Finally saw a bid for my bonds today. Got rid of glossy paper manufacturer. Stock looks like it might have bottomed, but I don’t see a bright future for paper. Even in the public library (where I use wifi — my virtual office) most folks are using computers and not reading books/mags.
CUSIP 92531XAF9 VERSO PAPER HLDGS LLC / VERSO 11.37500% 08/01/2016 SR SB
I see my platinum and palladium holdings have popped today. Check out PAL and PLG.
I think the market will go down sometime in the next several days or weeks, so I’m hedging my longs with a little bit of RWM:
I’m trying to sell the junkiest of my junk bonds, especially after OSG went bankrupt. I was glad today to see a bid on this bond (CUSIP: 470355AG3):
and now the stock:
In response to the smaller paychecks coming soon to consumers.
In response to the retail vacancies I saw and the increased taxes on the retail consumer.
During the holidays I dragged my tail around some strip malls and did not like what I saw (vacancies). Add the smaller paychecks arriving soon and I think it’s time to sell stuff.
Update: I sold my Radio Shack junk bonds for a 7% loss but the interest payment negated some of that.
I decided to take profits in a variety of junk bonds today, raising my cash to 43%:
HECKMANN CORP SR NT 9.87500% 04/15/2018
BEAZER HOMES USA INC SR NT 9.12500% 06/15/2018
HOVNANIAN K ENTERPRISES INC 8.62500% 01/15/2017 SR NT
FIRST DATA CORP SR SB NT 11.25000% 03/31/2016
ENERGYSOLUTIONS INC/ENERGYSOLU 10.75000% 08/15/2018 SR NT
DYNCORP INTL INC SR NT 10.37500% 07/01/2017
ALLIANCE HEALTHCARE SRVCS INC 8.00000% 12/01/2016 SR NT
EXIDE TECHNOLOGIES SR SECD 8.62500% 02/01/2018
RADIAN GROUP INC SER NTS MAKE WHOLE 5.375% 06/15/2015
The profits ranged from 6.5% to 67% plus accrued interest. Some bonds I could not sell due to lack of a market at the time I was selling. I’m also holding a number of losers, including OSG bonds which are beginning the bankruptcy process. I look forward to investing the cash in the near future.
Looks like a short squeeze today so I took the money and ran!
Should have sold AXPW a few days ago when it was up over 20%, but made a little money anyway today. Update: I also sold EXCO RESOURCES INC NOTE 07.50000% CUSIP 269279AD7 because I lack confidence that they will be able to refinance next year with nat gas prices being so low (reduces the value of their resources which affects their ability to refinance).
It was fun last time. Maybe it will be fun this time!
Looks like a good price to me, if the past is a good guide! May the future be bright for AXPW!
Finally saw a bid for my bonds today. Got rid of glossy paper manufacturer. Stock looks like it might have bottomed, but I don’t see a bright future for paper. Even in the public library (where I use wifi — my virtual office) most folks are using computers and not reading books/mags.
CUSIP 92531XAF9 VERSO PAPER HLDGS LLC / VERSO 11.37500% 08/01/2016 SR SB
I see my platinum and palladium holdings have popped today. Check out PAL and PLG.
I think the market will go down sometime in the next several days or weeks, so I’m hedging my longs with a little bit of RWM:
I’m trying to sell the junkiest of my junk bonds, especially after OSG went bankrupt. I was glad today to see a bid on this bond (CUSIP: 470355AG3):
and now the stock:
In response to the smaller paychecks coming soon to consumers.
In response to the retail vacancies I saw and the increased taxes on the retail consumer.
During the holidays I dragged my tail around some strip malls and did not like what I saw (vacancies). Add the smaller paychecks arriving soon and I think it’s time to sell stuff.
Update: I sold my Radio Shack junk bonds for a 7% loss but the interest payment negated some of that.
I decided to take profits in a variety of junk bonds today, raising my cash to 43%:
HECKMANN CORP SR NT 9.87500% 04/15/2018
BEAZER HOMES USA INC SR NT 9.12500% 06/15/2018
HOVNANIAN K ENTERPRISES INC 8.62500% 01/15/2017 SR NT
FIRST DATA CORP SR SB NT 11.25000% 03/31/2016
ENERGYSOLUTIONS INC/ENERGYSOLU 10.75000% 08/15/2018 SR NT
DYNCORP INTL INC SR NT 10.37500% 07/01/2017
ALLIANCE HEALTHCARE SRVCS INC 8.00000% 12/01/2016 SR NT
EXIDE TECHNOLOGIES SR SECD 8.62500% 02/01/2018
RADIAN GROUP INC SER NTS MAKE WHOLE 5.375% 06/15/2015
The profits ranged from 6.5% to 67% plus accrued interest. Some bonds I could not sell due to lack of a market at the time I was selling. I’m also holding a number of losers, including OSG bonds which are beginning the bankruptcy process. I look forward to investing the cash in the near future.
Looks like a short squeeze today so I took the money and ran!
Should have sold AXPW a few days ago when it was up over 20%, but made a little money anyway today. Update: I also sold EXCO RESOURCES INC NOTE 07.50000% CUSIP 269279AD7 because I lack confidence that they will be able to refinance next year with nat gas prices being so low (reduces the value of their resources which affects their ability to refinance).
It was fun last time. Maybe it will be fun this time!
Looks like a good price to me, if the past is a good guide! May the future be bright for AXPW!
