12-15-2014, 08:45 AM
I raised a lot of cash a while back and have been feathering pretty aggressively into the energy blood bath. So far have bought BTE, COP, ESV, OIH, OKE, OKS, PSCE, SDRL, SSL, WMB, WPZ. I also added to DLS and FRN which hold nearly 20% energy related stocks. Total weighting in energy is now a bit north of 20%, my self imposed usual limit for energy. Because the current situation offers special opportunity IMO, I'll continue to incrementally add to the above positions, but only small incremental buys at 5%-10% drops in price.
I like KMI and had an over sized position, but don't like the whopping 30%+ short interest. I'm afraid somebody knows something that is not obvious to me, so the position was trimmed over 1/3. There is a chance that the large short interest just relates to conversion prices related to the details of the consolidation. If so, I may pick the sold shares back up at a later date.
I like KMI and had an over sized position, but don't like the whopping 30%+ short interest. I'm afraid somebody knows something that is not obvious to me, so the position was trimmed over 1/3. There is a chance that the large short interest just relates to conversion prices related to the details of the consolidation. If so, I may pick the sold shares back up at a later date.
Alex