Here and still Engaged
You guys all know i am long term POU holder, and with 10 cent monthly dividend it makes all the turmoil a lot easier to stomach, but i still feel pain.
Round Two
So were in a commodity space that needs large capital for large projects, this stock market turmoil will not fix the under investment any time soon, in fact i think it will simply make things worse.
The price of natrual gas is at levels we have not seen for years, and their in nothing wrong with the oil price even today.
I did move more than 75% cash and have zero marging and large amount of cash to redeploy, that means i still lost on the 25% i left deploy, even with covered calls.
Shoe to Drop
There may be a few more shoes to drop, i think inflation is already coming off with energy prices, capital destruction in the stock market still has a way to go and that will turn on the housing market as a lot of people are not agile enough.
I did sell some POU but i am still a holder and am waiting for the marketing to digest these interest rates. I almost don't believe the EIA reports anymore and once that 1 million extra boe stops coming from the SPR, things will change.
My strategy right now is not to loose any more money, not to catch a falling knife, and i have lots of capital to redeploy buy it really does not matter how good a company does in this market it will not be rewards.
Still hold some POU, but hold mostly cash.
IMHO