Will this "Cyprus Thing" affect the Greek shippers and NMM specifically?
I'm thinking of lightening up here by 2/3 in the event of an NMM pullback or overall market correction.
I think the powers that be seem to manufacture fear to keep the market as a whole from becoming a dangerously over-inflated bubble.
There's bad news somewhere everyday, but it seems that a few times a year in the past few years "all of a sudden" there is some "danger" sending sellers rushing to the door.
This latest "fire" may consume some of NMM's share price, unless it is seen as a non-event.
While I consider most news to be manufactured fluff, I've been left alone at my table to pay the bill on more than one occasion.
That being said, I still see NMM approaching 15, if not breaking 15 this quarter.
I'd just hate to both lose my current gains so far and hereby missing an opportunity to purchase even more NMM at a lower ppp for the dividend run I think has yet to occur.
But, with little or no pullback before the dividend declaration, NMM could even climb to the upper 15s and even to 16+
With a little help from my friends I may either avoid becoming a lemming,
or cash in some shares now and enjoy a delicious lemming barbeque later.
You read me Ray???
Hi Foxy ...
There is some good information in this thread. My take is that growth in NMM PPS will be slowed a little, so I have reduced my position from 20,000 to 10,000 shares, and raised my WMC position to 30,000 shares. I plan on increasing my NMM position over the next new months as I am still a believer.
I also like your investment strategies. I like this stock market game 'cause you can play it even after you retire.
NMM doesn't depend in any way on either greek government or greek economy; their ships mostly sail between sellers of dry bulk (america and australia) and buyers of dry bulk (Europe, Asia); for their services they are paid in dollars, not funny money euros; legally, they are based in Marshall islands; sales office happens to be in Athens -- but no actual business actually takes place there; it might as well be on the moon. i understand some top level managers might be Greek residents, so they will be paying higher personal taxes -- that's about it.
Thanks for the input P.C.
That's kind of what I figured.
Maybe those greeks will take their money out of banks and buy NMM with it. ;)
I'm going to monitor my NMM account(and others) closely in the days ahead all the same.
It only takes one #$%$ to pop a balloon.
I tried to sell some shares pre-market at 14.28(Fri's close)
It did not complete.
It was my first time using Scottrade's pre/post market function.
Was it because of no buyers at that price or do I need "special clearance" or something.
At the time of my order NMM's still stood at 14.28, according to the Nasdaq website.
Is anyone out there familiar with trading pre/post hours on scottrade?
Any help would be appreciated concerning this matter.
The premarket prices probably never reached 14.28, which was Friday's close. The one time I checked about 1/2 hour before the open, the bid was 14 and the ask was 14.17. After a bad open, we're slowly coming back today, so you might get your 14.28 later this p.m.