I am tracking a couple tanker stocks. NAT, FRO, GMR. OUt of those I like NAT the best. They have no debt, a $500M unused line of credit available, and have other tanker companies lining up to sell them their hulls at cutrate prices. They;ve been trading at 25-30 since october, were as high as 40 prior, jumped to 34 today. They pay nice quarterly dividends ($1.61 going x-date on the 18th or 19th). It usually gets hammered down pretty good after the x-date, so I'd look for entry points late next week or the following. I'll probably sell my little stake prior to x-date and buy back in somewhere in $26-28 range. disclaimer: generally the best advice I can give when it comes to investing is to do teh opposite of what I do.
hahaha. good question. 100 people will 100 different opinions. buy them all. in small chunks. right now is a great time to buy, if you have a 5+ year perspective. SPY and VWO for the win.
Sold NAT at $34 before x-date. Bought back in at 24 and change. Trading up at 27 and change today. Finally got my head about water for the year in my IRA. Q4 tanker rates aren't as hot as Q3 rates were, so dividend will not be as high as in past, but still a decent return at this point if they can pump out $0.75-1 dividends quarterly.
OXY...at 42-43...was at 110 few months ago...company is strong and not based on 100 oil..even at 60 oil stock is a bargain
In theory, I wouldn't tell you about any good deals I know, unless I was trying to pump up the price to sell what I own.
Nortel may very well be in bankruptcy soon. There are some great stock values, the problem is people seem to think we are in for 3 or so years of pain. If so more people will sell and those great values may be greater values. hard to know. Personally I would stay far away from any financial stock. Who knows how the mortgage crisis may hit them, even secondarily. But some great still-profitable companies in other industries are selling awfully cheap.
