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Nice to see "Early" and "Fast",
some of the veterans, here.
I made a few good trades this year,
but (alas!) now sitting on one that crashed
after nice earnings,
waiting for it to recover,
letting my losses run,
"while the wheels of fate
slowly grind my life away".
Hope springs eternal.
YHOO breach has turned into quite a mess.
Sorry to hear you took a hit MiamiGent.
I need to beef up the defenses here too.
So far avoided 2-step authentication,
because it's an extra step!
However, I've used it on brokerage for a long time:
hardware security token generates a number cryptographically,
displays it on a small LCD,
and you enter that as the 2nd step.
http://gizmodo.com/its-time-to-enable-two-step-authentication-on-everythin-1646242605
PBYI: nice notice!
63.61(+4.71) today.
Well, not today.
Holding DWTI from much higher.
April WTI printing sub-36 now.
Let's see lower!
Good to see the Apr WTI futures sub-37 midday today.
Want to see this weakness continue - perhaps low 30s.
SDRL: almost cried watching that run-up,
since a friend and I had recently discussed it
when it was 1.85.
Still watching.
CFTC Commitment of Traders Report.
Only learned of this recently.
Supposedly reports producer/consumer contracts
separately from hedge fund positions,
so that would seem to be valuable information.
Some digging is required.
I see 3 sections for light sweet crude:
a) CRUDE OIL, LIGHT SWEET-WTI - ICE FUTURES EUROPE
b) CRUDE OIL, LIGHT SWEET - NEW YORK MERCANTILE EXCHANGE
c) WTI CRUDE OIL CALENDAR SWAP - NEW YORK MERCANTILE EXCHANGE
Article I just linked says that in CoT report,
"hedge funds reduced their short positions in crude oil futures and options by 10,169 contracts for the week ending March 1, 2016", but elsewhere I read that producer/consumer futures participants still bearish.
Interpretation welcome.
http://www.cftc.gov/dea/futures/petroleum_lf.htm
Interesting article.
http://marketrealist.com/2016/03/crude-oil-prices-rise-37-since-lows-february/
Story and fundamentals are complex and global,
but I believed the oversupply fundamentals,
that there would be no OPEC cut consensus,
that the Cushing inventory is bursting,
and also that world economies hardly robust.
Now sitting here on a very underwater
long DWTI position from the high 200s,
hoping there is a reversal.
Proposal to ban leveraged ETFs > 150% leverage.
Anyone know anything more current on this?
http://www.bloomberg.com/news/articles/2015-12-11/leveraged-etfs-face-sec-squeeze-in-plan-to-rein-in-derivatives
Best to you all and Happy New Year!
Nice to hear Ico is okay.
I've been nursing some losses,
and had one big paper gain,
but the Unhappy New Year market
flushed everything - ghastly.
Even the big gain just vaporized.
The words down, precipitous, crushed,
awful, crumpled, rumpled, wrinkled,
bloodletting, vicious, ferocious, savage, fierce, brutal,
and gory come to mind.
China doing quite a job on US markets.
I think the robots must be amplifying all this downturn.
P.S.: Newly, you seem to have a "shovel ready" job
over there to help the jobs market.
Wow on natural gas.
At this rate, they will have to pay people to take it.
Amazing plunge.
Clarification of my misunderstanding of the deal (sale of Maine wind farms assets to Terra Nova Renewable Partners):
Guy on Yahoo! BB, handle wantstoretireearly, posted:
Regarding Terra Nova Renewable Partners acquires wind farm assets for $209 million in equity, whereas enterprise value of the deal is $787 million,
one guy on Yahoo! BB says that SUNE basically is selling these assets at a firesale price, sold for a song, to the partnership,
that, even thought the assets have a value of $787M,
they are being sold for $209M due to SUNE distressed condition.
Anyone have a different take on the wording?
Liking the recent news here,
which is helping the fundamental picture,
and hoping the bottom is in by now.
Questions, as I try to read the tea leaves:
a) How much concern for the considerable debt levels? It appears to be a very big issue, with bankruptcy risk discussed a lot in the press.
b) Are the financial mechanics of the yieldco structure impaired by the dividend levels they (TERP and GLBL) are paying? One article opined that if they could not finance projects at certain favorable rates relative to the market (because of their high payouts), that this would restrict them. Are they beholden to certain payout rates like an MLP, having to pass through most of the profits to the shareholders? I'm confused on this issue regarding how the yieldcos operate.
c) Why would the SUNE management destroy the independence of the TERP board as regarding this recent shakeup? This seems to break the business model. Also trying to understand this issue better.
So many to choose from...
I'm partial to Crete myself, just for size.
Thanks for the good contributions Miami Gent.
Always the gentlemen, good commentaries,
wit, and word play.
Maybe once in awhile, give a shout from your redoubt.
Interview: today (Thursday, Sep 17, 2015
5:00 PM) WBAI-FM NYC, "Behind the News" with Doug Henwood, interview with John K. Galbraith, economist, about the Greek situation since the capitulation to the latest bailout. (Download or listen is good for about 30 days on the archive).
It sounded very grim.
His opinion: the implementation of the bailout is bound to fail,
and seemed to feel Eurozone with unravel. That might mean a return to local currencies - I don't think he meant the EU, the Union itself, would unravel. And I think he opined that the banks would go down.
A few points:
1. Syriza did not betray the people, they capitulated in a power play where they had no other cards to play.
2. German high-level officials (like Schäuble) are completely out of touch the pain of austerity endured by the people (sound familiar?)
3. One pension services official resigned because "he could not countenance reducing the pension of handicapped pensioners to 87 Euros/month".
And so forth.
http://wbai.org/archive.php
Have not been reading thread for a short while.
Any consensus over here about the short term prognosis?
Thanks, GeoPressure.
GeoPressure, interesting POV on SPR.
So, why are we to believe the SPR
has been drawn down to zero,
something more definitive than
opinion of engineer friends?
SPR stated to be 695 million barrels by DOE.
http://www.spr.doe.gov/dir/dir.html
You say it is a bald-faced lie?
I want to know whether crude is going to $20/bbl
or $200/bbl as much as the next person.
And now for some humor.
"The Onion", satire:
http://www.theonion.com/article/everyone-who-started-watching-mad-money-in-2005-no-32346
Excuse my naivete, but what was that 3PM plunge about?
Shorts must be very happy today.
http://finviz.com/map.ashx?t=sec&st=
Hahaha.
Or perhaps closer to Cuba.
Very funny, Dab.
This would make a great political cartoon,
with the Gods up on Mount Olympus,
messing with the mere mortals.
Privatization news.
Edit: I see it's been noted already...
http://finance.yahoo.com/news/greece-eases-limits-money-transfers-093632212--finance.html
Too much tumult for me to follow the developments.
NBG thread here very interesting - thanks.
Some more radical prognosticators, not really financial guys,
but they watch the global scene and have a general sense
of all the dysfunction, think we will see
a global market crash in September.
Arriving early.
Think I'll watch the ugly tired old market open today.
Seems like the Shanghai Index is down hard, -6.15%, yow!
http://money.cnn.com/data/world_markets/se_composite/
P.S.: Wonder how the little people
could follow China's "national team"
in these interventions,
like the investment houses:
Mike, some analyst was quoted
predicting $10 to $20 per barrel crude.