Several of you have expressed concerns about frac-sand producer Hi-Crush Partners (Nasdaq: HCLP) the past few days, which is certainly understandable. In the December issue, the stock had rebounded 30% to push back through the $8 level. But that rally was short-lived, and the shares… Read More
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December 2018 Update It’s déjà vu all over again. On December 4, the Dow went into an 800-point freefall, a plunge exacerbated by electronic trading programs (essentially, huge blocks of sell orders placed by computers). Simmering trade tensions deserve… Read More
Here we go again. When the market tanked in mid-October, it pulled Global Ship Lease (NYSE: GSL-PB) along for the ride. Up until that point, the preferred stock had been extraordinarily steady, trading in a narrow band between $24 and $25. But in a matter… Read More
Not gonna happen. That was my initial reaction when my wife informed me last month that I had to take a medical exam for our health insurance. To be blunt, I’m not a big fan of doctors. It’s nothing personal, I just don’t like… Read More
November 2018 Update We just got another strong update on the U.S. labor market. Employers added 250,000 new jobs last month, keeping unemployment at the lowest level in 50 years. The tight market drove average wages up 3.2% from… Read More
Not many stocks escaped unscathed from the mid-October rout. But preferred shares of Global Ship Lease (NYSE: GSL-PB) were hit harder than most. I set a stop-loss at $22.70 on October 10. That order was triggered the very next day when the stock was torpedoed. Read More
We’ve had a major development this morning at Hi-Crush Partners (NYSE: HCLP). And despite the market’s lukewarm reaction, it’s a positive one. This master limited partnership (MLP) is in the early stages of trying to convert to an ordinary c-corp. Among other benefits, the simpler… Read More
The bigger they are, the harder they fall. In the August update issue, I pointed out that a narrow group of six tech stocks had accounted for virtually all (98%) of the market’s year-to-date gains. I’ve seen this behavior before, most recently in 2015,… Read More
I’ve been getting a number of questions regarding the upcoming conversion of Kinder Morgan (NYSE: KMI-PA) preferred shares. I was planning to discuss this in the next issue, due out early next week. However, because of the high amount of interest – not to mention… Read More
As many of you have noticed, Hi-Crush Partners (NYSE: HCLP) has been pounded, with the stock sliding to $8.86 from $11.28 over the past week. Of course, the S&P 500 has also lost major ground in eight of the past 10 sessions, so some of… Read More