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Had lunch with my oil GB.  He's bearish and thinks could see new lows coming into the elections.  As low as $18.

 
culdeus said:
Had lunch with my oil GB.  He's bearish and thinks could see new lows coming into the elections.  As low as $18.
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No chance. We're down 1MBPD here and that isn't reversing anytime soon. Non-OPEC producers around the world are down another 500k BPD. 

This doesn't see the low 30's yet alone the teens.

At $38 I'm buying a June futures contract, every dollar it falls from there, I'll add a contract.

 
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Due to a merger I have some choices for my 401k. I don't particularly like the company that manages it so I have an opportunity to rollver what i have so far into a new account. Obviously the new money I put in will be with the same group, but at least what I have right now I can move. 

Anybody here have experience with rolling over into a personal account? 

 
I think if you wanted a chance to get into one of the better oil plays, XOM is probably at a decent discount for a limited time only.

Good dividend, balance sheet.  Long play of course and a safe one (relative to the rest).

 
parasaurolophus said:
Due to a merger I have some choices for my 401k. I don't particularly like the company that manages it so I have an opportunity to rollver what i have so far into a new account. Obviously the new money I put in will be with the same group, but at least what I have right now I can move. 

Anybody here have experience with rolling over into a personal account? 
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Roll to a Vanguard or Fidelity IRA.

 
What's going on with NEO, guys?

wish I'd waited couple of days to buy in...

MZOR beat estimates...what a company. Gonna make me very happy in the long run 

 
Nice little move in my old friend BioSyent today.  

Also, cobalt prices are rising.  Formation Metals not a bad little speculative add for those who dabble in penny stocks and like to gamble.  Crappy little exploration company that won't pull any cobalt out of the ground anytime soon, but the property is permitted, in a friendly state for mining and its only a matter of time before somebody takes them out at higher prices.  IMO.  Really not many equity options for playing cobalt.  

 
Todem said:
Starting nibbling in again. 20% upside over next 8-12 months. Take that all day. Right now...no catalyst. But you can collect a (growing) 2.5% yield at this level while you wait.

AGN and GILD as well. Huge value. The bio-pharma sector is a huge value and a great long term play at these levels IMO (best in class names like GILD, AGN, BIIB ABBV, AMGN). They have not participated at all in the March April rally. Average in....summer will be crazy volatility and after the election I expect the sector to take off long term again.

Energy....I actually got out of many names even...and some at a small loss after the recent rally (was time to just wave the flag and find better value). Stayed in the big ones like CVX and XOM as well as OXY and still waiting for COP to recover more.  Oil will come back around...but it is taking time. Short term....more volatility indeed.
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This trade/investment is coming too fruition a lot quicker than I thought.

I bought ABBV earlier than this date though....back on March 1st at $56 today it is $66.75 (+16%)

AGN - Bought at $223 today $251 (+11.5%)

BIIB - Bought initial at $262 averaged down on Brexit to $240 and today (and rumored take over from MRK or AGN) $332 (+38%)

AMGN - Bought it at $152 today it is at  $174 (+12.5%)

GILD is the only loser of the bunch (and a great cash flush balance sheet company with a growing dividend too boot while we wait) $ 82.70 cost basis today it is at $79.72 (-3.6%)

This was a huge disconnect back then and political rhetoric panic sell off. A great sector left behind till now.  A perfect example of seeing the forest through the trees, blocking out the noise and looking at the fundamentals of the business. 

BIIB is going crazy today LOL......love this. I think whomever buys them will have to pony up at least $370 a share IMO. That is another 12% from here. We shall see. I have a $380 target on it to begin with. Robust pipeline, great guidance and cash flows.

 
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I love TSLA.

Possibly my favorite company ever. They just can't lose. Auto industry getting crushed, so what? Missed numbers, meh? Missed revenue, who cares? Missed deliveries, no worries... 

If this was 99.999% of companies, this would be down 20% right now. Watch Musk do what he does, discuss unrealistic and impossible goals and this will hold up. It is the closest thing to reality TV on the market.

 
The Big Guy said:
Thank goodness for that dividend.  Has been saving my ### on this one.
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Easy money when its hovering between 6.5-7.5% quarterly. Each dividend date this year stayed near the 7.5+% rate so that is good money. Too bad I don't have much in it but its turning into an easy ~$400 for me this year alone.

 
Aaron Rudnicki said:
nice day for TWTR
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A rumor was floated that Ballmer and Prince Al-Waleed, the 3rd- and 4th-largest shareholders, were interested in a majority position. It was quickly shot down by CNBC, because they got burned the day before on a BIIB rumor. But apparently, hope springs eternal. I'm so far underwater that any reasonable buyout would still not make me whole.  :kicksrock:

 
fantasycurse42 said:
Looks like shorts are scrambling to cover oil shorts, might not be a bad spot to take a run at UWTI for a a trade right now.
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Got taken to church by this ####### thing over the last few weeks. Thought my stop loss set at $17.33 was holding my nose until yesterday morning.  Oof.

