After looking around for some ideas, I find myself too conflicted to start new positions here. With TLT dropping, horrific seasonality ahead for the miners in June, I cannot justify getting long for a quickie now. There are only a few sectors that interest me, one being solar, and it’s too rich to buy up here. The other, believe it or not, is the gold/silver miners. However, if you saw the seasonality stats for some of these names in the month of June, you’d cringe at the prospects of being long one into the teeth of a beatdown.
There are many speculative stocks trending here and maybe I am being too risk-averse again. But I have my gains and a plan to buy REITs, when no one else wants them. I will be there to buy when the last sell ticket is cast.
Until then, I will wait in the shadows, tending to my FRO, hoping IMMR can continue to offset its wilted ways.
NOTE: My cash position is upwards of 45% now.
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now that you have some cash at your disposal…have you thought about WETF at all? I know you liked it earlier but were fully invested…..
Agreed! I can’t find anything I want to add right now, 35% cash.
You should allocate some of that cash to a new car for having such a good year so far…
Captain Fly, are you not concerned about the FRO’s earnings call today, specifically in regards to the over supply of vessels?
This isn’t new news. Actually, I am depending on the oversupply of new vessels to bankrupt FRO’s competitors.
I’ve always said, the stock is either going to $10 or $00.00.
If they cannot turn things around in one year, the company will need to restructure.
Remember, the most bearish commentary always comes near the bottom.
“Remember, the most bearish commentary always comes near the bottom.”
Well said, thanks.
True.
That and mad mad mad pictures of a drunk Jerry Lewis.
__________
“Actually, I am depending on the oversupply of new vessels to bankrupt FRO’s competitors” Oooh, devilishly clever…
Raising cash too. Holding onto MTOR with two hands, however. That stock gives me the tingles.
I’m looking to buy mor KKR on this pullback and maybe even more ELLI. KGC up 7.5 percent (volatility squeeze) after I posted my buy here yesterday. RIG down a bit and REM trying to find its footing after a waterfall…MS looks good too. My trading partner, Mr. Partridge, says there was a VERY BIG purchase of call options made on GDXJ recently so perhaps June could be a bullish month for the PMs in spite of seasonal data.
What is amazing is that someone came in and bought Italian 10 year like crazy after in moved up to Mid April levels after the Auction ( yield did move up, but they did sell all of it)…So Yield dropped big. But why? and who? Japanese Pension Fund gossip about getting to buy Nikkei wouldn’t do it, actually that would be a reason not to buy Italian bonds. Aussie didn’t move from Europe open levels so not global growth. Draghi not cutting rates wouldn’t do it…ah, someone trying to spike the markets to sell out…yep, that would be a good reason.
Although spellcheck can correct spelling mistakes it cannot construct sentences as well!
I was in a Rant…I should have read it thru before I posted.
one of your previous picks, AXL, has been unbelievable–enough to pay for a PPT subscription
Icahn’s FDML has been a sleeper too … looks like more to come
http://online.wsj.com/article/SB10001424127887324682204578513312471880532.html
EUROPE NEWSMay 29, 2013, 5:20 p.m. ET
Europe Releases Italy From Budget Oversight
Thanks…but The European Bond market had opened up after that and we had a nice push up in yield until somebody reversed it.
only thing I see is USG def going to print 33.(No Rap) Scottie Pippen is going to be proud.
Gonna need moar pipelines and WG has had a nice consolidation … I’m a buyer at these levels.
Drove to Avon and shopped @ Ikea and Costco Memorial Day weekend, first time I’ve traveled to the South Shore in maybe 20 years. Wondering what happened to the Ikea IPO…you ever been to Castle Island in Southie? Check it out sometime and you’ll be pleasantly surprised.
“Seasonality” is an indicator for peckerwoods and other such men of low birth. The precious metals miners are a very fine buy here.