I'm feeling kind of bullish... | Bulls on Wall Street

I'm feeling kind of bullish…

 


Did you have a good weekend?  Good, because you better get ready for this
week.  I’m feeling bullish and unless some crazy unforeseen event occurs
I’m pretty sure we’re going to see some nice action this week.  

 

Hoo haaa Guns Guns Guns!

 

I picked up Smith &
Wesson SWHC at $5.10, which I believe is close to the floor. 
This company recently did a dilution, but at
the same time they made a major strategic acquisition in the perimeter security
space. As a shareholder of Smith & Wesson nothing excites me more than when
assholes like Glen Beck and Sean Hannity rile up the extreme right wing into
buying guns and ammo.

 

There has been a massive
shortage on ammunition; as such I really like Olin Corporation OLN. I’m trying
to find a decent entry on this stock, haven’t found one yet. 
In the meantime I watch it climb as I
continue to kick myself for not investing in this thing at $9. Oh and did I mention background checks are up over 12% since August 2008?  Yep, check it – bang bang! 

 
 

Q3 Caution on Commodities, but not worried about Oil & Gas

 

One thing I’m watching
very closely is next quarter numbers on commodities, such as coal. I am not
entirely convinced that we’re out of the woods yet, although a flat bottom is neither
a problem nor a positive for me. As many of you know, I’m not a day trader, and
I don’t mind holding undervalued positions for the long term. 
U.S. coal companies still have some problems
to work through (inventory buildups at utilities, legacy contracts, etc); As
such, Patriot Coal being one of my favorite “underdogs” continues to face major
challenges. 
Unless some corporate event
takes place it’s likely that Patriot will be forced to do another dilution
somewhere in the 10’s. 
Be careful. We
could see another wave of dilutions this winter with many companies. In the
long term these dilutions should pan out okay, but for those of you who play
these stocks for income you have to time things very carefully.

 

Still buying Puda Coal anytime
I see it under $4. 
Remember, I started
buying this stock in the .30 range, which pre-r/s is about $2.10+. 

 

Oil is safe and healthy
between $63-$85. While I appreciate the artificial price manipulation in oil,
it makes me nervous that gas continues to fall – I suspect a floor somewhere in
the high 1’s.  Being from Calgary gas prices falling isn’t necessarily a good thing.  We are close to a bottom, so if you have any suggestions as to how you would play gas I’d love to hear it (I hate ETFs, I’ll stay away from UNG and HNU.TO). 

 
I’m still long bullish on
Northeastern China Petroleum NEP, — whatever swings may occur in the short
term, oil long term will bust past $100.  
Not sure where it will end up next week.
 

Biofuels make me randy

 

I dropped most of my
mega position of Verenium VRNM after the news of the r/s was announced. 
Long term I think it’s a no brainer, but this
reverse split seems like a good way for them to raise further funds and run
another series of dilutions down the road. I’m not interested in holding this stock
right now, lots of other plays to make money on. 

 

My number 1 pick for a
biofuel company which makes money is Syntroleum SYNM. 
I continue to buy it regardless of the
swings. 
When their plant goes online
they’ll be soon ready to product 75,000 gallons of high grade premium fuel a
month. 
..and it’s all thanks to chicken
fat.

 

Online Gambling in the
U.S. will be legalized


You have witnessed as I rode World Poker Tour Enterprises WPTE from $1-$2.  I sold some near $2, but I have a mega
position with an average of around $1.19. 
I’m not suggesting that any of you follow me on this; it’s really up to
you. 
While I was certain there would be
some corporate events taking place it seems as if the market is not happy with
the deals they cut with Party Poker. 
I personally
like it, so I’ll wait it out.


The only thing I like
about Greece is the Souvlaki and the potatoes

 

After China stopped
hoarding the shippers stopped shipping.  The boats are collecting
barnacles as they wait for massive world trade to resume.  When I start
screening low p/e ratios the big trend I keep seeing is the shipping companies
sitting near bottom. While I don’t mind holding undervalued positions for the
long term, I don’t like Greek shipping companies. The Greek shipping companies
don’t give a shit about you or I as investors. They seem to be purely focused
on income and not share growth.  Their share structures are all about
dilution and more dilution.  The insiders hardly own any shares of their
shitty companies, and they pay themselves huge incomes. After making out big on
OCNF and PRGN once, I’m not about to play with dynamite again. 
So please, if you ask me about any stock, let
it not be a Greek shipper.    

 

Biotech
 
I’m getting back into full Drug Dealer mode here. Stay tuned for some money plays I’m working on. 
 
 
So that’s about it for now, some random babblings.
 
 
 
 

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