Plus a little this-a-and a little that-a

I can name that tune in 4 notes! I used to love Name that Tune. I think I knew every Broadway musical between 1950 and 1980. Do you know where the Title Lyrics come from without using a search engine? (little hint in the picture).

Pretty cool. With the aid of the snappy excel formulas from Randy this weekend, I have streamlined everything. Look for better graphics , exhibits and ability to track. I even figured out how to automate (to some extent) dividends. Like I said 3+ months ago, I am the kind of guy who likes to keep score at a baseball game... even when my team is losing.

I am relatively flush with cash. I sold my extraneous PTSC position (odd, still no Yahoo headline about the delay in filing financials) and of course I sold my IVII as well along with PFACP last week. I only plan on adding a single MFI position. The rest will go either into international stocks or else ST trades tracking when I think certain MFI stocks are "low". So far that strategy has worked "ok", but I have missed the home runs of PNCL & IVII.

Some of my MFI stocks are in the news this morning. The CEO of TRLG is complaining that his stock is undervalued (True Religion CEO says Street undervalues company). While I agree, I am not a big fan of CEOs banging the drum for their stock. Go out and buy some if you think it is cheap. Meanwhile, do your job. Remember that TRLG did hire GS to try and unlock value, so TRLG going private is not unthinkable. He does want to try and ramp up revenues from the current $148m to $1b. It is an aggressive company.

There was an article in TSCM commenting that insiders at FTO are selling (Energy Insiders Head for the Exits). I never know what to make of insider selling. Insider buying is another story. I went and looked at insider transactions and it is true that in early August a lot of FTO was sold by insiders. But if you look back over the past 2 years, you'd see a lot of additional insider selling at FTO... some how the stock has climbed despite it. There probably is some truth to the fact that some of the refiners have peaked, they really can't make much more money. But with WNR buying GI this week, I do think there is room for further consolidation.

ELX, a MFI stock of mine I rarely mention is buying Sierra Logic (a private company). The market doesn't seem to care one way or the other (Emulex Corp. to acquire Sierra Logic).

Well, the day is through. It was a green day, though not a BIG green day. I was wrong about ELX... their buying Sierra Logic was greeted with enthusiasm as the stock jumped over 7%. TGIS was the big loser, dropping 7.6% to offset the 9% gain yesterday. A day trader's dream if you time it right!

I see where OVTI announces their earnings tomorrow. You'd think expectations are lower than the belly of an earrthworm. The stock has dropped from about $30 to $16.35 in the past quarter. Yes, it has been painful.

The other earnings excitiement for me is today with DRYS. Not an MFI stock, but I have mentioned here before. I am up over 11% in under a week. I expect strong earnings and outlook based on shipping rates. The stock will likely tank!

Buy What I Don't Buy: Wow, my short list of MFI stocks that I didn't buy post IVII have had a banner week. Up 3.5% even with JTX acting as an anchor. My full MFI complement is up 2.6%, including the IVII sale. Hard to complain... but I'm trying.

Not so Nice: NSS has inexplicably struggled in the second half of 2006. As of June 30th the stock price was $55.24, now it is $45.98. That is a drop of almost 17%. They had blow out earnings for the quarter and the CEO gushed about value-added services (meaning greater profitability to me). What gives? I think the market thinks that oil & gas production is going to slow as NG prices are so low. Also, the higher prices that were charges post Katrina & Rita may fade. Perhaps true to some extent, but all the big Oil companies are flush with cash and they have all dedicated a LOT of money to production and drilling. The shortage of gas and oil isn't going away just because we had one warm winter. And NSS trades at a paltry 6.9x next year earnings. The Bottomline... (I love that Cramer phrase), NSS is an undervalued oil & gas derivative play!

IS Nothing Sold: ISNS appears not to have sold a single share of stock today. The single buyer and seller could not come to terms. Pretty funny (on one hand) owning such small cap stocks. On the other hand, when I am ready to sell will I rock the entire market?

PTSC update: Still no headline about the delay of financials. The stock traded flat most of the day, but now is off about 4%. I am glad (right now) that I took my meager profit yesterday.

Split Pea (CU): PCU announced today that they will split 2 fer 1 (Southern Copper plans two-for-one share split). While I don't get too excited about splits, for some silly reason people would rather buy 2 shares of a $45 stock than a single share of a $90 stock... so it will probably give PCU a short term boost. I may be a seller shortly after that boost as I will have had PCU a year on October 13th.

Blog Commenting on my Blog: Hey, I got mentioned in a blog by Jamie. Someone must be reading. He thinks LPMA is an interesting opportunity. I agree, but already have a boatload of LPMA to my name (Blog by Jamie on LPMA) .

Final note - DRYS had disappointing earnings. Blech.

"Say good night"

"Good Night".