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.

Every once in a while

I get a call right.

I put in a buy order to purchase BEXP at 1.20 which executed on 3/12.

Today, it's up 38%!

I love it when a trade comes together.

Of course, my buy order for CHK at 16.00 missed being executed by 0.13. As well as my AUY at 7.50 which missed by 0.05. Could have been an easy 10% profit trade.

ETA: Nice 2 day double! Kicking myself about CHK and AUY. Ugh.

The Formula That Killed Wall Street

Interesting read courtesy of Kirk's global economics class:

http://www.wired.com/print/techbiz/it/magazine/17-03/wp_quant

Back from the dead?

Could they really be bringing back the uptick rule!?!?!?


Be still my trading-loving heart!

Of course, the announcement came from Barney Fwanks office. So, take it for what a hypocrite's worth.


I have some shopping to do........

I heart NAT

Gotta love a great CEO coming out and reassuring shareholders the 12-14% dividend is safe. Seems the 13.5% jump in price today (plus another 2% in after hours trading ) shows the shareholders like it!


http://finance.yahoo.com/news/Nordic-American-Tanker-iw-14537584.html


Herbjorn rocks! And so does this stock!

Don't be so smug Gibbs

Seems he took shots today at Jim Cramer for pointing out that Obama's policies and agendas are destroying the market's confidence and contributing to wealth destruction.

He actually giggled.



Wipe that smug look off your face Mr. Gibbs. It really isn't funny. There are more people who DO care about their future investments and pensions than you and your delusional elitists care to admit. Are you really THAT out of touch with reality? Does NO ONE in Washington have a 401k, pension or investments? I know DC is immune from paying taxes unlike us commonfolk.....

I must admit, I do enjoy watching liberal media members of CNBC clue in and take note of the decline. I took note too.....


FACT 1:
Oct 9, '07 DOW 14164
Nov 4, '08 DOW 9625

EQUALS LOSS OF 32% in 13 months

FACT 2:
Nov 4, '08 DOW 9625 Election day
Mar 3, '09 DOW 6726

EQUALS LOSS OF 30% in 4 months

FACT 3:
When it became apparent that Obama would win the election:
Sep 3, '08 DOW 11500
Nov 4, '08 DOW 9625 Election day

EQUALS LOSS OF 15% in 2 months

FACT 4:
Nov 4, '08 DOW 9625 Election day
Nov 5, '08 DOW 9139
Nov 6, '08 DOW 8695

EQUALS LOSS OF 10% in 2 days

That "small audience" you referred to are people who are paying VERY close attention to their own personal wealth destruction.

I'd laugh and say "I told you so" to those who voted this socialist *$%# into office, but it's not really that funny.

Speaking of stocks....

I thought I'd mention a few I own that have held up fairly well over the last six months or so.

1. Nordic American Tanker NAT. It has traded in a $25 - $33 range while still paying out a nice 3.50/share (12%) dividend. If it drops down closer to $25, I might load up some more.

2. McDonalds MCD. It has also done pretty well staying in a $53 - $60 range and paying a dividend of 2.00/share (3.7%). Its last earnings report was phenominal and stands to do well in a bad economy. Plus, they are still expanding in China.

3. Abbott ABT. Well, except for today after the announcement of our moving towards national healthcare. It has traded in a $55 - $60 range and also pays a nice 1.60/share (2.0%). Today saw a drop of over 5% which is huge for this kind of stock. If I wanted more shares, I'd look to pick some up if it drops below $50 which seems to be the put options price. They just raised their dividend ( how many other companies can say the same? ) 11% and have consistently raised their dividend year over year.

4. The biggest surprise is Visa V. I bought shares the day it IPO'd in March and sold off all but a few back when it was close to its peak. But, the shares I have left are right around what I originally paid. The dividend is nominal but I'll take flat over major loss any day.

5. Linn Energy LINE. I picked up some more when it dropped around $11 back in December and has maintained a trading range of $12 - $15 with a pretty dividend of 2.52/share (18%). They just reported today and outlook appears good for 2009.

6. Freeport McMoran. This poor, beaten down stock went from 125.00 last summer down to 16.80 in December! I actually traded this thing and got in when it was in the 70's then rode it up to 125.00 and sold at 100.00 when it started to come down. I did buy back in when it was around 40.00 and dollar cost averaged as it dropped even further. From its low of 16.80 to now, it has seen a 100% increase. Copper stockpiles are dropping and China has announced new infrastructure stimulus which should draw down those stockpiles even more. Freeport halted a lot of its mining and even decided, smartly so, to suspend its dividend to preserve cash. While this stock has rallied in recent months, if it pulls back a little, I might pick up some more. I think there is a lot of upside still.

My next buy will be some Smith and Wesson SWHC. Both the stock and their product.