David Dodds
Administrator
Oil moving this morning on Pakistan conflict. This is looking like it's going to be a nice day to bank DXO and UCO profits.
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My Stock Value Strategy Starts Now (1 Viewer)
- Thread starter David Dodds
- Start date
David Dodds
Administrator
Yes I expect DXO to gradually head higher all the way through August. The last three years (and possibly more, but that's all I looked up), Oil was much higher in July than in April. But like anything there will be good days and bad days. But I believe the overall trend will be up. I won't sell until front end oil at least gets near $51 (It's at 49.65 right now). I still predict we will see $65 oil by the time July hits.
David Dodds
Administrator
Bought 1,000 EXM at 7.01
David Dodds
Administrator
BDI up again
Baltic Supramax 1,396 (+3.41%)
Baltic Handysize 684 (+1.79%)
Baltic Dry 1,897 (+1.50%)
Baltic Capesize 2,539 (+1.52%)
Baltic Panamax 1,743 (-0.17%)
Baltic Supramax 1,396 (+3.41%)
Baltic Handysize 684 (+1.79%)
Baltic Dry 1,897 (+1.50%)
Baltic Capesize 2,539 (+1.52%)
Baltic Panamax 1,743 (-0.17%)
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David Dodds
Administrator
Bought 1,000 PRGN at 3.62
David Dodds
Administrator
Jobless Claims
U.S. Initial Jobless Claims Rose to 640,000 Last Week
By Bob Willis
April 23 (Bloomberg) -- The number of Americans filing first-time applications for unemployment insurance rose last week to 640,000 as forecast, while total benefit rolls reached a record, indicating the labor market continues to deteriorate.
Initial jobless claims increased by 27,000 in the week that ended April 18, from a revised 613,000 the prior week, the Labor Department said today in Washington. The number of people staying on jobless-benefit rolls rose by 93,000 to 6.14 million, the 12th straight week the figure has set a record.
Job losses may continue all year even as the longest recession in the postwar era shows signs of reaching a trough. The release indicates employment cuts may come close to topping 650,000 for a record fifth straight month in April because today’s report covers the week of the monthly payroll survey.
“There is nothing suggesting at this point that payroll declines are going to abate,” said Tom Porcelli, a senior economist at Castlestone Management Ltd. in New York. “We could bounce along the bottom here for a while.”
U.S. Initial Jobless Claims Rose to 640,000 Last Week
By Bob Willis
April 23 (Bloomberg) -- The number of Americans filing first-time applications for unemployment insurance rose last week to 640,000 as forecast, while total benefit rolls reached a record, indicating the labor market continues to deteriorate.
Initial jobless claims increased by 27,000 in the week that ended April 18, from a revised 613,000 the prior week, the Labor Department said today in Washington. The number of people staying on jobless-benefit rolls rose by 93,000 to 6.14 million, the 12th straight week the figure has set a record.
Job losses may continue all year even as the longest recession in the postwar era shows signs of reaching a trough. The release indicates employment cuts may come close to topping 650,000 for a record fifth straight month in April because today’s report covers the week of the monthly payroll survey.
“There is nothing suggesting at this point that payroll declines are going to abate,” said Tom Porcelli, a senior economist at Castlestone Management Ltd. in New York. “We could bounce along the bottom here for a while.”
bostonfred
Footballguy
Are mutual funds still hesitant to go heavy on oil? It doesn't seem like that long ago that there was a lot of talk about how oil speculation was bad for the economy.
In for 1000 at $2.59.
looks like you got a great price.
David Dodds
Administrator
Home Resales Fall
WASHINGTON -- Existing-home sales dropped in March, and the median price was down 12% from a year earlier.
Home resales fell by 3.0% to a 4.57 million annual rate from 4.71 million in February, the National Association of Realtors said Thursday. The NAR originally reported February sales rose 5.1% to 4.72 million.
About 50% of the 4.57 million in March sales were foreclosures and short sales. The large number of these distressed property sales has driven prices lower, year over year. The median price for an existing home last month was $175,200, down 12.4% from $200,100 in March 2008.
Lower prices, combined with historically low borrowing costs, have increased affordability. The average 30-year mortgage rate was 5.00% in March, down from 5.13% in February, Freddie Mac data show. Realtors also hope demand is stirred by the $8,000 tax credit for first-time home buyers included in the Obama administration's economic stimulus package.
A steady decline in price is troubling because it can give pause to would-be buyers, hesitant in hope for a better deal. On a bright note, the median price, on a monthly basis, has climbed two months in a row. It was $168,200 in February, an upward revision from an originally reported $165,400.
WASHINGTON -- Existing-home sales dropped in March, and the median price was down 12% from a year earlier.
Home resales fell by 3.0% to a 4.57 million annual rate from 4.71 million in February, the National Association of Realtors said Thursday. The NAR originally reported February sales rose 5.1% to 4.72 million.
About 50% of the 4.57 million in March sales were foreclosures and short sales. The large number of these distressed property sales has driven prices lower, year over year. The median price for an existing home last month was $175,200, down 12.4% from $200,100 in March 2008.
Lower prices, combined with historically low borrowing costs, have increased affordability. The average 30-year mortgage rate was 5.00% in March, down from 5.13% in February, Freddie Mac data show. Realtors also hope demand is stirred by the $8,000 tax credit for first-time home buyers included in the Obama administration's economic stimulus package.
