PostPatrol; I'll play with you - because no one else will (VBG).
re: GLBL - I really fail to understand your point, or your question ?
I think the record clearly shows; that I bought and subsequently sold GLBL - about 3 times off of the bottom and played the $6-8 game pretty well - and most importantly; on margin to boot. By "trading" and "margin-leveraging" GLBL; GLBL would have to go to about $17ish on a buy & hold method to match what I allready have in the bank... what's your point Mr. Dinosaur ?
My GLBL is all sold and I could not be happier. That was a short covering rally as much as it was any type of longterm commitment to GLBL. The news of the merger being canceled was the entire catalyst for the move - selling into the initial move was smart. I made as much as a % return on GLBL, as I did SII and these 2 rank among my best investment returns of late. "AND" - the profits are cashed in; I've got the $ in my pocket and I've got $22 NBL, sub $8 OEI, $13ish UPR , $11 FST and $9 PXD instead...
I am very happy to have sold GLBL, SII, my FLC, my MRL etc. on the recent run up. I have "rotated" the $ much more heavilly into the E&P's - and at prices below where they were selling at OSX 65ish to boot - go figure, with higher crude prices... and better NG hedges - now above market for a change (VBG).
Quite simply; the E&P's - especially the crude leveraged plays, have rising commodity prices, rising earnings, cash flow & revenues - with the fundamentals clearly surpassing the driller/service companies - yet; I get to own these E&P's here at prices below OSX 65 levels vs. buying the OSX at 80+ who do not as yet; have rising earnings, revenues, cash flow etc to any degree comparable to the E&P's.
Also, one minor thought. For the driller & service companies to actually have stronger fundamentals - it means that the E&P's & Big Oil will have to be doing better than they are today... higher cap ex spending for them = higher production, higher cash flow, higher earnings... the "advantage" of the E&P's fundamentally will only grow to a greater degree in the neartem - it has to given the separation of shareprice vs. fundamentals here.
This is a gift buying opp in the E&P's here; it will not last long; only the arrival of Winter weather is needed - period. Only sentiment needs to change; as ABN AMRO so incredibly just discovered - the underlying fundamentals are clearly ramping allready. |
