Citigroup

Took a gamble and put in a buy order for Citigroup last week at 5.00 when it was trading around 5.40. I did my research. Checked reports, call/put options, potential good earnings report scheduled for today etc and figured 5.00 was probably pretty safe. It pulled back enough last week to execute only to be slammed the next day thanks to the completely coincidental SEC charges filed against Goldman Sachs. Naturally.

So, I doubled down and bought some more at 4.60 with a tight stop.

It luckily stablized around that price on Friday. They did in fact report earnings of 4 billion dollars for the quarter....best in 2 years which shot the stock up over 7%. I'm hoping it will move over $5 tomorrow and will continue to move up throughout the year. I bought it for a short term play only figuring I could make more if I played smart than just letting the money sit in cash and earn 2% interest.

Buy orders

Looks like a couple of my limit buy orders executed today. Market has been dragging this week. No doubt on fears of the healthcare scam mess.

Bought some more SLB and HGT as well as purchased more shares of my USAGX. All of them have seen recent 10% + declines. Let's hope they only go up from here..........

Gold and BEXP

Been a while, eh?

Yeah, I've been busy these last 6 months trying to get my country back from grubby socialists.

Which is why I built up my gold positions last year. Bottom line......money printing equals inflation. Period.


Going with my last entry, I've held on to my BEXP and have enjoyed seeing it go from 1.20/share to over 15.00 in about 9 months.

XTO Energy got a nice 20% bump in mid December after announcing that XOM was buying them out. Exxon is trying to get in to the natural gas market. XTO is the company that purchased Headington Oil who has wells in the Bakkens. My parents received mineral rights checks every month from Headington but are now getting them from XTO. I guess they will now be sent by Exxon.

I'm not sure how 2010 will play out yet with so many unknowns about what the government is going to do as far as legislation and regulations. I'm cautiously a buyer of a few stocks but mostly building up cash in anticipation of a big pull back and a lower entry point.

BEXP Brigham Exploration

I knew if I stuck with this stock long enough, it would pay off. This week, more oil deposits were discovered in the Three Forks area in North Dakota. This is especially encouraging for companies like my XTO and CHK but even more for my BEXP. They have determined they can drill about 2000 bpdoe and is the strongest Three Forks Well to date.

This discovery prompted a quick upgrade by Keybanc and Raymond James to "strong buy" along with a quick 30% increase in stock price in 2 days.


Here's some basic math:
with oil @ $55.00
new well @ 2000 bpdoe
2000 bpd @ 55 $110,000
365 @ $110,000 = 40 million

Of course, you also have to figure in depreciation of the well along with royalties to those who own the mineral rights ( and of course, what the "greenies" in Washington decide to do ) but still...........

I also think natural gas prices are starting to bottom out which will help BEXP as well.

http://www.breitbart.com/article.php?id=D99EAOH01&show_article=1

Goldman Sachs and the economic mess

http://zerohedge.blogspot.com/2009/06/goldman-sachs-engineering-every-major.html

Very interesting read. No wonder most of Obama's appointees come from Goldman Sachs. A little pay back goes a long way.

Gold, Energy and Mickey D's

Energy has been HOT for the last few months. Wasn't oil at $30 a barrel just a few months ago? It's now in the low $60s. Which explains the nice gains in my energy stocks especially BEXP, APC and SLB. I've also enjoyed watching NAT climb its way back to the mid $30's while paying me a nice 10% dividend to wait it out. The dividends it has paid has more than made up for my initial capital loss. I've also noticed more buying of HGT which pays out a divided every month. They are a royalty trust for XTO ( which is also doing well ) so the interest buying going on makes me think people are getting a little more confident in the sector and anticipating higher dividends from HGT soon.

AUY has done great since my last purchase when it dipped to $7.50/share. Gold has gone up nicely and I expect it to go up even more from here. I'm also contributing to my metals fund USAGX on days gold is down. My husband bought a 50g Suisse bar on his trip to Dubai. I'm thinking physical gold is a pretty good thing to have on hand too.

Then there's MCD. They got a nice upgrade last week with a new target price of $65/share. This is another stock I've held on to and enjoyed the $2.00/share annual dividend payout just to wait it out.

Nice rally from 6500!

And my AUY ( Yamana Gold ) finally pulled back down far enough to execute my buy order at 7.50. Let's see if it holds.



My big winner this week was GNK ( Genco Shipping ). It rode the coat tails of an upgrade for DRY ( Dry ships ). They report earnings on the 30th and I think GNK might have legs enough for a little more upside then I'll take some off the table with a tight stop and let the rest ride.