Last fall as you remember they said on the 3 rd quarter conference call that in first quarter of 2013 that it would be smooth sailing for TNK. We are heading into the third quarter shortly and TNK needs a bilge pump to keep afloat. I would not be surprised if we see this the stock price below $2.00 soon. I would be a buyer at around $1.50. Lets be honest this isn't the Black Pearl. It is more like the Titanic.
Wednesday's surge up was a significant amount of short covering, other than that I don't think a lot has changed other than the disclosure of 2 VLCC's which may well be a plus when this sector turns around and that is just a matter of time. In the meantime I plan to nearly double my holdings (again) in TNK