Lee Eugene Munson

DryShips CEO: Dry Bulk Sector Oversold

The whole shipping sector is on fire. One should also note the correlation between DRYS and the other shipping stocks to the Baltic Dry Bulk Shipping Index. You will find some follow it on the nose and other are way off.

Bernanke: Economy Will Turn Up This Year

Rolfe,
'An important caveat' - REALLY!?!?
Is anybody out there? Have we really shot all the bears? The Japaneses would be proud. Thanks for posting and putting in bold what is shockingly going over everybody's head right now. At least we know the Treasury will keep printing money. I hope the banks start lending it.
Lee

Massive Options Trade Signals Gold Miners (GDX) Is Set to Glitter

Hey Joe,
Glad to see you covering this topic. I have been trading AU for a while, but everything is just going sideways right now. I agree that GDX could be a great vehicle if it breaks out on some volume, but for now I am just stalking it and the other individual names in the group. If GLD can brake $90 and volume on GDX improves . . .
Lee

Johnson & Johnson: Low Risk, High Value

Div4Life,
Thanks for writing this piece for JNJ, it saves me the time! We are long JNJ and is one of our larger holdings for many of the reasons you have outlined. While I am not a fan of pharma in general, I think you outlined the diversification of the firm. The price action has disappointed me over the last few months, but the quality is there and not everything needs to be traded.
Lee

Grail Active ETF Launched, But Is the Market Ready?

Ron,
I am with you on this one. Not only is the public not ready for an active ETF, but why should they be????
Not only will the trading kill it, but if you want an active manager, you need to give them some room and not trade in and out every day. Active management is best served by way of an open end mutual fund that prices each day. At least then the manager can get his cash balances in order each day.
Lee

Hulu Cracks Top Three Online Video Sites for First Time

I agree with both comments, but the bottom line is that Hulu can get advertisers to pay money since they are approved programing, not original pirate material. Also, people spend more time on Hulu. I would be happy if MSFT bought Hulu as I am long NWSA.

E*TRADE FINANCIAL Q1 2009 Earnings Call Transcript

I agree with Moon on this one. Look at TD Ameritrade that just stuck to boring, profitable, and isn't a dollar stock. I have been trying to figure out a fair value, but just can't touch it with the crap still on the books. Perhaps next year. .

Guns: One of America's Last Growth Industries

I would be looking at a possible short here once the traders loose interest in this fad. You will see the warning signs by tracking new permit applications. This seems played out, but I wish I owned them!!!

Stress Tests Were Never a Serious Exercise

Are we not concerned that the banks didn't simply give themselves a passing grade? Was the BAC thing suppose to show some credibility? I press my banking shorts. . .

Why News Corp Has Me Intrigued

Todd,
Thanks for saving me the time to write this one up. I have been long NWSA for some time now. It is one of my core positions, though it has caused some pain from my original buy points. Bottom line: he ruined the WSJ so more will read and pay for it. He will one of the only newspapers standing. He knows how to trade his assets. He knew ahead of time to get his financing cheap and long term. I say bet on the billionaire!!!
Lee

S&P 500: There Is No P/E (Part II)

I agree!!!!!!


On Apr 23 01:23 AM TheFounder wrote:

> Good article. S&P at 800+ is still expensive and we should test
> the March lows again, maybe several times, and possibly even lower
> until a real base is established to match those economics.

S&P 500: There Is No P/E (Part II)

Moon,
I understand your point, but the banks are integral for a sustained rally. We can't simply say they don't matter just because the books are cooked. They got a free ride this quarter with the new FASB rules and still can't make up for the lost time.
Thanks,
Lee


On Apr 22 10:08 PM Moon Kil Woong wrote:

> I suggest when you look at market PE exclude banks. Their earnings
> are arbitrary and fictitious with current accounting laws and with
> recent FASB changes they are getting worse not better.

S&P 500: There Is No P/E (Part I)

Thanks Fred, I will keep this stuff coming. Just wait, the people at S+P estimate the trailing 12 month in Q3 will be 1900! I just can't make this stuff up!!!!


On Apr 22 03:59 PM Fred Voetsch wrote:

> Excellent! I have been trying to inform people of this for months
> and nobody seems to care. The more voices the better.
>
> DJIA P/E is currently 27
> DJTI is 26
> NASDAQ is 12 ? (I have seen it elewhere as 40 an dthe WSJ is now
> reporting inaccurate data as provided by Birinyi Associates so who
> knows?)
> Russell 2000 is 39
>
> Historical average is 15-16. In times like these (bad economy following
> boom years) we should expect an average of UNDER 15 and a bottoming
> that gives us a P/E ratio well under 10.

Financial Sector Ultra-Shorts: Must Have Protection Against Banking Sector Madness

I agree with some of the comments about the mega ultra death ETF's. I trade SKF's all the time and there are some serious tracking issues. The concept is solid, but investors need to know their lunch may be eaten away by negative compounding and repricing of the swaps the managers use to get the inverse effect. I would beware as a long term investor.

Why I'm Covering My Short Against iShares Barclays 20+ Year Treasury Bond

You do need to sit down and see the slippage in the TBT ETF. The second derivative losses are big. You can hold TBT for a few weeks, see the 10 year yield rise, and still loose money. I have found that it is not so much the volatility, but the way they do the swaps. At this point I only hold TBT for a day or two. It is fine for a reaction trade, but inconsistent over time. A shame, really, because the concept rocks.