In my opinion only, 5 stocks under 10 dollars set to soar GNK is one of them. The next resistance is 3.34 to 3.50 a share. Once you break that level, it could go through 4.00 to 4.20. It possibly will hit a new 52 week high. This week has been pretty busy. News is coming out that Europe is out of recession and things are looking brighter. This stock was in Forbes article. It was also in the Street article too. All we need is the volume to start increasing. This thing will fly. It will be too late for the shorties to cover with such a huge volume. They are able to short this because the volume is low. Anytime it goes up 5 or 6%, they are able to pull it back by shorting it. Once the volume increases, they will not be able to short it because the volume will be stronger and they have to start covering the losses. All options will expire at 1000 contracts which is equal to 100,000 shares. That is due tomorrow. Tomorrow should be a busy day. It will be a busy day for shorties and options. Shorties should start covering soon. Bad shorts bad shorts what you gonna do what you gonna do when the stock rises on you you fool?
The bulls have to be realistic. The GNK will be in trouble if they don't get a relief from their creditors sometime before the end of the year. It is the only hope that BDI stabilize at the current level or higher level for the next quarter or two so that the GNK creditors can see the light of their returns and not to take a bigger loss by withdrawing an investment at the bad moment.
The street's article was based on technical analysis, not fundamental, so kind of like an alchemist analyzing lead. This company has an excessive amount of debt, and is burning through cash. Their daily break-even rate is US$16,669, and they charging are nowhere near that. Whether rates will get there before December is a huge gamble at this point.
Sorry, but you are a fraud. You said that would change your opinion of gnk fleet if someone proved you wrong. The fact is: I proved you wrong. You admitted you rcvd the spreadsheet, but then doubted the both the calculations as well as the inputs. Well, I told you the inputs were based on Clarksons data? Do you doubt their data? The fleet list was directly from gnk. So, multiply across and then add down. Let me know what you come up with. You were proven wrong.
That said, why don't you post under your own name? You would gain credibility and then shorts would cover and you would make even more money, yes?
mike .. what you dont factor is resale prices are up 25% ytd and rising ... as industry and bdi rebound ... same as housing prices post 2009 crash and that stock prices are anticipating more to come...