Bear market, rotation out of shipping stocks, DRYS, the market leader is out of favor, as is GNK, and TBSI technically is well below major support levels.
There has to be capitulation in this market for stocks to go up...and we're nowhere near that. So that means TBSI will suffer with the rest of the market...mired in downtrends for the foreseeable future.
Capitulation??? The stock dropped 70% prior to February. If that isn't capitulation for a company that consistantly smokes their earnings each quarter year after year, and a company with a forward P/E of 6, that is growing at over 50% annually....
Then what exactly do you think capitulation is???
You must be really very worried about this think opening much higher tomorrow morning! Especially since it was up 15% yesterday on great news!
You now are showing colors- scared and nervous, I can feel it with your posts- short is the position and you missed the call- you should have led your flock in a different direction, unless the flock is a patient one, then all is well.
TBSI was in the process of rolling over from 40 along with the rest of the sector, and TBSI will not swim upstream for very long. It could very well test its Jan lows before it's done.
I will ride the short term pop and then try to find shares to short. I do not intend to sell my long shares because the sector is too strong to be ignored. The cliche still holds, though, in this market which may remain irrational longer than we can remain solvent. GLTA