Well all the ones I've been holding, DSX, EGLE, FRO, and NM have rebounded very nicely. I'm wondering if its now time to lighten up alittle.
These stocks are up over 50% since March. I'm not thinking of selling all of them, just lightning up a little. I was adding when they were down and now wonder if they have gotten ahead of themselfs.
The stocks are way behind the surging fndamentals. I intend to hang on as the media alerts the retail rubes that things are great in the industry and then I will sell when the idiot crowd rushes in and bids up the stocks. Expect this to happen within a few weeks to 6 months.
And what is a target on NM?
And what is a target on NM
I believe it is worth $20 to $25. Having said that, let me give you an important caveat. There is currently a massive squeeze on for ships, to the point of a dire shortage vs. the cargos that need to be moved. If the squeeze goes further than I am expecting (think BDI north of 15,000), the stock may be worth considerably more. As an example, take a look at the coal companies. A year to 18 months ago, ANR would have been overjoyed to sell a ton of met coal for $100. They recently sold a ton for $240. A stock that I thought last year was starting to look pricy in the 30s is now well north of 50.
Ran across this article on marketwatch. Summary is: A daily gauge of ocean shipping rates that serves as a widely-followed leading economic indicator has roared back to new highs after dipping earlier this year, highlighting both the resilience of the global economy and surging inflation pressures.
-CC
If the squeeze goes further than I am expecting (think BDI north of 15,000), the stock may be worth considerably more.
In hindsight, I should have sold
Lance
I bought NM Sept $10 Calls @ $1.90 a month or so ago. I was waiting until NM hit $15 to sell and almost sold at $14.50?
I hope I won't be waiting too much longer for NM to get back up there?
In hindsight, I should have sold at $14.50 and I could have re-entered now. Oops.
Lance