you think EXM will be on fastmoney's Poops and Dupes?
DRYS was on their drops. They did show a chart of EXM and DRYS. The bald guy said, BDI dropping whole sector getting wacked. His comment was you've goto trade on technicals, forget the low P/E e.t.c????
Pete still said to buy energy stocks on dips as the rally isn't over. I own a lot of this sector in my 401K. It just got killed these past couple weeks.
I sold the dry shippers I have in a short term trading account yesterday at $78 (DRYS) and 41(EXM), both for a loss.
Planning to get back in but this is a short term trading account in which I might need the money at any time so I can't afford to just hold and wait till next earnings. Now I'm planning to trade around these and some other stocks and then get back in once DRYS is below 70 and EXM is in the low 30's. Gotta love $8 Fidelity commisions.
I know that after the next round of earnings I'll be out of this sector in all my accounts.
With revenues locked in for so many companies in this sector, it's crazy how volatile these stocks are.
EXM doesn't even have any capes on spot so this drop in the BDI won't even affect their earnings.
Bought it recently at 29, rode it all the way to 60 and didn't sell a single share. Why, full value of this stock is closer to 80/share. F'ck I'm an idiot.
Fool me once (last year) shame on you, fool me twice (this year) shame on me. The third time I'll be much smarter.
This is the case with all small to mid cap stocks that are sector specific. They run them up, then down. Wall Street is churning this market, they have no other way to make money. The only place you are relatively safe are in large cap naMES LIKE PEP, XOM, PG. You won't make much nor will you lose much.
Right now they are shorting everything again. Banks are in big trouble, oil is making records every week. You have to take any and all profits when you have them. We are in a bear market and it will stay that way for another year or two.
I got disgusted and went to cash. I'm not going to invest in a market that churns stocks up 50% and down 50% in a few weeks. This isn't investing, it's criminal what they are doing. Fundamentals mean nothing so I'll keep my money off the table.
We are in for another big smack down today and Monday. We should mae new lows in the Dow and S&P next week. When Wall Street decides to short, they will get this market down. They can take it in any direction they want. 12000 hedge funds acting in concert in every market on the planet, that is the kind of market we are in.
I'm waiting for one of the banks to go under, we will have a 1000 point drop in the Dow sooner or later. LEH is no different than BSC, nothing but lies. It all smells like Enron and WorldCom to me.