Sunday, March 29, 2015

Suttmeier's Gold Warning at Top is Legendary

Followers of Equities Research may remember this February 2012 post highlighting Richard Suttmeier's Warning on Gold @ $1781.  Since the warning, the GCM5 futures have declined $583, closing the week @ $1198 (33% lower).
GCM5 chart since the February 24,2012 warning through this week's close. (www.bigcharts.com)


Friday, February 10, 2012


GOLD: Suttmeier's Morning Call is a Must Read

Suttmeier:  "We did have a bubble in gold, the bubble popped and we're now trying to reflate," says Richard Suttmeier of valuengine.com in the attached clip. He says that the recent upward trend isn't as much a return to gold's past glories but rather a bounce to be sold. For Suttmeier the end of gold's rally is neigh." from Yahoo! interview with Jeff Macke
 

If you're invested in GOLD, I recommend that you listen to Richard Suttmeier every morning, noon and night



From February 24,2012 Suttmeier wrote
  • "Gold reached a year to date high at $1789.5 closing in on my monthly risky level at $1816.4. If gold fails, the next decline below $1700 will
    likely cause a 50-day / 200-day SMA “death cross” as these moving averages are converged at $1669.5 and $1663.5"

    Follow Richard Suttmeier on Twitter live :

      

Saturday, March 14, 2015

Thanks For Following !!! High Quality Followers

My handle on twitter is @stockpicker908 , my original handle was @GFNNstock

I don't have that many followers, but i really appreciate these bright folks that interact with me. Not only are they smart , but they are good guys/ladies on the up and up.

The Tweet and kind words in my post from Roddy Boyd is the greatest compliment that I ever received in my life! Thank You Roddy Boyd 

Everyone receiving this should visit and bookmark Roddy Boyd's site.






























Friday, March 13, 2015

TITAN BONDS MAKES NEW ALL TIME LOW


Titan Bond (2019) Makes NEW ALL TIME LOW this morning  @ $66.50 yield 14.88% 

Recent 8K : Board Member to Resign 

  TITAN MACHINERY (NASDAQ: TITN) warned earlier this week that the company expects to be in non compliance of the covenants in the $150 million convertible note with Wells Fargo. The company says the terms of the note require the Company to earn a minimum net income for the FY2015 period that ended as of January 31,2015.
On Monday the company stated that they expect to lose nearly $32 million for FY2015 when the audited financials get reported on April 15,2015.  On July 2,2013 or July 8,2013 (read why date is important here) Deloitte & Touche LLP replaced Eide Bailly LLP, the company's long standing auditor  since the company's Initial Public Offering. 


A Review of Securities & Exchange Commission's Comments regarding Titan Machinery Disclosure

Technically " on way to Head and Shoulders target below", greg harmon








Thursday, March 12, 2015

Titan Bonds Drop After Chairman's Comments


 Titan Machinery Chairman David Meyer stated Monday:
  • "The Company is working with the lenders in its bank syndicate with respect to its expected noncompliance with the current minimum income before income tax covenant as of the end of its January 31, 2015 fiscal year. "

Meyer went on to say :
  • "The Company anticipates amending this covenant associated with this credit facility effective as of the end of its January 31, 2015 fiscal year and for future periods, and therefore does not anticipate being in violation of any covenants as of January 31, 2015."
The bond Meyer is referring to are the $150 million convertible notes ($43 convertible price) with Wells Fargo in an underwriting completed in April 2012. Since the the underwriting 3 years ago, Titan Machinery balance sheet, income statement and cash flow statement have all deteriorated significantly causing Wells Fargo to amend the covenants on the bond 5 different times. 
BIG TROUBLE
THE RISK of default if Wells Fargo Does NOT Amend Covenant for 6th Time.

The Chairman "anticipating" that the lender will amend the Covenant because the company is expected to be in noncompliance.
  •  Does the lender, Wells Fargo, feel the same way?
  •  Do bond holders and the public deserve to hear what Wells Fargo has to say regarding this non compliance?
  •  Will Wells Fargo also comment on this issue?

The boiler plate Forward Looking Statement disclaimer was below Meyer's prepared statements made on Monday afternoon to protect him in case his anticipation does not come to fruition.
Also Included:
  •  "The Company’s risks and uncertainties include, among other things, a substantial dependence on a single distributor"
  • " the uncertainty and fluctuating conditions in the capital and credit markets,"
  • " disruption in receiving ample inventory financing"

Titan Machinery (NASDAQ: TITN) stock closed yesterday at a new year to date low @ $12.21. Shares opened Monday morning @ $14.91 and are now down 18% in last 48 hours.
On Monday after the close the company released preliminary FY2015 annual financials for the year ending January 31,2015. Titan usually reports year end numbers in April, so the early release came as a surprise to Wall Street and shares were halted. Tuesday morning the stock traded at a new year to date low @ $11.19.


I blame The company's poor financial condition on GREED AND RELATED PARTY TRANSACTIONS 

Since the Warning 2 years ago,  the S&P500 Index has advanced over 30% while Titan Machiney Shares have declined 60%




  

Monday, March 9, 2015

Halted: TITAN MACHINERY Pre Announces FY2015...... Disaster

Today Overall Market Skyrocketed while Titan Machinery traded unusual volume and sold off all day, at one point off 6%.
Why was the stock lower?
There was no news.
........Until after the close when the company pre-announced year end results and announced that two stores were closing and that a member of the board was resigning.

Titan Machinery (NASDAQ: TITN) suspiciously traded down 6% today while the overall markets were all higher.
It turns out after the close the company reported a surprise announcement for their year end results which are usually released in April. Upon the release of the preliminary year end results for the FY2015 ending January 31,2015, the stock was halted!


" GAAP net loss attributable to common stockholders for fiscal 2015 is expected to be in the range of $30.9 million to $32.0 million, or $1.48 to $1.53 per diluted share.  vs
Adjusted net income attributable to common stockholders for fiscal 2014 was $16.5 million, or $0.78 per diluted share"

"The Company is working with the lenders in its bank syndicate with respect to its expected noncompliance with the current minimum income before income tax covenant as of the end of its January 31, 2015 fiscal year. "

Board Member Resigns 
  • 2 of the stores were closed Monday, did any of the employees know? Any of them? Maybe 1 employee ? 2 employees? who knew before the announcement?