% | $
Quotes you view appear here for quick access.

FreeSeas Inc. Message Board

  • skipjackmack skipjackmack Jun 11, 2010 12:43 PM Flag

    BHSI 1350 stop 1280?

    BHSI closed the week at 1333. Re-based, that brings S&P500 and BHSI back to parity thanks to the S&P putting on 3% this week.

    These things never work perfectly, so I am expecting the BHSI to continue its downward momentum and re-test the lower end of its channel (around 1280). If it slows its descent and/or bounces from here, that would be BULLISH.

    If 1280 breaks down, then that would be BEARISH for the BHSI and for FREE...I think we'd see FREE at sub-$1.15 or even worse if the S&P500 <1050.

    If the BHSI reaches 1750 by the end of the year, that would have been excellent progress...but I think 1650 is a more realistic target and a much better fit with the trend established before the 2007-2008 bubble.

    In these uncertain times, no point chasing cents on any stock...I'm waiting for more clarity. I'd rather buy at $1.35 in the next push up that has strength and momentum behind it; or sub-$1.15 (or lower) as part of a more sustained pullback.

    Just my opinions, good luck all, dyor


    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Prediction for next week: BDI/BHSI will begin a "U" turn around.

    • Probably will go a few pennies below $1.20 but I just bought more. DJIA signal continues down looking for better news.

    • Thank you. We have learned from each other and that's the real purpose of these boards.
      As for a summer rally, we have to get through this weak down signal first.

    • doesn't bother me in the are entitled to your opinion. i just wanted to explore it's basis and now I understand thanks for that.

      it looks to me as the final leg of the summer rally in the S&P is just getting underway. could be a good time for traders such as yourself.

      too much uncertainty persists for me, so i will most likely watch from the sidelines. but I wish you luck.


    • Your read it correctly. That's is why the sell at $1.31 and why I'm watching for a new buy signal, possibly around $1.20. By the way, price is only one of several things that can be put on a chart!
      If "Strong Buy" is bothering you so much I'll try a new one for you.

    •'s that simple to make money, hey?

      Your signals are still saying to you "strong buy" despite the fact that both your chosen moving averages are descending, the 5 day ma is less than the 10 day ma and the current sp is below both of them? Sure looks pretty pale to me.

      With the BHSI hovering just above 1200 (down 20% from peak), S&P500 hovering below 1100 and undecided which direction to move, and FREE down 5% in a week, I'm really struggling to see this as anything other than the time to strap on my tin helmet...maybe you know something that the wider markets don't...willing to share?


    • I do not have a $1.30 target on FREE. I don't have any targets in either direction. When I see the signal I take it. As for a $1.20 buy that is a guess but I won't actually buy until I get a signal. Suggestion about signals: Don't be a historian, eg. 20, 50, 200 moving averages. Look at 5 day, 10 day moving averages making golden crosses and death crosses. Then do some fifth grade math.

    • There's always a first time.

      The trading tactic you are suggesting is so basic and lacking in detail (no timings etc.) that I guess, in theory, you won't ever be wrong provided anyone that takes your advice holds on long enough.

      The irony is that despite today's selloff in the S&P500, we could well see a suckers rally back up to 1150 over the coming few weeks. FREE might well hit your $1.30 target or more.

      It's the bit after that people reading these posts should be wary S&P500 drop down to 9000 coupled with a BHSI down to 1000-1100(?)...we could see FREE back below $1.05 on higher volume.

      So taking your "strong buy" recommendation, we are looking at an 3%+ upside until your target is hit on lower volume versus a risk of 20%+ downside on higher volume.

      Does an upside risk of a 3% gain really qualify as a strong buy? Especially if you could well be heading for the door at $1.30 and not recommending anyone else sells when you do. That smells funny.

      Hmmm...still looks like a HOLD to me.


    • Has anyone lost money on my buy recos at $1.20? On my DJIA calls?
      I don't give sell recos because someone will start screaming "SHORT". Don't short or use options or margin.

    • I could understand a "buy" recommendation for buy and hold investors like me. Although, as I've posted, there could well be a far cheaper entry point coming in the next few months.

      But a "strong buy" recommendation for trading?!?!? I don't know any decent traders that ignore technical indicators. BHSI at bottom of channel and still falling, shaky S&P, FREE trading at low volumes.

      If it were as simple as "buy at $1.20, sell at $1.30" we'd all be posting up messages from our yachts in the Cayman Islands. Okay, given FREE's volume they'd have to be very small yachts.

      We'll see!!!

      Good luck all,


    • View More Messages
1.150.00(0.00%)Apr 22 4:00 PMEDT