I was rightfully slapped with a burst of gold karma this afternoon. Yesterday's -2.6% decline had me pondering a position in RYPMX at the close, but I elected to remain on the sidelines. And not just quietly sitting, but dissing the black and silver. So I'll take the slap. Let's be clear, however:
(a) I had no reason whatsoever to go long gold/miners yesterday.
(b) The +6% move in RPYMX irks like a slow driver who speeds up in time to make the yellow, leaving me behind. But that's all it is, a rally that left me on the sidelines. A lost opportunity, but no losses.
(c) Today's +7% moves in GDX and GDXJ still leaves both about -40% YTD.
Enjoy the rally, David!
CAKE - Somehow I doubt we can munch on this one at just $5 for a very long time.
ReplyDeleteTCK was upgraded ya know, PO is $40
Sorry, CAKE PO is $40
DeleteTCK PO is $43
Strange day in the market today -- what caused the PM miners to rally so hard when gold/silver were basically flat? Maybe it was the fact that I loaded up on AUMN calls yesterday? Or maybe the fact that my wife gave birth to a baby girl this morning? :)
ReplyDeleteCongratulations David, WOW! ;)
DeleteYeah, congrats David! Enjoy!
DeleteI had a little more cash remaining from selling out my GMO position on Monday, and so I just placed a buy limit order for 10K shares of PNPFF at $0.4. Hopefully, the miners pull back tomorrow and my order gets triggered...
ReplyDeleteMKSI - "MKS Instruments: Strong results and revenue guidance as semi improves
ReplyDelete4/24/2013 11:29 PM
MKSI reported strong results and revenue guidance as semi fundamentals improve. Expect further details on revenue breakdown and margin expectations tomorrow (4/25) on the call at 8:30AM ET."
TA - Another good day.
ReplyDeleteRES - BB - You're quiet as a mouse there guy....
ReplyDeleteEnjoy David! !!
ReplyDeleteDavid- I'm pretty sure it was the birth of your new daughter that caused the miners to rally. I'm a fan of the metaphysical/cosmic perspective on things like that.
ReplyDeletePMT prices $200mm of notes, at a 25% premium over today's close. Not sure whether that's positive or negative but at least it doesn't appear someone's getting something for nothing.
ReplyDeleteBeen helping my daughter pass her Economics exam the last few days. She's taking business and really wants to just do sales, but needs Economics to graduate and hates it with a passion - having to dig deep to recall some of this stuff!
ReplyDeleteI'm still trying to get my hands around staying abreast of current events, a 5th grade subject. ;)
DeleteI do not blame her in her disgust. It is still the dismal "science". Never more so now when so many of them have failed miserably.
ReplyDeleteCongratulations David!!!
ReplyDeleteno trades today. Didn't get my AAPL. I don't see anything of interest for tomorrow at the moment either.
ReplyDeleteI just looked at my account and I see I did do a trade today. This is what happens when you have so many little positions on. Actually, I had someone at my desk for over 2 hours today starting 30 min before the market opened or I would have looked closer at my stuff.
ReplyDeleteOn the 16th I bot shares of BYD and MRIN using Stewart's buy alerts. Since I don't know his rules of engagement, I more or less use what I got from Landry on setting stops and setting a price target for half of my position.
I'm down about $100 on MRIN but BYD traded up today and my first sell target was $9.63 which executed 5 min after the market opened. I would say it's still better to have the orders in place. I'm going to move the stop on my remaining BYD shares to $9.63 now. That will give BYD plenty of wiggle room but still leave me with a good profit if it should go the other way. wooohooo.
Papa's got a brand new toy.
ReplyDeleteWay to go David.
http://www.youtube.com/watch?v=B6Ore48uq-4
I like the notes Stewart makes on his public charts.
ReplyDeleteOne of his charts is HIMX which sounds interesting. I don't know if he's long the stock but per the "above the green line" rules, this stock would be a buy today on 2 out of 3 criteria. The criteria that's missing is the SCTR value on stockcharts. There isn't one for HIMX.
