BOATS and $HOS

I have liked the constructive action in shippers for a solid 6-7 trading sessions, first grabbing a win in EGLE then being persuaded by the candid Randad to consider looking elsewhere.  I did not have to look much further to find BALT, a company thoroughly researched by the blogfather himself, and a chart just as enticing as what I was seeing in EGLE.  Well, not quite, but a better financially positioned company nonetheless.

I started buying BALT last week and went full long on the name today.  The price action started working, then I added, then I came to find out there are DEALS going down in the shipping lanes as SBLK bought OceanBulk this morning (h/t PPT member @momono and 12631 member @equalizer).  As it has been described, a world of liquidity sloshing around, trying to find a home, it is a pleasure to see these loose funds finding a home in shippers.  The industry continues to be the beneficiary of rotation.

Who the hell wants to buy shippers with the Mideast going to war?

I have no idea.  I can tell you with absolute certainty one tactic that saves me tons of time and keeps me from going bananas—I stopped looking for the “why”.  It is a very human tendency to get to the bottom of everything, to find an absolute, an answer to every question, a perpetrator for every injustice, and an environmental theory to explain our climate.  If you ask me why shippers have gone up over the past 10-12 days then expect a simple answer, more buyers than sellers.  If you want me to put on a show, then I will make up a funny story to please your monkey mind.

Into the bell, BALT was my second largest position behind only my Twitter investment (RLOL).  I took short dated risk in TRIP, bought some RGSE, and closed out FEYE for a 15 bagger.

On these big waters, I like driving my small fast boat.  Stocks need to work early and often or they are gone.  I am talking to you, KING, get your act together.  Note: talking to and personifying your stock positions if very NOOB.  With my behavior in mind, watch your risk because a post with this much swagger usually portends calamity.

For now, enjoy the prosperity like it is 1986: