Let me be clear to all the folks out there playing the FRO, looking to exit on a quick “black power” move to the upside. I couldn’t care less if the stock closed at $3 or $2 today. “The Fly” is in the name for the big turn, which will take a long time. By my accounting (unaudited of course), the company can withstand market conditions, without going back to the market for financing, until 2015. With that in mind, there is ample room for speculators to place bets on the shares turning around from now until then.
If they’re successful in purchasing new fuel efficient ships and day rates pick up, the stock is heading for $10+. Therefore, a person, such as myself, doesn’t amuse himself with the frivolities of a one day spike, burgeoned on by nameless speculators– who are only interested in quick–whore like–profits, promulgated by their proclivity for illegal substances and extra-marital affairs!
“No thank you,” said the gentleman in the top hat, as he declined the services of a great whore, closing the backseat door of his limousine, destined for the theatre.