It seems like "above the green line" specializes more in short term pops, say 1 to 5 day trades. It looks like the stops are moved up even if the stock doesn't pop much since the entry rules focus on the Slow stoch.
Internet sales tax ought to boost retailers like JCP. RTH may have already anticipated this?
ReplyDeleteI honestly doubt it will make any difference.
DeleteI'll go with that, you're probably right.
DeleteVMW/BIDU - What happens to these if internet taxation passes, VMW is a customer of Ebay, not sure how BIDU would be impacted.
ReplyDeleteD - Stagnant profits due to service interruptions and storm repairs.
ReplyDeleteSay what, these guys didn't get a break on cheap fuel costs?
CBD - This one might come to us, Brazilian grocery and appliance.
ReplyDeleteSNBC - seem to be turning the corner with a small quarterly profit versus an expected loss. Have been taking big losses as they've cleaned up the balance sheet the last few q's. Has hurt Book Value, but hopefully the start of a new trend and earnings grow from here.
ReplyDeleteSure feels like last week was the bottom of the current correction and we are ready to start trending up again. A lot of people got pretty negative, but earnings seem to be coming in good and with the potential for unemployment to start dropping, markets seem ready to head up, unless we get some sort of external shock.
ReplyDeleteGASS - One hell of a lot of volume
ReplyDeleteLooks like their financing is a go at $10.
DeleteCould be a good buy at way under book value, 6 p/e, and you've got Wilbur Ross trying to rollup the LPG market.
BB- Where do you get your financial data?
DeleteVMW- I like their products for PC's. Do we how if they are involved in the tablet/app space?
ReplyDeleteYes, not sure of PC products, thought this was virtual server stuff, but about a month or more ago they introduced a product that separates corporate from personal activity for portable devices.
DeleteI know you won't believe this but I bought NOK at $3.24 right before I went on a walk with my son this morning. My thinking is it will fill the gap, pause, and then run to $5. I'm going to re-read the earnings release and comments to get a sense for how much upside there is here, but my sense is it has a lot more to go.
ReplyDeleteBIDU earnings after the close. Oh boy.
ReplyDeleteYeah, and I'm long (GULP!).
Deletewhat's your cost basis?
DeleteMy entry was $87.29, haven't touched or traded it, just been watching it go up and down. Not an overly huge position but meaningful.
DeleteWhat do you think you're going to do? I'm just a huge fan of the business model and the stock looks cheap. I mentioned it before but I think they and Google have the widest moats out of any company.
DeleteI intend on holding what I've got into the low hundreds, will have to trade my way around any earnings disappointment should that occur, such as adding into a gap down island reversal.
DeleteBroker objective is $125, it could move even higher, maybe....
If BIDU moves to $150's, I guess the horse gets a new barn. ;)
DeleteMEOH - BANG!
ReplyDeleteSo a couple of months I mentioned a stock that I was contemplating going all in on the long side with because it had a huge yield and was in the nat gas servicing business. The yield at that time was around 10%. I was doing the match on it and figured between that dividend and the income I get from my business I would be able to cover all costs. I decided to pass on it because I thought YRCW had more upside and the income wouldn't allow for enough wiggle room in case we wanted to get a bigger place to rent or if we wanted to buy a house we wouldn't have enough to put down as a down payment.
ReplyDeleteAnyway, the stock was GSJK. It was at $19 at the time. The business is a really solid business, providing wellhead compression to nat gas and oil wells. Their earnings have been growing steadily and only recently have been ramping up. Its a limited partnership and they projected a big bump up in earnings in the near future, most likely due to the increased drilling activity surrounding the shale gas plays.
I see this company becoming a much bigger player over time and I see the dividends growing steadily. It's a really good play on nat gas.
Needs to close over $24 today IMO, else maybe softness for a period. That div will really help support the stock, bubble div hydrant bubble hounds love to piss all over.
DeleteOkay, I don't recall this one but looks good, I can't/don't disagree.
yeah i never mentioned it before only referred to it.
DeleteBAS - I assume earnings were acceptable.
