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Navios Maritime Holdings Inc. Message Board

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  • phonodelic phonodelic Aug 3, 2011 10:05 AM Flag

    What happenned

    I guess the dictum is to buy when blood is running in the streets, and sell when everyone is bullish. This may not be the bottom yet, but everyone is so negative, this is prob. a good time to be thinking about buying

    Re NM going back to below $1.50, that happened at the worst of the financial collapse, when the BDI went to 666 (mark of the beast! LOL)

    At that time, spot rates collapsed, and thousands of ships were parked, as no letters of credit were being issued. Can't see it getting that bad again, partly, because, once burned, the industry and banks will try to prevent the market from seizing up again. Maybe NM goes to $3, $2.50 at worst, I think. Then load up.

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