On August 1, anticipating a looming bounce off of oversold levels, I bought some extra shares of CCJ for $19.30. I sold those for a small loss today for $19.10.
Just adding back cash – the market feels terrible and the extra cream to my position was supposed to be all about easy money.
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Got stopped out of my shares of HCLP. Can’t decide whether to buy back in. Any thoughts?
Even here I am a long term holder of HCLP; I think we see it go on a hundred dollar roll at least by the end of next year. A lot depends on if supply agreement announcements keep coming.
“Houston, Texas – August 11, 2014 – Hi-Crush Partners LP (HCLP), or Hi-Crush, today announced the entry into an amendment to its supply agreement with Weatherford. The amendment increases the annual committed volumes under the supply agreement on certain grades of frac sand. In the supply arrangement, Weatherford agreed to pay a specified price for a specified minimum volume of frac sand each month. “We are pleased that Weatherford has chosen, once again, to expand our relationship by entering into this amendment,” said James M. Whipkey, Co-Chief Executive Officer of Hi-Crush. “Weatherford`s increased commitment for volumes further underscores the demand for Hi-Crush sand as we bring on new production capacity this year.” “