ReplyDeleteOkay, so where's the daily bear attack? I know it's coming.....
ReplyDeleteCCL - BB did a great job of catching this one, and he doesn't attempt timing the market!
ReplyDeleteMark,
ReplyDeleteI usually just use Yahoo Finance for company stats and Morningstar for the 10 year histories.
I also can get the S&P and Reuters reports for more details, but usually don't.
For European stocks, I use Reuters and sometimes Bloomberg (Yahoo has lots of problems, even with US listed versions of the stocks).
In general I find most financial data pretty good, but you do have to be diligent and go back to the company filings sometimes.
"Yahoo has lots of problems"
DeleteProbably a corporate culture phenomenon...
PKX - Wow, $73.70... I agree this is a great company but would've expected the market to wait and see how earnings look.
ReplyDeleteOtherwise, what's the point of selling it to new 52wk lows, that makes no sense.
SDS - Stink bid at $42.01
ReplyDeleteGASL - $1/day straight up.... WTF, who the hell was selling this thing and what were they thinking?
ReplyDeleteGPL - Not so long ago, this one was trading under $1.... With four digit precision, no less.
ReplyDeleteHII - Two month bull flag?
ReplyDeleteSPX - A new high might define the right shoulder of an inverse H&S... We need a new high at this point, I expect.
ReplyDeleteMBI chugging. Going back to $13 and then some.
ReplyDeleteLooks like a perfect H&S, I know how crazy this sounds...
DeleteHeads up - all education stocks look like a major buy. CECO, COCO, APOL, EDMC...
ReplyDeleteI mentioned this before but its worth repeating:
Delete""Highlights
Consumer credit is surging but outside of student loans, it looks flat. Consumer credit jumped $18.1 billion in February for the largest increase in nearly 13 years and following a revised $12.7 billion in January.
But gains continue to be confined almost entirely to non-revolving credit, in part reflecting strong vehicle sales but largely reflecting a continuing surge in student loans."
GASS, bought some for lay-away, if they dilute again in the future I may reconsider.
ReplyDeletePAL, bought some for spec trade. PA has not rallied like gold so perhaps a ketchup trade.
Where's the bun?
Adding LNG ships sounds like a really productive use of capital to me. Won't be long before the bubble hounds rush in to pee all over it, probably about the time GASS begins paying a dividend.
DeleteTOF, you still like SNFCA? TIA
ReplyDeleteNo I would steer clear. The comments on the last quarterly report were total amateur hour. I believe there were several comments about shorts and what not. Friggin joke.
DeleteThanks off the list.
DeleteD - P/E is 107, forward P/E is 17
ReplyDeleteHow the heck can this happen to an anchored slug like a power company? Man, am I clueless.....
SDS could be a good play today, since we didn't get our higher high. My bid was too low, unfortunately, so I canceled it. Maybe we get a new higher high tomorrow and I can try again.
ReplyDeleteCould it be, this new higher high to form an inverse H&S right shoulder and SDS entry (for a flip) coincides with gold stalling out around $1525?
KWK - One thing you can count on, is anything to do with natty is gonna be one volatile mo-fo....
ReplyDeleteLong CECO at $2.29.
ReplyDeleteLong COCO at $2.07 as well. Small positions, just want to play a potential reversal. EDMC looks awesome.
DeleteBIDU - 30 minutes till this one breaks out.
ReplyDeleteGASL - Oh man, what a surprise! Sure am glad you guys weren't chasing this one today.......
or breaks down! good luck.
DeleteYeah good luck, red or black?
DeleteHey, I didn't say which way it was gonna break out, I fully expect it falls through it's ass hole and breaks it's frickin' neck......
DeleteIsn't that how life in the stock market always works for the ignorant little guy like me?
But hey, maybe it works out at least as good as my 10 shares of YHOO bought years ago, still 7% underwater.
DeleteInteresting how the parents of the Boston bombers can't understand why one of their sons were shot and killed and the other was almost killed.
ReplyDeleteGASL - Okay, so why is this one still green, who do they think they're fooling?
ReplyDelete