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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (3497)	10/8/2015 1:21:49 PM
From: Kirk ©	Read Replies (1) \| Respond to of 27069

I have no opinion on buy or sell since I don't follow RIG but without scanning through my last newsletter for each stock I cover, I'm pretty sure I have at least two tech stocks CURRENTLY with $10/share cash that sell for under $20 while making money. I believe RIG is both over $30 and losing money so you are probably right about the risk. Kirk, RIG has >$10 cash per share finance.yahoo.com and TA is looking up, but you're right it's still too risky. I'm selling and buying back covered calls I remember during both bear market bottoms I was able to buy some stocks at something like a third the cash on their books... it was like I was paid to buy the shares they were so disliked.

To: Gottfried who wrote (3497)	10/8/2015 5:51:58 PM
From: Kirk ©	Read Replies (1) \| Respond to of 27069

Crap, I had a nice answer and SI/W10 ate it! Make sure to come back as I am editing this... I didn't notice my chart stopped last year when RIG was $30s....! At half the price, it is more in line with the stocks I mentioned that have about $10 in net cash PLUS about 7 times earnings.... the earnings estimates may be similar to tossing darts, especially during down times when competition can be fierce... but if RIG can turn a 50¢ profit and has NET CASH of $10, then it might be trying to bottom. Of course, one of the BIG reasons I avoided it is it has $10B in debt and only $3.8B in cash... so it seems stupid to be paying a big dividend when it has cash flow trouble including massive debt payments.... finance.yahoo.com Again, low debt is another reason I like so many tech and biotech stocks. I've seen crooked insiders issue debt to themselves then let the company go under so they get it via the debt....