G.ay ~ Looks like you pulled the trigger a bit early but no one ever went broke selling for a small profit ~ Problem I've got is my cost average is too high (about where we are now) otherwise I'd probably be following you out the door as well ~ With that said we all know how fast shipping stocks can move in either direction so I'm holding on for a while longer ~ Held this one too long top not make a profit so I'm hangin around until the $7-8 range ~
So far it's been an almost classic intraday cup-n-handle formation. I restored my trading position on the p/b below .50 this AM, now riding the bid with a stop just under .60 to lock in my usual minimum target of 10pennies. (These are just trades. I've a long term basket with a nicely lower basis around which I trade).
Bid now .67. Looks like it's going for +.70?
I think you got out way too early. It's good to be greedy at times. This is one of those times. The fundamentals for this sector has changed dramatically over the last 3 months. This stock isn't even 1/3 of its book value and even cheaper if you take into consideration the 60% stake in ORIG. I don't see any reason why this stock can't hit $20 this upcoming year.