One analyst asked questions during today's teleconf. This is insufficient activity and suggests that we won't see a SUSTAINED price rise until we're on more radars.
Hopefully the next announcement of charters through Q3 +/- refinancing will cause a price pop that will alert more analysts to FREE.
Good news is that this means more time for me to raise cash and buy more stock! I topped up y'day.
The float becomes limited at the bottom, at low prices. The accumulation takes place there because it is easier to convince holders this "stock will go nowhere" and it encourages "tax loss selling" for those who bought at higher prices.
The moves can be relatively short in duration, and, usually are not caused by the management of the company, but independently of what management is doing.
I wasn't here for the earlier version, but I doubt FREE was under heavy accumulation at the time.
Market is trying for an upward reversal and if DJIA holds for the week in the 10210 area we will have a confirmed, though weak reversal. Watch next week for brokerages and talking heads to unleash a flood of "BUY" recos trying to sustain the move. I continue to accumulate FREE below $1.25.
definitely nice to accumulate at anything sub-$1.30...but could there be even better prices ahead???
BHSI back down to 1407 and has therefore reached it's short-term trend line (started Feb 2009).
I'm going to re-post my analysis of the BHSI and add some thoughts on the wider markets.
Buy soon. Even the most jaded equity "researcher" should be able to see a sequential earnings improvement that should drive the P/E below 3 with a potential renewal of dividends and acquisition of additional ships. Their biggest asset seems to me to be good management and that's really big given to lack of talent exhibited so far by other shipping companies.