oh without question i myself have increased my vitamin intake just to thwart off any illness or imbalance that stems from WLT's manic price fluctuations.
beto/bullz - good to hear your thoughts and I agree with you both. dry bulk shipping took a beating, big boys are garnering the attention right now but when buyers see these stocks as "expensive" their eyes will wander. When this happens and if we can continue positive BDI movement, ESEA will start its rise.
I too have been building the past two months and am going long on this as management has a style that I prefer; financially thrifty and positive about the long-term outlook.
As always, all the best, regardless of buy/hold/sell position.
rurkey - you mean LONG for only tomorrow, i.e. from market open to market close? haha..or all in LONG period. :)
"Environmental Protection Agency Administrator Gina McCarthy on Monday said her agency would give states great flexibility in meeting new requirements for carbon emissions from power plants.
The coming standards for both existing and proposed coal-fired power plants have been criticized by Republicans, who say the new rules will hurt the economy. The new rules are especially anticipated in the heavy coal producing states of West Virginia, Kentucky and Ohio."
And my fav part:
"McCarthy said the agency would be "really flexible on the implementation of these standards" with states."
Shipping costs for raw materials and agricultural products advanced the most in 11 weeks as strengthening demand for vessels to load iron ore caused freight costs for the steelmaking raw material to surge.
The Baltic Dry Index climbed 9.3 percent, the most since Sept. 9, to 1,719, according to the Baltic Exchange, a London-based publisher of shipping costs on more than 50 trade routes. Daily rates for Capesize ships that mostly transport iron ore jumped 22 percent, leading gains, to $21,719. Charter rates rose for all four ship types tracked by the bourse.
“There’s plenty of demand versus the number of ships out there,” Steve Rodley, the joint managing director of GMI Resources U.K. LLP, a London-based trader with 52 vessels, said by telephone today. “First and foremost, it’s about classic supply and demand.”
While demand strengthened, some vessels may also be delayed in Asia, according to Rodley. GMI had to divert one of its ships to refuel in South Korea following an explosion last week at Qingdao, a Chinese port city, he said. The deviation added about two days to its voyage.
Supramax ships, most of which are fitted with cranes to load and unload cargoes, advanced 1.2 percent to $15,247 a day, their 52nd consecutive increase. Panamax vessels that are the biggest to navigate the Panama Canal rose 6.8 percent to $12,880, according to the Baltic Exchange. Handysizes, the smallest vessel class, added 1.8 percent to $10,747.
I want to see before the end of January ESEA's ship purchasing plan if not one that has at least been partially executed.
I have NO idea how long this sort of thing takes, but an idea of where they're headed would be helpful. Timing is critical, acquiring ships right as the BDI increases will be a fantastic positive for this thing. I'm currently down overall, but am long and the one of the only reasons I moved cash into this was b/c of their financial stability and low overhead when compared to peers.
It may very well be bc of news this morning on the BDI rates going up. I didn't go look myself, but it was on CNBC and the news caster worded it as if it were a significant increase. Most shipping stocks saw a strong uptick today.
I dunno, that's my guess. You can find the video if you look up DRYS then look for the video from CNBC titled, "big jump in shipping stocks".
Ageed, and per the latest Nasdaq short listing today for 11/15 it appears we added about an additional 650k in short shares. tick-tock...tick-tock...the clock ticks and tells of time winding down for these guys. Well, at least that's what my take.
don't blame you at all for getting out before the holiday. i'm gonna let this ride and wait for the eventual upward swing which will happen at some point before this time next year. :)
Happy Thanksgiving to you bud and of course all the best with your trades.
my return on WLT since our drop from 19 has been about negative 18k, so i'm fairly bummed. this thing really gets my blood boiling. ah well, there's always weekend beers.
yah, i'm with you on that, but it's not at 19 any longer. and what happens every single time i sell in this sort of situation? i'll tell you what, the stock, this or any other shoots right back up. I sell it goes up, and i'm sure this happens to others. So, I could take one for the team and sell, but the holiday's are around the corner and and I'd just be kicking myself with turkey in my belly and eggnog in my cup.
So in the holiday spirit, eff you WLT. :)
good question. the readout wasn't horrible and in my opinion it presented some good insight into what they're planning on doing in the near future especially around acquiring additional ships and putting their money to work where it matters most.
If they increase their investment in the container ship area and focus their resources on growing their dry ship business AND maintain their low cost of operation then they have a good shot of turning some heads in 2014. The question though is by how much.
These guys are down but not out by far. They'll turn it around in time.
Just me rambling. This board is quiet enough I thought I'd speak openly.
Agreed and I hope you're right. I entered in at $1.75 and don't want to see a slow bleed situation. I do believe over the next 6 months we'll see upward momentum above $2. Sleeper stock indeed.
It's a small-cap shipping stock, it's not generating news, it's not garnering attention, it's just doing it's thing waiting for folks to exhaust interest in other shippers. Fundamentally they're just fine, so yes in my opinion it's a matter of time, but I suppose that's the question isn't it....how much time?
Either way, I'm in for the long haul and would love to see it between 3-4 by end of next summer. Other than that, I have no other take on this thing, it's just as elusive as a stock can be, so I'll sit tight; not really worried.
haha..awwww. I think we're just a bit bummed at the obvious which is when it comes to a dry-bulk shipping play most folks are on the bandwagon for other larger carriers such as DRYS, NM, SB, etc...I'm of the opinion that only after the flock has raised the pps for those stocks will they start to fan out.