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Frontline Ltd. Message Board

  • phillipjmonkey phillipjmonkey Jun 13, 2008 9:46 PM Flag

    Time to buy?

    I have some dividend money to reinvest. My plan was to wait until third or fourth quarter and look for a pull-back. I have seen a lot of people speculate that tanker rates will drop for the second half of the year. Right now the stock price feels expensive. That is not fundamental analysis, just my gut. I have had the stock for 3 years and it has been mainly between 35 and 50 the entire time. Suddenly seeing mid 60's and even 70 is a bit of a shock. However, seeing current tanker rates, I think we are in for a blow-out Q2 and a large div. I am considering buying around 60 and riding the mo. Any thoughts? Are other longs buying more here?
    Also it now seems that the immanent oversupply problem is not so immanent. There have been many reports of delays at shipyards and the recent oil spill is speeding up the phase-out of single hulls. When all the analysts were calling for tanker oversupply in late 2008 / 2009 I did not want to be a buyer.

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