Mr Saturday Night

Slow Saturday night. Might as well punch in a few quick thoughts while watching an amazingly bad movie. FTO got upgraded by ML on Friday (Merrill Upgrades Energy Names), but it was very strange. Usually the market gets excited when a golden WS firm makes an "outperform" call. FTO started up about $1.00 early on, but gave it all back during the day. Odd, all the other stocks went up about 2.5%... I wonder why the market gave FTO the razzberry?

OVTI was downgraded by CIBC to "sector perform". I am hoping that is a contrarian call. They were sure wrong when they made it "sector outperform"on March 2nd. Since then it has gone from $23.99 to the current price of $16.62. It has been a wild ride though getting to $34.49!

PTSC.OB continues to be a stock I wonder about. I own my MFI shares plus I bought some for my non-MFI account when it dropped beneath 80 cents. I am holding my breath waiting for their earnings, it has been eons since their last earning report and the most recent quarter end was May 31st (August qtr close is almost here). My million dollar question (ok, a little hyperbole there) is does the fact that they have waited so long mean good or bad news? I think they have to report this upcoming week or the de-listing could begin... I know that would be short term negative. I am hoping that they have so much cash coming in, they are not sure how to account for it and/or whether to pay a dividend. Good news could really pump up my performance.

Last couple of thoughts... I promise. A long time ago (in a galaxy far, far away) I tried to decide between MTEX and PLAY ( A Tale of Two Stocks). I bought MTEX. I am up 4.8% plus I have a dividend, so I really can't complain. PLAY is up to $12.91 from (wait a second) $10.82. Hmm, looks like about a 20% gain. Funny, the concept of portfolio is that some of the winners offset some of the losers, but it seems everytime I have a choice I have picked the "loser".

Then an update on Hurricane Ernesto. It has begun turning north much more quickly than thought on Saturday. Good for Houston & New Orleans, not so great for Tampa. My expectation is that Cuba will suck much of the life frm the storm and it will not be a big deal. Does hurt my plan for perhaps a quick sale on PTEN, but I can't be selfish... besides I own some insurance stocks so it is good for them.