A steady decline in price is troubling because it can give pause to would-be buyers, hesitant in hope for a better deal. On a bright note, the median price, on a monthly basis, has climbed two months in a row. It was $168,200 in February, an upward revision from an originally reported $165,400.
David Dodds
Administrator
I think the market is headed down on the economy news (jobs + housing resales). I may try and position myself out of oil so that I can better scoop up bargains over the next few days
lol...make that $3.59
Mose
Footballguy
I'm holding my oil stuff for now.
David Dodds
Administrator
sold 10,000 DXO at 2.62
Bought 2,000 PRGN at 3.51
Bought 2,000 PRGN at 3.51
David Dodds
Administrator
Dry Shippers off on economic news. I still expect the NASDAQ to tank big today towards the end. I have put a sell in for my last 15,000 shares of DXO at 2.62 for today. Not sure if I will get it as the price has been fluctuation from 2.56 to 2.62, but seems stuck on the low end right now. I will buy more DXO at 2.52 and lower. Watching PRGN, ESEA, EXM and FREE right now.
David, what are your thoughts on OCNF? Any particular reason you are avoiding this shipper?
David Dodds
Administrator
I don't think it's a well run company at all:OceanFreight Inc. (OCNF: News ) reported a fourth quarter net loss of $11.6 million or $0.65 per share, compared to net income of $6.4 million or $0.44 per share in the prior year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.34 per share. Analysts' estimates typically exclude special items.
Gross revenue for the quarter rose to $38.9 million from $23.2 million in the last year quarter.
((((((( My Take ))))))) - So despite more revenue, they lost a ton of money. They may make money as a stock play, but only if they get bought out in my opinion. But their fleet of ships is quite old so personally I just see this company disappearing (with no buyers even interested in their ships) if they continue to bleed money.
David Dodds
Administrator
Added 4,000 FREE at 1.33
The Z Machine
Footballguy
I may have to cash out a portion of my portfolio in order to pay for the FIFA World Cup tickets that I just bought.
David Dodds
Administrator
and out of DXO at 2.62.
Nice little profit of 6 cents a share x 25,000 shares = $1500 - 24 commissions
Nice little profit of 6 cents a share x 25,000 shares = $1500 - 24 commissions
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David Dodds
Administrator
added 3,000 FEED at 3.92
My limit sale of $2.63 just missed while I was out at lunch.
David Dodds
Administrator
Sold 4,000 UCO at $7.34 for a small gain of $240 - 18 = $222
Mr. Pickles
Footballguy
It's there now.My limit sale of $2.63 just missed while I was out at lunch.
Yay, just tripped. Out 5,000 shares = $239.65 profit.Probably on it's way back to $3 now.It's there now.My limit sale of $2.63 just missed while I was out at lunch.
David Dodds
Administrator
I just added another 3,000 at $3.86 here
David Dodds
Administrator
Added 6,000 shares of FREE at 1.29. I have a 10,000 share order in for 1.27
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David Dodds
Administrator
Why so quiet for everyone today? This should be the pullback you all wanted to jump in. I love FEED, FREE, PRGN, EXM at these levels. And I still think DXO is cheap too (at or below 2.60). The Dry Shippers will pop back, probably tomorrow or in the after-hours trading. The BDI is up 9 straight days:
1463 on April 8th to 1897 on April 23rd
1463 on April 8th to 1897 on April 23rd
David Dodds
Administrator
Added 1,000 shares of EXM at 6.87
Mystery Achiever
Footballguy
Have a positive factor for you from the CEO of POT. He said today that the big crisis not being focused on is the global food crisis and that it will result in increased grain prices. This would seem to also impact hog prices.
Mr. Pickles
Footballguy
Filled part of my limit for FREE @ $1.27. In for 800 shares currently. More pending if it drops.
analog_hiss
Footballguy
Wife returned from out of town today and she's "working" from home while the kids are in school...
Everything I've got is holding within a few cents, except for FREE and that's just 500 shares.Just waiting for a cheaper entry point for FEED...plus I've done a little more research on other securities.
David Dodds
Administrator
My 10,000 must have been behind you in the queue as I did not get any at that price.
analog_hiss
Footballguy
Please remember that FEED was a grain company first and just got into hogs last year.Double plus.
Mr. Pickles
Footballguy
It filled in two increments: 700 and 100 shares, both triggered at 15:19:41 EDT.
David Dodds
Administrator
I believe you. This isn't the first time that Wells Fargo has managed to shaft me on stuff.
David Dodds
Administrator
I guess time will tell if this was smart, but I completely changed my portfolio (from all oil) to Dry Shippers and FEED and no oil all in 1 day. Very active day for me. Hopefully this positions me well for Friday or Monday.
analog_hiss
Footballguy
There have been some gaps of 2-3 cents between the buy and sell orders of FREE today.
Mystery Achiever
Footballguy
Just read your technical analysis from yesterday. Nice job!
analog_hiss
Footballguy
The MACD hasn't crossed and the RSI is now below 70.Notice the candle in yellow...the bids and asks are ranging between 3.77 and about 4.15...FEED ain't going south just yet, probably profit takers today.
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None_More_Black
Footballguy
Nice close for oil.
Mystery Achiever
Footballguy
The topping tail from yesterday was a clue for today, also. Looks pretty reliable for FEED on that chart.
