Don't think shipping will hold yet. After the new year, my opinion is back down it goes. I am still waiting to roll into that sector again. Made some $$$ there in 2010-11. Buying then selling the pre earnings run-ups. Drys was always good for about 40-50c per share pre earnings hype. SBLK ESEA, DHT.....
I am long and still believe in the $14-$15 for Christmas, but yes, this $12.50-$12.99 was coming. It will be short-lived, but I won't give you a negative reply. You have every right to your opinion and YOU WERE RIGHT. I bought more (only 1490 shares more), but it should be a good tiny drop until we are back over $13....Heck I would guess a close today of $13.25. Too many positives to keep it down for very long.
I givbe credit where credit is due and you did call the turning point pretty well.
How did you know this? Where did the shares come from; were the longs selling (and how would you know this) or was this a coordinated short attack (easier to know).
I am curious and would appreciate you giving some details.
Yes you can say it. You were right. It's only a matter of time and we will hit 15$ before the end of 2013. If you took this chance to join the long side, well done. Best wishes to all longs, this is only the beginning!
Sentiment: Strong Buy
You certainly pegged the low. I saw your message and combined with the fact that December options expired and MMs need to sell the shares to those who exercised their options, I saw the 12.95 as a good point to add to my position. Thanks baxter BRAINS, not James.