Gartman has been recommending since Nov/14
It was only a few thousand shares. 9 thousand in total and most of those traded at the Closing price.
Smart people consolidating the Market.
Taking Tankers away from weak hands.
This is not a time to day trade this stock. Something is up.
Short Interest is dropping as well.
I don't see why You have to trade out of this stock.
Hold /collect increasing Dividend. Oil Shipments are rising and Tanker inventory controlled by fewer hands is in control for the first time in 6 years.
If You look at the Nasdaq Site the Short Interest has Fallen to just above 6 million Shares. More pain coming for them.
I am not concerned about the Day to Day action except for entry. This is a big long cycle.
Supply and Demand on large capital with global demand for Cheap Oil increasing. This has nothing to do with Contango. I am looking for a 2 Year ride with Dividends, Short Squeezes and Private Equity Participation.
The weak hands will be forced out first.
I would say that going forward a percentage should be built in for Ship Payments.
I find it amazing the number of people that still think this is a Contango Play. There are no ships being used as storage right now.