I bought in at 8.30 and will continue to buy, any vet knows you buy in at the bottom and ladies and gentleman this is the bottom,save your pennies and avg down put your seat belt on and wait for the price of oil to go above 100 per bl,this company is well financed and there is a reason the 6k and 15k stock sales are being gobbled up at $6.oo a share
any vet knows we aren't close to the bottom. I remember when FRO back in 2002-4 had assets to debt 2 to 1 with a book of $20 and it dropped all the way down to $3. Very slowly. The market wasn't near as bad then either
FRO used to trade as a foreign stock and has since changed the symbol
but vets KNOW we aren't close to a "bottom"
I wouldn't touch this stock with a 10 foot pole right now. When the market turns there will be LOTS of time to buy. LOTS.
NAT has a stronger balance sheet but the tanker market is weak weak. When Nat hits a bottom and then turns, along with stable tanker rates, maybe, maybe VLCCF will turn too and catch back up. Tanker rates have to turn and stay high