Hawmps (< 20)

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Hawmps's CAPS Blog

Am I being too Greedy? SFL

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December 20, 2011 – Comments (4) | RELATED TICKERS: SFL , FRO , DRYS

Maybe I'm being too greedy. What happened to the carnage? I was all set to pick up SFL at $8.50 and it bounced back up today before I could get my grubby hands on some shares of that. This is definiely one company that will rise through the carnage of the shipping industry and a temporary dividend cut going forward ($0.39/qtr to minimum $0.25/qtr) seems like no big deal especially with the deal they worked out with Frontline... SFL outa make out pretty good on the back side of that deal. $9.00 is still pretty tempting though; am I being too greedy? I'll keep my limit on $8.50. Who knows, maybe Santa will bring a lump of coal and I'll get my shares at $8.50.

4 Comments – Post Your Own

#1) On December 20, 2011 at 3:06 PM, Teacherman1 (45.55) wrote:

I hope you get that "lump of coal", then I can get some more.

I had my start limit set at $9.00 and it went below that yesterday, so it popped up in my CAPS, but I was out for most of the day, so was unable to actually buy when it happened.

I did, however, buy some this morning at $9.01, but did not go "all in".

I will continue to watch and nibble if it goes down, either because of something happening with them, or just the market "over reacting".

If it does not go down, and I can see a good reason for it going up, I will still buy a little more, using my low start price to keep my cost within reason.

Even with the reduced dividend, it is still a good yield when you buy at the right price.

I personally think their "troubles" are overblown, but each needs to do their own DD.

Good luck in getting your desired start price.

JMO and worth exactly what I am charging for it.

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#2) On December 20, 2011 at 3:11 PM, motleyanimal (99.25) wrote:

You are trying to buy this stock below its 52 week low.

I won't call you greedy, I'll just say that you are very ambitious.

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#3) On December 20, 2011 at 3:28 PM, Hawmps (< 20) wrote:

I was trying to buy yesterday when SFL was testing new 52 wk lows. You know what they say... it can always go lower, and it can always go higher, oh well. I was betting on the lower. Personally, I think the "puppeteers" desided that the market needs some positive sentiment today and voila... the market bounces more than 2% in the first 5 minutes.

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#4) On December 21, 2011 at 1:57 PM, Hawmps (< 20) wrote:

I have decided that I have confidence in Europe's inability to work together and I'm going to still try to pick up SFL on a "daily dip" at $8.50 on a limit order. It seems that all it takes is a good hard sneeze out of somebody and everyone else freeks out... so there you have it.

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