Added To SXCP

141 views

I made purchases of SXCP for $24.64, adding to my position.

My current account balance stands at 118% margin.

My wash sale of NADL was total luck. I got pissed off at them for failing to close the deal with Rosneft so I spiked the ball and stormed off the field. That locked in a 15% loss. Well, the stock is down another 42% from that point. That would have been another 5% loss on the account. Not pretty but I’ll take it.

There is good strength in my positions this morning. BAS is up almost 8%; I’d take that with a grain of salt, it has been flipping 10% week over week, lately. But HCLP and VOC are both up about 4%, CCJ is up another 1%, and BTU is higher by 2%. AEC is taking a breather, now nearing $22. So is ETP, pushing on $68.

My holdings are AEC, CCJ, HCLP, BTU, BAS, ETP, VOC, SXCP, and physical silver.

Uranium Spot Prices Continue To Soar

230 views

Approximate prices for the uranium spot market lifted another 5% from last week. We’re now well back into the $40’s.

This is what I have been waiting for, for years now. CCJ is still one of my larger holdings, and there is still time left in the year to have it be a big hit. But even if it doesn’t work out before 2014 comes to a close, 2015 will work fine too.

Japan set off the stampede. It ends gloriously.

AEC Up 7% Today

164 views

I mostly got out of the multifamily trade earlier this year, by selling out of MAA. MAA was a position built from shares of CLP that were swapped out in a merger between the two companies. CLP and AEC were an investment I had made in the multifamily space in 2011, betting that rental occupancy would remain at record highs and rents would experience pressure, while more generally mortgage generation and homeownership would continue to languish.

That worked out pretty swimmingly.

But I did make one…I wouldn’t call it a mistake, per say, but…misjudgment. I did not anticipate how much the street hates AEC.

I guess AEC’s CEO got on the dark side of Wallstreet back in the late 90’s. Not just Wallstreet; I had some people perchance on my articles hyping up AEC who hated the CEO so much, they took the time to tell me and anyone else reading. I guess I can respect that. Blackballing those that have crossed you is an American tradition of sorts. I do it all the time. No big deal.

But I was willing to give AEC a chance, and it has mostly paid off as well. In addition to collecting 5% annually for four years, AEC is now up about 35% from my entry price. Not an APC or RGR or HCLP by any means, no. But respectable.

AEC is up 7% today, continuing a big push it has been making in the second half of this year. AEC has been trading at a serious discount to its peers in terms of stock premium, but has been making moves to force recognition of that value.

If AEC can hit above $23, that will have put AEC at effective returns of about 16% compounded annually, since 2011. Not bad, I can live with that.

You Won’t Believe What Happened To Basic Energy Services’ Operation Data Last Month

240 views

Nah, I’m just screwing with you. It was unchanged.

FORT WORTH, Texas, Nov. 11, 2014 /PRNewswire/ — Basic Energy Services, Inc. (BAS) (“Basic”) today reported selected operating data for the month of October 2014. Basic’s well servicing rig count remained unchanged at 421. Well servicing rig hours for the month were 77,800 producing a rig utilization rate of 73%, compared to 71% in both September 2014 and October 2013.

Fluid service truck utilization was up substantially. There was a tick down in drilling rig days, but those remain well above where they were the last time BAS was trading at $11.

Roe Patterson had this to say:

“October activity was strong across all of our business segments rebounding from the Labor Day and weather impacts during September. Our stimulation horsepower operated at near full utilization in October and we maintained price increases to offset higher operating costs.”

Sounds like doom and gloom there. Black smoke everywhere…

“We saw a significant increase in truck utilization in October, particularly in our Permian Basin and Rocky Mountain operating areas, as we continue to benefit from our longstanding strategy of centering our fluid service assets around our advanced disposal well network. Utilization levels in our well servicing and contract drilling segments were steady and remained in line with our expectations.

