I’m talkin’ LLNW, PCX, SD, TUES, AONE and JST flying off the shelves. It’s as if investors are spending all of their CLAMbux on stocks, in order to support their heavy cocaine addictions. Just to give you a personal update (as if you needed it, duh!), I am still heavily biased long, after a month and change of TZAing about the hallways. My core positions are trash. They are idiot stocks with zero purpose in life.
As for the important subject of FTK:
Full disclosure here: I own a few million shares and would be remiss to tell you that I didn’t hate the stock, deep down. I purchased it during the peak of the credit crisis, with the hope that they, like everyone else, would explode to the upside. Needless to say, it was a terrible pick and was a drag on 2009 performance. Good thing for me, everything else ripped 200%, so my performance was unscathed (+90%). Year to date, the stock is up more than 30%. So, ironically, it’s helping me deal with this VXX blackhole situation I have going on here.
Bottom line: the company made a retarded acquisition in 2008, buying a company named Teledrift for 95 mill. To finance this deal, they issued 115mill in 5.25%, 2028, convertible bonds, which can be put back to the company in 2013. Uh, oh, WOWZERS! Essentially, the company has about 1 year to produce “Clambux” in order to avoid default. They have been growing and will likely need to sell off a few divisions, in order to refinance their debt. They need to roll it over. However, thus far, it is unclear how flexible the bond holders are, looking at FTK’s 150+mill in assets.
Should they be able to rectify their debt and start generating positive cash flow again, the stock could trade $10. There are many reasons to believe revenue will continue to grow, considering the fact that many, many natty leases are expiring soon. In order to keep said leases alive, drilling companies will drill, just to drill. This helps FTK in the near term. However, longer term, they will likely see a reduction in domestic drilling revenues, as those leases expire. Perhaps the FTK’s new international initiative will make up the difference. Who knows?
As for my other positions: HEAT, MWW, MERU, FUQI, C, TEVA, FEED, FLWS, CHGS, CDII, short AEM, short SPG etc, up 1.1% for the day, so far.
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One man’s garbage is another mans treasure. In this case Ragin’s.
I forgot what it is like to be, as you say, “up for the day”
Only 4 more trading days left in this month. Dear Mr. Le Fly, could I beg you for another of your entertaining animations.
To discuss what Samsonite Hamburglar thinks of QE2?
Indeud.
Why not dump that VXX before it goes to zero?
Which one, VXX or FTK?
lol
VXX? It got no long-term upside.
FTK, why don’t you just buy the whole fucking company? You’re 1/25th of the way there.
Then it will join the likes of the TIPS which went to a negative yield today. How close shaved is that clam?
Why bother … we’re almost at the top for this move (1221) then VXX will pay off
Silly. There are no ceilings in Clamworld.
Ah yes … QE2
or seawater …
how so bro? VXX has dropped in half more than once, but never doubled.
Sounds like a riddle, “what can fall to half its size but never rise to twice its size?” VXX (or my dick.)
wrap a warm clam around that situation if you want a rise
but seriously, after the completion of intermediate wave3 at 1221 we will have a good correction (Int wave4) which should act as Cialis to your DIXX problem…
VIXX
Something giving away in the free money HRBN arb play?
Fly, so no pull back in the near future?
How many CLAMbux does it take to buy one chili infused lemonade at Whole Foods?
Not as much as mikes hard lemonade!
That will power you into tomorrow!
Market has been in a 20 pt range since they turned off the Goldman algo-bots at 11:00 am….hold it steady so that the monkeys can manipulate the overnight futures to Goldman’s liking for tomorrow’s 90 mintues of algo trading….then rinse and repeat.
The POMOranians have arrived. Prepare for liftoff. And give a couple of iron ingots. Thanks. That is all.
Still consider myself a newbie here and don’t understand the message of a rather static PPT market hybrid score of 291. Does this indicate history telling us tomorrow may be a positive market or at least no a downer? Keep buying momentum stocks? Any comments appreciated.
Under the standard interpretation of the PPT hybrid score, the only signals that count are the OB and OS signals. Everything in between is noise. There are alternate interpretations, which can be found in the forum. Ask a question in forum and we can provide more detail or point you to the proper posts.
Bought some HRBN under 20. Seems like it went down on a smear piece written on seeking alpha.
yea just revealed who you are if you own over a million shares its public info
Kinz
I own it over many accounts, not a fund. Therefore, i do not file.
Natty gas price will continue to suck. Be cautious. That’s part of the reason a lot of leases will actually expire. They were bought when natty was $7-9, and now they can’t drill a lot of those wells. Sunk costs. A lot of them will walk away from marginal properties. Though some folks are still bullish on natural gas for some strange reason.
Here’s a couple…….
It’s the only fuel we have which can be internally produced in quantities that actually meet demand. Liquid fuels……not so much.
There are a lot of old to ancient power plants that are coal fired,…….. think cap and trade/green movement/EPA permit renewals,global warming/carbon credits. And such,……….now tell me what they will be converted to.
T. Boone Pickens is not stupid nor is he getting senile in his old age. He has placed a lot of “bets” on the future of Natty as a viable fuel for motor vehicles.
I’m just sayin’……….add those factors up and tell where natty is in 18 months/3 years/5 years
LNG will process that excess – as Fly says, they must drill or lose the rights to some good properties as well