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brewer12345 · 07-11-2007, 02:28 PM

Quote:

Originally Posted by Nords

I think I'll pass on that one. In fact my next question is why I'm still holding Diana Shipping, up "only" 3% today and 42% in the three months since purchase.

The structure of DSX' charters gives them more upside leverage from rising day rates. Day rates are really going nuts and could well take off into the blue sky, dragging these stocks with them, so I am not quite ready to toss all of these things over the side. EGLE made the regrettable decision to give charterers the option to extend some of their charters at the same rate, so they have modest exposure to skyrocketing day rates. DSX, OTOH, didn't give options away and intentionally set up a chunk of their fleet to be available to re-charter now. Worked out real well, given the huge bump in day rates.

Having said that, I will be seriously thinking about dumping my DSX shares if the stock gets over 26. Can always re-load (likely with call options) when they do the next secondary.

This industry will overbuild, no question. I have enjoyed the ride upward, but I do not want to be holding the bag when supply eventually overwhelms demand.

unclemick · 07-06-2007, 09:41 AM

Hmmm - do people 'actually' sell stocks

I keep them until they go broke or get merged - even when they change their names.

I am thinking about trying to sell some stocks every seven years whether I need to or not.

Still have EGLE and STON. Will try to rock up and sell at the end of my 7 year holding period as a mater of discipline - er or something.

heh heh heh

Nords · 07-06-2007, 05:32 PM

Quote:

Originally Posted by unclemick

Hmmm - do people 'actually' sell stocks

I keep them until they go broke or get merged - even when they change their names.
I am thinking about trying to sell some stocks every seven years whether I need to or not.
Still have EGLE and STON. Will try to rock up and sell at the end of my 7 year holding period as a mater of discipline - er or something.

I'm struggling with that problem all the time. Dell just claimed that computer sales will jump 20% next year, which presumably says good things about Intel's prospects. (And AMD's decline.)

I'm hoping everything stays groovy until I know whether I need to worry about my 2009 tax returns for the kid's college Jan 2010 FAFSA... but of course we should never let tax considerations wag the dog!

BUM · 07-09-2007, 08:08 AM

I unloaded my EXM Friday at the close. Why did I sell it, dunno. I don't remember why I bought it. Definitely hormonal. Not gonna do that anymore... and this time I mean it.

73ss454 · 07-09-2007, 09:21 AM

Yeah, I dumped out of DSX and EGLE at 22. Got out just in time to keep the capital gains down. (heheh)

I'm never selling winners again also, I promise.

Dawg52 · 07-09-2007, 01:39 PM

Looks like more positive news for shipping stocks.

Sector Snap: Drybulk Shippers Rise: Financial News - Yahoo! Finance

Dawg52 · 07-09-2007, 06:57 PM

Uh oh. I hate to admit it, but I was watching Cramer tonight and someone called in and asked about EGLE. He admitted that he made a mistake by not recommending the stock and now says the stock has further to run.

Signal to sell?

brewer12345 · 07-10-2007, 06:23 AM

Quote:

Originally Posted by Dawg52

Uh oh. I hate to admit it, but I was watching Cramer tonight and someone called in and asked about EGLE. He admitted that he made a mistake by not recommending the stock and now says the stock has further to run.

Signal to sell?

$25 and they can have mine. I'll even throw in my 20 contracts of december $22.50 call options for the low, low price of $3.

kumquat · 07-10-2007, 07:24 PM

Curious brewer? DSX has given me a good %age in cash and runup. Do you think there are other cash-flow plays that can beat 10%? If they keep the money coming, I really don't care about the price increasing.

brewer12345 · 07-11-2007, 07:13 AM

Quote:

Originally Posted by kumquat

Curious brewer? DSX has given me a good %age in cash and runup. Do you think there are other cash-flow plays that can beat 10%? If they keep the money coming, I really don't care about the price increasing.

Risk-adjusted rewards is what it is all about. Don't forget: dry bulk shipping is a highly volatile industry and share prices in the industry are extremely sensitive to changes in day rates. Annual volatility in the main index of spot rates is historically 40+%, far above that of the S&P 500. So while dry bulk has made me a lot of money, there will be a time to get off the bus.

In the meantime, the junk bond market has been selling off, so there are more plausible high yielding opportunities. The equity market has also thrown retail banks and mortgage financiers out the window.

Edit: Hmmm, day rates are now spiking higher and may well hit a new record, so it may be worth holding on a bit longer. We will see...

brewer12345 · 07-13-2007, 01:22 PM

Just blasted out 2/3 of my DSX at 25.95. Hanging onto the last 500 shares until 8/16, since that is where they go LT.

Nords · 07-13-2007, 01:31 PM

Quote:

Originally Posted by brewer12345

Just blasted out 2/3 of my DSX at 25.95. Hanging onto the last 500 shares until 8/16, since that is where they go LT.

All of my DSX profits were short-term, and how, but they were generated by liquidating a Nortel position.

I'm still smiling.

brewer12345 · 07-13-2007, 01:35 PM

Quote:

Originally Posted by Nords

All of my DSX profits were short-term, and how, but they were generated by liquidating a Nortel position.

I'm still smiling.

I would have liked to hold, but this has moved awfully far, awfully fast. I also have heard rumors that someone has agreed to pay $550MM for three capesizes. If true, it is an absurd price and it better not be DSX paying it. Unless they levered the crap out of the company, they would have to issue upwards of 20MM shares to finance it.

Dawg52 · 07-13-2007, 03:07 PM

I dumped EGLE and DSX the other day. No regrets. Nice profit on both. Thank you very much Brewer!

BUM · 07-13-2007, 04:54 PM

Quote:

Originally Posted by Dawg52

I dumped EGLE and DSX the other day. No regrets. Nice profit on both. Thank you very much Brewer!

Same here. Sold all today. Had a terrific long term run with EGLE and profitable quickies with DSX NM EXM and ONAV

DW and I will hoist a glass to Brewer tonight. Were shootin' the woiks at the Chinese Buffet tonight....mmmmm MSG.

Somebody said that his might not be a bad time for new money to enter into the drybulk sector. We'll see, otherwise this thread is headed for Davy Jone's locker.

JohnEyles · 07-14-2007, 02:39 PM

Quote:

Originally Posted by brewer12345

Just blasted out 2/3 of my DSX at 25.95. Hanging onto the last 500 shares until 8/16, since that is where they go LT.

That's my quandry too ! I'd love to take all the profit NOW, but
I don't go long-term until Halloween day. Perhaps I'll put in a
stop-loss order at 24 or so.

Perhaps the lesson is that this sort of short-term speculative move
should be done within some sort of tax-sheltered account. Maybe
I'll buy some KRE in my Roth ...