Hey Kem, haven't been here in a while (really just waiting for 2014) but had a peek and saw you mention CLF. After a huge div. slash, 1B of dilution and a massive goodwill writedown in Q4/12 this one's been beaten to a pulp. I got in too early with 1K at 25, but picked up another 2K at 18.50. They were being priced for BK (sound familiar) but they paid off 1B in debt and had a really reasonable quarter. Maybe after Q1 ugliness in DRYS is announced, the cash generating potential of ORIG will make the market realize BK is not bloody likely here too.
You got it. I bought CLF in the 17s yesterday and I did sell it today and swapped into ANR. I think they are somewhat analogous with DRYS. Hope you saw my other one showing a new drybulk company formed. Why would anyone go into that business and what bank would lend them money if the drybulk business were as bad as Fraudio says? Silly