Put 25% Cash To Work

277 views

Okay today is strong. There are dark spots, like the dollar and bonds. I know I said I would wait, but if I apply just 25% cash at these levels, I could get back to even quickly enough.

So I bought BAS, HCLP, and some VOC.

75% cash.

Cash To 50%

742 views

Something is just…wrong here. Isn’t it?

A supermarket chain in the UK dropped that much? Wouldn’t oil have helped them? Greece plunged 11%? The EURUSD is dead, plumming along at 1.24.

These are 2009 type moves we’re seeing here. I’ve been looking at each of these events in a bottle, because I was blind to the obscene money I was making. Taken together, they spell a rather dark picture.

I didn’t sell any BAS, just CCJ, VOC and HCLP. If we get a good relief rally, well…let’s just say, I’m skittish now.

Restructuring

686 views

Something had to be done.

It is December, so I cleared my head and made some tough choices. I sold completely out of AEC, ETP, and BTU. AEC and ETP are the only two positions I have that have held up (made money, really). I don’t want to part with them, but it’s the best move.

There will be immediate cries about selling winners and doubling down on losers. This is nonsense. I’m not doubling down on anything.

The sheer magnitude of this calamity has left me with an enormous, outstanding loss for the year. It’s December – no way in hell I can absorb that loss in less than 30 days.

The only way I can view this is as a window of opportunity to cash out my winners tax free.

Cash now stands at 25%.

I’m sitting on the cash. My preference, obviously, would be to deploy into a sector not at all tied to oil and gas. But if my worst fears come to fruition, that may not be a real thing.

Added To SXCP

147 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.

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

249 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.

Put 25% Cash To Work

277 views

Okay today is strong. There are dark spots, like the dollar and bonds. I know I said I would wait, but if I apply just 25% cash at these levels, I could get back to even quickly enough.

So I bought BAS, HCLP, and some VOC.

75% cash.

Cash To 50%

742 views

Something is just…wrong here. Isn’t it?

A supermarket chain in the UK dropped that much? Wouldn’t oil have helped them? Greece plunged 11%? The EURUSD is dead, plumming along at 1.24.

These are 2009 type moves we’re seeing here. I’ve been looking at each of these events in a bottle, because I was blind to the obscene money I was making. Taken together, they spell a rather dark picture.

I didn’t sell any BAS, just CCJ, VOC and HCLP. If we get a good relief rally, well…let’s just say, I’m skittish now.

Restructuring

686 views

Something had to be done.

It is December, so I cleared my head and made some tough choices. I sold completely out of AEC, ETP, and BTU. AEC and ETP are the only two positions I have that have held up (made money, really). I don’t want to part with them, but it’s the best move.

There will be immediate cries about selling winners and doubling down on losers. This is nonsense. I’m not doubling down on anything.

The sheer magnitude of this calamity has left me with an enormous, outstanding loss for the year. It’s December – no way in hell I can absorb that loss in less than 30 days.

The only way I can view this is as a window of opportunity to cash out my winners tax free.

Cash now stands at 25%.

I’m sitting on the cash. My preference, obviously, would be to deploy into a sector not at all tied to oil and gas. But if my worst fears come to fruition, that may not be a real thing.

Added To SXCP

147 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.

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

249 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