20160304 Gold, Miners, Bitcoin Tumbles

Gold and miners have had a quick bounce with significant percentage gains.  Many have damaged balance sheets and most suffer low commodity prices.

The bitcoin network hit processing limits, and transaction processing was significantly delayed. Even paying higher transaction fees was not able to keep transactions from regularly taking hours to clear. The bitcoin price dropped significantly today.

The drop a couple weeks earlier coincided with a bitcoin developer leaving the project and highlighting significant problems, including inability to process payments which was encountered today.

GLP (Master Limited Partnership)

I received this in an email about energy high-paying dividend stocks. GLP may be an interesting ticker for the divided yield.

$5 Gasoline ~ What Now? GLP>4.59
April 12th, 2011 by Rich

Now, reviewing our favorite and frequently mentioned accumulation XOM, we found a closely-held MLP (Master Limited Partnership) XOM Gasoline Station spin-off above 4.59 with a 7+% dividend that is targeting 50.5.

It seems two years ago XOM decided the 2% margins on retail fuel stations were not boosting its 29% margins, so over 2200 gas stations were spun off as gasoline prices peaked out around $4 a gallon. The stations still retain their Exxon Tiger and Mobil Red Horse branding and fuel, along with any convenience store or mechanic bay repair sales.

One XOM station purchaser was a Master Limited Partnership holding company called Global Partners LP, a leader in the storage, distribution and marketing of gasoline, distillates and residual oil to wholesalers, retailers and commercial customers throughout the Northeast and Internationally.

GLP enjoyed Returns of Equity as high as 37% the last five years. Last year’s ROE was 12%, the lowest in five years. Despite that, GLP paid the highest dividend in five years in 2010, $1.96.

http://globalp.com/ (Website service unavailable as of writing)

GLP is a $354 M company with $7.8 B revenues last year, only 4627 shareholders, 44% of them institutional, that trades around 74,000 shares a day.

As an MLP, the MLP pays no taxes, distributes most of its profits with depreciation, and shareholders receive K-1s to file and pay taxes at their individual tax bracket rate.

http://www.ehow.com/print/about_5212918_k_1-tax-return_.html

Shareholders who bought GLP five years ago when it was a new MLP, doubled their money so far.

GLP has the second highest Investment Quotient rating for its peer group.

GLP insiders bought last November 2010 at prices from $25.22 to $26.08.

As GLP is still in that price neighborhood after margin squeezes, and we think most insiders know what they are doing, we like GLP as a total return play that could keep up with inflation and then some.

If GLP goes as low as its $4.59 low in the market crash of October 2008, it would be a lifetime Buy.

If GLP goes as low as its 200-DMA (Day Moving Average) currently around $25.17 with a 50 cent quarterly dividend, the next going ex-dividend around 1 May 2011, we also like it…

Mahalo Regards*Rich

20130522 Evening, DLSV

Dow 15,307.17 -80.41
Nasdaq 3,463.30 -38.82
SP500 1,655.35 -13.81.  Intraday blow-off top.  Went lower and didn't recover, so selling came in at the close.  1633 is next stop.
30-yrBond 3.21% +0.06

Intraday wild volatility with Federal Reserve chief speaking to Congress.  It appears chief price fixer Bernanke is caught in a trap of his own making.  Dollar going higher.

GLD 131.94 -0.94
SLV 21.51 -0.11
PTM 16.60 +0.08
XLE 82.15 -0.96
XLF 19.83 -0.21
VXX 18.63 +0.20

DSLV 56.16 +0.84.  Sold overnight holding for 1.14 gain per share.  Day range 48.44 - 56.66.  Closed position to get it flat as I will be out of office and don't want this leveraged position open when away from the screen.

YCS 69.54 +0.41.  Intraday 52 week high.  Funds have been fleeing Japan, consequently going into bonds in other countries and pushing down lending rates in perceived safe-haven countries.

20130521 Evening, DSLV

Dow 15,387.58 +52.30
Nasdaq 3,502.12 +5.69
SP500 1,669.16 +2.87
10-YrBond 1.9440% -0.0210

Gold and silver could not get traction higher.  Looks to go lower in the near term.

GLD 132.88 -2.24
SLV 21.62 -0.66
PTM 16.52 -0.35
XLE 83.11 -0.17
XLF 20.04 +0.05
VXX 18.43 +0.16

DSLV 55.32 +4.73.  Went long at 54.90 for a swing trade.

20130521 12:25

Dow 15,386.88 +51.60
Nasdaq 3,502.08 +5.65
SP500 1,670.12 +3.83
30-yrBond 3.16% -0.02

After violent take-down Sunday evening and subsequent rebound Moneday, looking at precious metals for a scalp today.

GLD 133.38 -1.74
SLV 21.78 -0.50
PTM 16.50 -0.37
XLE 83.64 +0.36
XLF 20.08 +0.09
VXX 18.18 -0.09

GLD 133.405 -1.715.  In the middle of yesterday's range, and basing here.  No-man's-land for direction.
UGLD 21.56 -0.90.  Triple long gold.

20130507 PM

Dow 15,056.20 +87.31 Nasdaq 3,396.63 +3.66 SP500 1,625.96 +8.46 10-YrBond 1.7830% +0.0120 GLD 140.38 -1.77 SLV 23.10 -0.08 PTM 16.74 -0.27 XLE 80.63 0.62 XLF 19.15 0.10 VXX 18.19 -0.19 BBRY 14.82 -0.75 (4.81%). Mixed reports on the two new phone models. It appears this is analyst speculation and it will be proved up at the next earnings report. Dropped below a mental buy at 15, so may buy more after doing some study. Volume down today was not exceptional, and lower than the three month average. The QWERTY phone is actually called Q10:

Canaccord Genuity, surveyed industry contacts and noted weakening sales of the Z10 over the past month. Demand for the G10 appears more solid, he said, adding that supply of the phone has been limited and it's too soon to gauge long-term demand. Walkley slashed his phone sales estimates for the quarter by 500,000 units, to 2.8 million, which appears to be at the low end of Wall Street forecasts.

Says Q10 sales are weak:

Pacific Crest analyst James Faucette, who has a underperform rating on the company's stock, said he believes initial shipment and sales volumes for the BlackBerry Q10 - a device that comes with a physical keyboard - have not been strong.

Shorts should be careful, as there is a high short percentage:

Blackberry currently has an outstanding short position that amounts to 31% of its shares outstanding.

20130501 PM, BBRY

Dow 14,700.95 -138.85
Nasdaq 3,299.13 -29.66
SP500 1,582.70 -14.87
10-YrBond 1.64% -0.04

GLD 141.11 -1.66
SLV 22.86 -0.60
PTM 16.61 -0.34
XLE 77.05 -1.22
XLF 18.49 -0.21
VXX 19.77 +0.80   

BBRY 15.80 -0.49.  Went long with 1/2 position at 15.92 for swing trade.  Would like to get other 1/2 around 15.