Agree that Gartman is not very credible(ever,reminds me of a con man) but he will be correct eventually and imo the odds are better currently especially for drys. Nice to see ORIG stop recent selloff today, had to be hurting drys..must say with BDI's recent strength I thought drys be much higher at this time.
Shorted GM and bought new GMC pickup with just part of profits . Was a no brainer. Have to make more good bets than bad but also have to be lucky. Got "Paulsened" 2H 2011 being overweight financials and just recently have recovered.
Thanks very much apkagk, it would therefore appear that eps estimates such as 3.00 for 2014 may be understated if they are including income taxes.
I sold all my shares in aamrq in my IRA, sold half in taxable at 12.10 than bought them back in taxable at 10.70 and 9.55(nice). I did not want lack of liquidy and possible pps decline in my IRA...so far so good if market holds up looking at big payoff in aamrq shares.
From hitting the IGNORE keys so often to clean up the garbage on this board. Getting hard to filter the useful posts from all the pumpers/dumpers.. suggest the more constructive posters(and there are many) utilize the IGNORE feature.
Hope drys is not planning to also restructure, maybe reason suspended equity offering? Unlikely, but management needs to explain why they suspended offering...
Certainly was my #1 stock. Counting the phantom increase in my aamrq shares today I enjoyed my largest one day dollar gain ever in my accounts. Have bet big on LCC for past three years and finally paying off big and more to come imo.
Agree, I have noticed that rates do drop significantly almost every BOYear going back the last 5 years after rising into EOYear . That said, if rates stay VERY strong into BOYear imo it will be hard for the market to totally discount it as being entirely seasonal.
That certainly could be the reason also, would be nice if drys actually explained the reason so stakeholders don't have to speculate.
Obvious explanation for suspending the ATM offering is that the higher rates are finally generating or expected to generate enough extra cash flow to fund operations for 2014. But the PR did not state this so we are left to guess but odds favor a positive reason for the suspension. Yesterday's pps action disconcerting, entire sector sold off with strong US jobs report....has to be some explanation. If BDI drops Monday than have to conclude it was expected on Friday.