I really wanted to buy two stocks today, but couldn’t pull the trigger for a variety of reasons. I will give you one of them: KWK. Natural gas stocks caught fire today and this stock has been abused. I’m not done doing research on it, but have warmed to the idea that equity holders sold the stock down too far. The bonds are behaving nicely, with senior unsecured paper trading ABOVE par. Compare that to the JRCC paper and you have a night and day difference.
This is a distressed stock and anything can happen. The company needs to recapitalize and raise funds through asset sales, just like CWEI. The eye opening divergence between the bonds and the stock is noteworthy.
The other stock is still on hold until I can do more research.
For the day, I edged up by 0.5%, fully retarded leveraged to the upside. I have a bunch of positions up double digits, old man stocks that I’ve been holding for awhile. Names like PEP, CHD, WM, RS, and KMB have served me well.
I was thinking about shorting more AG and JCP today. But my liquidity was too low to make a meaningful contribution. Frankly, I don’t feel like selling any of my positions just yet. And, at the same time, have become slightly alarmed by the low quality nature of this rally. The very worst stocks in the world are rallying, always a prerequisite for a calamitous drop.
Nevertheless, I insist we will drift higher until 4/15, at which time “The Fly” will liquidate the lion share of this positions to protect his bountiful gains.
http://www.youtube.com/watch?v=qtFBRJFN3p8
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Liquidating your Japanese positions before 4/15?
meant to add “also liquidating”
At the moment, I only own a small amount of MTU. The Japanese thesis is long term, but I have hardly any exposure now.
The Fly is God.
Fly says:
“”I really wanted to buy two stocks today, but couldn’t pull the trigger for a variety of reasons. I will give you one of them: KWK.””
Dr. Fly, just wondering if this will help you out any? 😀 http://tinyurl.com/brjalrk
funny
…gotta check the ‘highly technical’ stuff first 😀
As stated as far back as 2009, the rally ends May 2013
Solid Annie reference here, by the way
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