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palmdesert506
| Location: | Palm Desert |
| Sectors of Interest: | N/A |
| Member Since: | October 30, 2007 (5 years 29 weeks ago) |
| Last Login: | 6 weeks 1 day ago |
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stocks that did not decline big and held strong today have most likely bottomed
Check your private messages for one from me today.
PMT keeps getting dirt kicked in its face. This has been a stock that has closed down week after week for years.. I thought the Riddell family or Nat Gas would have done somthing by now.. the markets have become a scary place lately.
thanks for thinking of me pavloh. Today was a day I have been fearing for some time. The yeild kept getting higher and higher so I did not mind. But now I have lost my dividend and a large portion of my investment. I just have to hope PMT management knows what it is doing and can add value over the long term. I am not selling.
Could be a bad day tomorrow for PMT http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aPMT-1890925&symbol=PM...
I think PMT has an excellent management team and I liked the movements they were making into oil. Their excellent NG hedging team was holding them up for a long time, till finally the low NG prices beat them down.
I am a long term bull on energy companies and believe you will be made whole again and even make money on PMT. But the fact that it's production is still so heavily weighted to NG, I felt there was better shorter term opportunities to move my money into.
thanks I will have a look at EW. The chart indeed looks like most on every exchange this year. I am still holding my PMT. Did something happen to make you think the management or properties were bad or simply Nat Gas continuing to lag in the energy world..
thanks for the feedback and welcome back
palmdesert: I took a big hit on both PMT and CMT, I had felt that at some point NG would recover I was taken in by so much bullish talk about it. As you know it just did not happen, no doubt it will move higher at some point in the future. I felt it was no use beating a dead horse and was time to move on, which turned out to saving me from losing more money in the two companies.
My energy investments are concentrated in oil stocks, which have repaired the damage caused to me by PMT and CMT. I see you recommended my blog on East West Petroleum EW it is dirt cheap I strongly feel it is going much, much higher for that reason I bought a very significant share position at current levels in the company.
EW is a company you should seriously consider buying.
Is anyone following Perpetual Energy??? It is a natural gas producer that has just been hammered and hammered for years. When does the bleeding stop for natural gas producers..