per the head pumper (i,e "The Fly"):
"I sold down more of my BALT and now hold very little. My opinion changed when the facts on the ground changed. If you followed me into BALT, you’re still up big, so no complaining."
Keep in mind this was the same person that was pumping the stock incessantly one month ago while quietly selling his shares to his unsuspecting readers that were buying it.
I think you for your impatience. I had been lurking waiting to get long BALT for a while and am glad the head pumper finally bailed - this was the last catalyst to get me very bullish on this stock. The reason why people can't make big money in the markets is they lack patience. Did you know that at today's spot rates for an entire quarter, BALT will be able to pay a dividend of $0.20 per quarter when they have all of their new ships on board? Keep in mind that within 6 months they will have a fleet expansion of almost 100% vs Q3 2013.
I hope you have more shares to sell "Fly" because I will be loading up more and more.
Just guessing, maybe he meant coal is the new superfuel of the future and transporting it is a lucrative business despite a model which dictates a new ship must be bought each month in order for your busy fleet to remain competitive? Full steam ahead!