. I think this is a good spot to start reloading...

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  8. Apparently, NMM had to wait until my birthday to break out above its early January highs. :) My sell limit at $1.70 was hit today. What a nice surprise (what a nice surprise)... :)

    Placed a buy limit for NMM at $1.50, but I suspect it won't be hit any time soon, as NMM is on its way to $2. My next sell limit is at $1.85.

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    1. Always a plus when something like that happens on your birthday! Sounds like you had a good 2016, and are off to a good start in 2017. That's how comebacks unfold, one step at a time.

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    2. 2016 was a good year for me indeed: first UGAZ, then oil, then X/FCX. I am back in the game. :) Now I just need to figure out how not to lose everything during the next recession once again. :) That is, I need to switch, just in time, from buying the dips to setting stops and riding the trend.

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