I really did not think the report was that bad. The dissapointment for me was the dividends will not be reinstated for at least 2 years. Down almost 16%. Don't want to catch a falling knife, but at some point today I will be a buyer.
The weekly chart is still broken even as it rallies +14% this Friday with a net weekly loss of -11%. The scary part is that this is NOT an individual story because the 'shipping sector' as seen by the Philadelphia Marine Shipping Index or $SHX has been at all time lows since breaking down in October... The tide seems to be against GSL and it won't take much for it to breach it's all time lows near one buck.