RE: RE: RE: RE: RE: RE: bluewater You can either knock the facts in a post or knock the poster i guess, and most here dwell on the poster
I am out of PSN as of early this morning. At the peak I had over 85,000 shares ( through the spin off) bought in the early spring of 2011, Since then I sold a lot when the first quarter earnings came out in 2011- and the last 20% early this morning..
I still think PSN is a great company and certainly didn't sell my remaining bit ,due to the very negative posts on prices for tank rental etc that have taken over the board in last few weeks.
I sold, as i don't like the stock action over the last three months. It has gone from low of 14 to high of 16 a very narrow band. and was dropping again so i bailed, I laughed when I saw post that said this stock is manipulated- you are kidding- it has a very narrow range-
What concerns me is that the forecast of 500 tanks is not 600 as i thought it would be by now,- and from the start I hate the emphasis on ibitda - what is wrong with comprehensive income- the cash flow before income taxes seems to forget their major cost- manufacturing tanks- do you realize the entire cost of tanks- their major expenditure, is not even included in their cash flow projections of 210 or 220 million. Yes there is a great dividend- but its more than half of income and I would rather see that cash put back into the company
I have been very lucky- best profit of all stocks I have owned in last two years- and maybe i left some on the table, but its time to move on.
I agree with all the sane posters that the drop in prices etc is a scare tactic- and I hate the negative posts but as I have posted earlier . the short position in this stock is really 950,000 shares through the TSX and not 19 mm. I wonder how someone can think that there are 19 million short and though none of those shorts went through TSX, all are over the counter,- but when they cover- somehow all will go as buys through the TSX and thus effect the stock price.. These posters blame all sell offs on shorts, and all upswings on a short squeeze- even though the report on TSX shows less than a million short and ONLY that million will be covered by buys on tsx.
However- the upside potential seems limited to me- they seem stuck on 500 tanks- i was hoping for 600 at end of year and this stock is at the highest multiple of all oil service stocks out there- in other words- if it was selling at same multiple as other oil service stocks it would be ten bucks at most.
so for all these reasons I sold my 20,000 shares this morning
sorry to do that
I am sure it didn't drop market much at all- maybe a penny or two
and last
anyone who thinks that the odd 200- 300 people that read these posts determines the stock price is crazy.
we are nothing- however- it is a great way to see how people think about a stock- and good luck to everyone who owns PSN- However- at some point you need to sell- Having been in the game now for over 45 years- the skill, or really the luck, besides picking the stock ,is knowing when to bail and take profits.
selling is by far the hardest part of the game
to me its now- and if it goes to 25- well ,i was wrong
don't marry it
and good luck