“While we are pleased with our customers’ current levels of activity, we are closely monitoring them as well as their expected 2015 spending plans. We have positioned ourselves to quickly make appropriate changes to our operating strategy as may be required.”

So far, there remains no proof that the sector is even slowing down. I’m sure there are some high speculation bets out there which will be destroyed. So stop buying husk.

Rumors of the demise of the energy and gas sector are way ahead of themselves.

Happy Birthday iBC! – Also Back In BTU For $11.80

119 views

A magnanimous 7 years, and here is to 7 more.

I have very much enjoyed my time with this site. My stint goes back to the days of the old Peanut Gallery, when any reader could chance to write. I gathered myself a small little following, which I used to take down competitor after competitor.

Eventually, I was approached about joining in a permanent station.

Today I repurchased a position in BTU for $11.80. This move doesn’t make sense on some level, since this removes some of my losses for tax season. However, I’ve liked coal for a while now and BTU has a key advantage over other possible positions – I’ve already done due diligence on them.

I was already toying with the idea, and watching Fly move into BTU today got my own legs going.

Sold Entire NADL Position For 15% Loss

242 views

I had purchased NADL betting that a deal with Russia’s Rosneft would come to fruition in the fourth quarter. However, oil prices and sanctions have clearly left Rosneft thinking it best to delay the transaction. Leaving me holding a very rough (albeit technically competent) operation.

NADL is no good on its own. Deep sea extraction in this environment is terrible, given the price of oil. The company itself is debt burdened. The only thing that made NADL sweet was Rosneft buying up such a large part of the company with assets and cash – the buying price was something akin to $9 a share, or more.

I bought NADL because the deal was sweet and would have completely changed the calculus for holding investors.

I bought the deal. Not promises of the deal.

I’m not waiting around for another eight months praying the Russians make good on their world. The word of a Russian is worth dick to me.

15% loss on a full position cost me 1.5% net. It will get rolled into tax season. Otherwise, my positions are doing well. We’ll see if they keep it up.

Added To SXCP

141 views

I made purchases of SXCP for $24.64, adding to my position.

My current account balance stands at 118% margin.

My wash sale of NADL was total luck. I got pissed off at them for failing to close the deal with Rosneft so I spiked the ball and stormed off the field. That locked in a 15% loss. Well, the stock is down another 42% from that point. That would have been another 5% loss on the account. Not pretty but I’ll take it.

There is good strength in my positions this morning. BAS is up almost 8%; I’d take that with a grain of salt, it has been flipping 10% week over week, lately. But HCLP and VOC are both up about 4%, CCJ is up another 1%, and BTU is higher by 2%. AEC is taking a breather, now nearing $22. So is ETP, pushing on $68.

My holdings are AEC, CCJ, HCLP, BTU, BAS, ETP, VOC, SXCP, and physical silver.

Uranium Spot Prices Continue To Soar

230 views

Approximate prices for the uranium spot market lifted another 5% from last week. We’re now well back into the $40’s.

This is what I have been waiting for, for years now. CCJ is still one of my larger holdings, and there is still time left in the year to have it be a big hit. But even if it doesn’t work out before 2014 comes to a close, 2015 will work fine too.

Japan set off the stampede. It ends gloriously.

AEC Up 7% Today

164 views

I mostly got out of the multifamily trade earlier this year, by selling out of MAA. MAA was a position built from shares of CLP that were swapped out in a merger between the two companies. CLP and AEC were an investment I had made in the multifamily space in 2011, betting that rental occupancy would remain at record highs and rents would experience pressure, while more generally mortgage generation and homeownership would continue to languish.

That worked out pretty swimmingly.

But I did make one…I wouldn’t call it a mistake, per say, but…misjudgment. I did not anticipate how much the street hates AEC.

I guess AEC’s CEO got on the dark side of Wallstreet back in the late 90’s. Not just Wallstreet; I had some people perchance on my articles hyping up AEC who hated the CEO so much, they took the time to tell me and anyone else reading. I guess I can respect that. Blackballing those that have crossed you is an American tradition of sorts. I do it all the time. No big deal.

