Q2 earnings came out on July 21 last year. Looks as if the thing to do is sit in cash and then buy a few days before July 21 in order to benefit from an earnings beat. After that, on or about Aug 4, GSL reports and one can play the same game.
How could I be "financially devastated?"
Yes I lost money believing Angeliki's lies, but then I made it all back by trading the stock. If only I had never believed her lies and had instead stuck to only trading, I would have doubled my money instead of just eeking out a small gain. Lesson learned though: don't trust Angeliki - instead trade the wild price swings.
I'm still expecting NMM to go below a dollar, but not until there is a general market sell-off. As for how high it could go - that depends upon the manipulators. Look at PRGN, an almost bankrupt shipping company that has now been delisted, manipulators pumped it up to $4. Or what about a Chinese scam such as BSPM that is losing money hand over fist? Manipulators just pumped it up to $6.50 on nothing whatsoever. All the manipulators need are a lot of Shorts to squeeze.
For now there's no reason to believe that NMM will be delisted. Like SBLK they can do a reverse split.
SBLK just announced. 5 for 1 reverse split. It will be important to watch how the stock eeacts after the split in order to get an indication of what will happen when NM if forced to do likewise.
Since I believe that another recession is just around the corner ... of course I would advise selling.
What would I buy?
Now there are and will be some great trading opportunities; look at FCX, or look at the recent VXX spike. But long-term I can't advise buying anything.
Until the current Central Bank bubble bursts creating incredible bargains as I saw in 2009 - how can I?
It's way too dangerous right now.
Although I have been trading the last year - I've also been sitting mostly in cash. Look at markets - they've got no where and at least I didn't have to worry.
That said - remember I was wrong about NMM and Angeliki not cutting the distribution twice in a row. So why take my advice?
Well everyone told me I was wrong - just a stupid "Basher," yet NM did get another delisting notice just as I predicted. Next up will be NMM. I still expect it before year end unless Angeliki can really find a way to cook the books. In Q3 earnings will be negative.
Everyone told me I was wrong when I said NM would get yet another delisting notice ... yet here it is. So will they do a 10 for one reverse split or what? Here's the notice:
Navios Maritime Holdings Inc. (“Navios Holdings” or the “Company”) (NM) announced today that on June 7, 2016, the Company was notified by the New York Stock Exchange, Inc. (“NYSE”) that it is no longer in compliance with the NYSE’s continued listing standards because the average closing price of the Company's common stock over a consecutive 30 trading-day period was less than $1.00 per share.
I'd love to know how I can get paid for my posts. Can you tell me? It would be nice to make money for being a "Basher." How do I get paid???? Who do I contact???
Nah, I'll follow ikky bikini and wyoming betrayer's advice. They say that in 3.5 years HMM will pay full price. Also the CEO of SB reminded investors that it took 4 years of no ship building before tankers recovered after they overbuilt. So yes in 3-4 years there should be a recovery. Prices will anticipate that by 6 months to a year. That means it's way too early to buy now. Patience is key. I'll take another look in 2018.
I think you are right Ben. In 2019-2020 they could put out .05/share. In a few years I'll pick up a few shares near 50 cents and get a 20% annual return along with a 600% gain when the price rebounds to $3.00. Just got to be patient.
As for "bashing." Well I've been called that name since the stock was at $20. I was told I was "crazy" then and ever since. Looks like I'd get some credit for being right. But I never do. You really think I'm worried about missing anything?
Are you forgetting that I am in the same camp with Soros and now Bill Gross? The current Central Bank bubble will implode. All I have to do is wait again for the bargains as I did in 2009. Things will be fine for me as long as I don't get greedy now. PATIENCE!