It was an all around bad day, for HORATIO CLAWHAMMER. After being elated with fresh 52 week lows this morning in both AG and JCP, they spring boarded higher–as degenerates shuffled into the 52 week low list, trying to bottom feed some crumbs from the gravel.
On top of that, my last remaining position of size, FRO, took another blow–as shipping rates continue to slide. They were going up for weeks, coinciding with share price recoveries. But now they’re heading lower again.
FRO is refusing some cargo because they are losing money on shipping goods. There are so many ships out there, pirates navigating the seas, the entire industry is going to bankrupt itself. It’s beyond absurd. Back in 2008, these clowns were getting paid over $200,000 per day: now they’ll be luck to get 10k. Nonetheless, some people think rates could be bottoming, as supply disappears due to broad ranging insolvency.
FRO locked up its financing and doesn’t have any near term maturities. Therefore, it’s a lotto ticket without risk of default, any time soon.
I’ll be watching rates ever so closely and keep you appraised if and when there is a sea-change (pun intended).
I was down 1.3% for the day, despite having 60% in cash.
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FRO=fro your money away
GNK=junk
Both garbage stocks. Wish I never heard about either of them.
GNK is pronounced Gunk.
Even I know that.
“Soft” G as in Genco junk.
baby
Last time it was “bozo,” now it’s “baby.” How about “stupid moron” for ever listening to someone who bought it and then following suit.
Ok, stupid moron. What are you looking for, sympathy?
Not really, just a word to the wise to not buy everything touted by Senorita MinuteMaid in that she is not an infallible goddess despite her claims to the contrary.
As you sit there launching barbs at me, I flick cigar ashes from my cigar in your general direction.
Last I checked, I haven’t booked a loss in fro. You are a weak hand and should never buy lotto stocks.
I did not barb you. I was referring to Señorita Minutemaid. Please don’t shoot me with your rotating interstellar howitzer.
Own the trade.
As I , and I’m sure many others, also did with HIG, FXI, BV, ZAGG, ANR, YOKU, HLF and countless others.
I don’t believe I’ve ever owned fxi.
Sure those stocks were losses. Am I supposed to make money on all of my investments? Perhaps you need a good fortune teller.
For the record, most of those losses were under 10%, some under 5%.
You could always stop putting real money into trades that you are taking from an anonymous blogger on the internet. Kind of lazy.
Yes, she is an anonymous blogger at the site MeFinanciallendinginstitutionMetallicmonetaryunit.
Enough of your petty weakness.
I cleanse you from these halls for having shallow pockets.
Banned.
No, you didn’t own the trade. Once you buy a stock it’s your responsibility – it doesn’t matter where you heard about that stock. I don’t think you’ve defined your trading style.
They were losers from the getgo.
Not true. Both went up after I bought them.
It is my firm belief that all men need a ship.
YAAAAAAAAAAAAAR.
“I’ll be watching rates… if and when there is a sea-change (pun intended).”
Don’t hate on the blind.
Hwua Haaa.
Dr,
Hat tip to you!!!
Look at the NIKKEI!
This was yet one of the most amazing predictions of yours.
You were so right!
Mr.P
It also is very bearish for other asian markets and US manufacturing, specifically autos.