But I was willing to give AEC a chance, and it has mostly paid off as well. In addition to collecting 5% annually for four years, AEC is now up about 35% from my entry price. Not an APC or RGR or HCLP by any means, no. But respectable.

AEC is up 7% today, continuing a big push it has been making in the second half of this year. AEC has been trading at a serious discount to its peers in terms of stock premium, but has been making moves to force recognition of that value.

If AEC can hit above $23, that will have put AEC at effective returns of about 16% compounded annually, since 2011. Not bad, I can live with that.

You Won’t Believe What Happened To Basic Energy Services’ Operation Data Last Month

240 views

Nah, I’m just screwing with you. It was unchanged.

FORT WORTH, Texas, Nov. 11, 2014 /PRNewswire/ — Basic Energy Services, Inc. (BAS) (“Basic”) today reported selected operating data for the month of October 2014. Basic’s well servicing rig count remained unchanged at 421. Well servicing rig hours for the month were 77,800 producing a rig utilization rate of 73%, compared to 71% in both September 2014 and October 2013.

Fluid service truck utilization was up substantially. There was a tick down in drilling rig days, but those remain well above where they were the last time BAS was trading at $11.

Roe Patterson had this to say:

“October activity was strong across all of our business segments rebounding from the Labor Day and weather impacts during September. Our stimulation horsepower operated at near full utilization in October and we maintained price increases to offset higher operating costs.”

Sounds like doom and gloom there. Black smoke everywhere…

“We saw a significant increase in truck utilization in October, particularly in our Permian Basin and Rocky Mountain operating areas, as we continue to benefit from our longstanding strategy of centering our fluid service assets around our advanced disposal well network. Utilization levels in our well servicing and contract drilling segments were steady and remained in line with our expectations.

“While we are pleased with our customers’ current levels of activity, we are closely monitoring them as well as their expected 2015 spending plans. We have positioned ourselves to quickly make appropriate changes to our operating strategy as may be required.”

So far, there remains no proof that the sector is even slowing down. I’m sure there are some high speculation bets out there which will be destroyed. So stop buying husk.

Rumors of the demise of the energy and gas sector are way ahead of themselves.

Happy Birthday iBC! – Also Back In BTU For $11.80

119 views

A magnanimous 7 years, and here is to 7 more.

I have very much enjoyed my time with this site. My stint goes back to the days of the old Peanut Gallery, when any reader could chance to write. I gathered myself a small little following, which I used to take down competitor after competitor.

Eventually, I was approached about joining in a permanent station.

Today I repurchased a position in BTU for $11.80. This move doesn’t make sense on some level, since this removes some of my losses for tax season. However, I’ve liked coal for a while now and BTU has a key advantage over other possible positions – I’ve already done due diligence on them.

I was already toying with the idea, and watching Fly move into BTU today got my own legs going.

Sold Entire NADL Position For 15% Loss

242 views

I had purchased NADL betting that a deal with Russia’s Rosneft would come to fruition in the fourth quarter. However, oil prices and sanctions have clearly left Rosneft thinking it best to delay the transaction. Leaving me holding a very rough (albeit technically competent) operation.

NADL is no good on its own. Deep sea extraction in this environment is terrible, given the price of oil. The company itself is debt burdened. The only thing that made NADL sweet was Rosneft buying up such a large part of the company with assets and cash – the buying price was something akin to $9 a share, or more.

I bought NADL because the deal was sweet and would have completely changed the calculus for holding investors.

I bought the deal. Not promises of the deal.

I’m not waiting around for another eight months praying the Russians make good on their world. The word of a Russian is worth dick to me.

15% loss on a full position cost me 1.5% net. It will get rolled into tax season. Otherwise, my positions are doing well. We’ll see if they keep it up.

Previous Posts by Mr. Cain Thaler