Hi Mark, been out of town a lot lately. Just as well, my oil stocks that I thought had bottomed are still presenting new and better "buying opportunities". Ouch. Pretty soon they'll be giving oil away. It costs more to store it that to produce it these days!
Yes, ECGOF keeps signing new contracts and the price keeps crashing.
Fortunately I am no longer in ECGOF. I bought it around 8-9 last year and rode it up to 14 and then slowly sold it as they kept missing earnings marks. At one time I was up about 80%, but stupid me rode it back down and basically broke even on it.
My NTBK, was a great trade on the other hand. I bought it around 20 and sold all of it around 28. My DIIG, I bought around 18 and sold around 22.
My new play stock is DGIV, a BB penny stock. Has a really weird thread heren and has all sorts of rumours floating around about mergers/buyouts etc.
I told you this several months ago, but the oil service sector has been killed lately and should be a great long term play. My favorites, FGII,EVI,VRC,MIND,MDCO are all down 50-70% from their '97 highs and still making very nice earnings.
Hope you are staying cool. It was 95+ at the beach last week.
P.S. Food Lion has been volatile lately, wonder if they'll hit earnings or not? |