Trying to find the right point to get it back.  Could always use your updates here.

 
John Bender said:
Got taken to church by this ####### thing over the last few weeks. Thought my stop loss set at $17.33 was holding my nose until yesterday morning.  Oof.

Trying to find the right point to get it back.  Could always use your updates here.
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I jumped on board around $18.30.... A lot of short interest and the covering looks like it has begun.

Edit: I think today is as good a day as any to make a play here. I never hold these long term though, FYI.

Personally, I thought the report yesterday was ####, however they spin it. I'm not a huge believer in a rally right now, but the market says otherwise. I think after the shorts cover, it could fall again.

 
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Out of UWTI, nice nice 2 hour profit. Think it still runs, but no need to be greedy when the oil pit close at 230 is the most unpredictable thing in the market.

 
Some extreme positioning in oil right now, playing contrarian again and going long. Don't think there is much short interest below $40 and maybe some more covering before the weekend.

 
SGYP :excited:

Been holding this garbage forever... Bought at $3, it went to $10 and change, I bought more at $6 and then it fell to like $2.50... My average is $4.61, 2k shares... Debating just saying goodbye with a small $300 win, was down over $4k earlier the year on this thing. 

@Johnnymac What are you doing with this?

 
I also bought 5 clm17 (June) oil futures on Friday with a price of $46.38. I still think it is possible the pain isn't over, but daytrading leveraged oil ETFs is killing me, can't do it anymore and I think mid 2017 oil will be in the $50's... I could be down $15-$25k on this thing over the coming months, but if I can just fight through the pain, I strongly feel oil will be higher next summer. 

Worst part about trading oil is it never stops. I'm looking at tickers 24 hours a day, such a ####### headache! I do think (hope strongly) that buying this dip is the smart move. Def the contrarian play - oil has record high short interest (just above Jan) and lowest long interest since Feb... What do you see from those dates? I see what was the start of the rally, short is a very very crowded trade on oil right now.

 
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fantasycurse42 said:
SGYP :excited:

Been holding this garbage forever... Bought at $3, it went to $10 and change, I bought more at $6 and then it fell to like $2.50... My average is $4.61, 2k shares... Debating just saying goodbye with a small $300 win, was down over $4k earlier the year on this thing. 

@Johnnymac What are you doing with this?
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I would, at the least, sell all but maybe 500 shares. But I'd probably be very happy with it coming all the way back and get out. 

 
fantasycurse42 said:
Wtf is saex? This is a pump/dump, correct?
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http://stocktwits.com/symbol/SAEX?q=saex

Some good stuff here. I guess some people see a move from $9 to $75 in a day as normal movement on a stock. The pumpers are all gone and now we've got some solid bag holders. I made a very rationale comment last week about oil and someone called me an idiot, then went on to tell me how he was going to make $100k on Saex. I honestly feel bad for this schmuck, prob just lost $30k on a pumpty dumpty. 

 
VTNR

I own some and it's popping today. They report earnings on Thursday. Super small company....not sure what this bump means...

 
Bought LNDMP today - preferred of LMRK, an MLP that leases out celltower locations and such.  7.7% yield.  They currently have about that same yield on the common (and just raised the dividend there), so it looks to be pretty safe.  I have too much cash sitting around, but the markets look frothy.  This locks in a nice yield and likely some capital gains as preferred issues have been going nuts lately (this one has been on the market for only a couple days, so the price has risen too much yet).

 
fantasycurse42 said:
SGYP :excited:

Been holding this garbage forever... Bought at $3, it went to $10 and change, I bought more at $6 and then it fell to like $2.50... My average is $4.61, 2k shares... Debating just saying goodbye with a small $300 win, was down over $4k earlier the year on this thing. 

@Johnnymac What are you doing with this?
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I'm still holding.  Feel the same as you in that Im just tired of this stock.  Its been a long ride and I just cant seem to jump off.

 
Didn't stick to my plan... Offset around close, nice juicy profit, but I think we could retest lows before heading higher. Actually shorted a few contracts on front month to see if we test lows again. Tight stop, I'm out of my short if WTI goes over today's highs of $43.36... Still think a double bottom is in order and some volatility before calling a bottom. 

 
Best quote I read all day:

"Man, when I woke up this morning I was really hoping OPEC would discuss freezing production at 33.5MBPD, that would really bring balance back to the market!

 
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