Let’s get ahead of the curve, shall we? Today, SALT is coming public. They are going to raise over $250 million for the explicit purpose of buying Dry Bulk vessels. Its been a long time since a dry bulker came public. I want you to pay attention to this, as it represents a sea-change in the sentiment that has been decidedly bearish behind the chinese wall at our finest investment banks.
This brings me to my next point: Dry Bulk shipping rates are up again this morning.
Let me ask you a question. Why would DRYS cancel an “at the market” financing for $300 million? The answer is childishly simple.
a. they believe business will pick up, appreciably.
b. they feel their share price is undervalued and would prefer to initiate an “ATM” financing at higher prices.
DRYS owns 10 Capesize vessels, and over 40 vessels in total. BALT owns 15 vessels, with an option for another 2. Of the 15, 4 are Capes. With capesize rates approaching $40,000 per day, thanks to a late year push to deliver vast amounts of iron ore to China, both of these stocks are buys. I also like PRGN, but haven’t done much work on it yet.
As an aside, fat women have ruined LULU. Chip is gone and the shares are reeling following a bad quarter. This sell off will likely represent a buying opportunity, but not yet.
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Rates will go back down as soon as the year is over. That’s why the shippers aren’t rallying more.
You are a stupid man, Jennifer.
BALT positioned for the big score,,,not playing for a few $$
LOL 😛
Nice, resorting to name calling huh? Rates go down every year after the Chinese are done hoarding iron ore. This year will be no different and you pumpers will get crushed again.
Jennifer
Put your money where your mouth is. I’d like to see you short BALT, just for the novelty of it all.
You are neglecting the massive amounts of met and steam coal the Chinese and Indians will be pulling in this year. Many coal burning power stations coming online 2014.
Jennifer
What you say is factually wrong. As a matter of fact, it is the exact inverse of reality.
http://www.bloomberg.com/quote/BDIY:IND/chart
Notice how the BDI went LOWER every December, before the new year?
It ALWAYS has a late year rally whether it’s in November or December…and then tanks. This year will be no different and you pumpers will get smoked again. I can’t believe people are so naiive
What do you mean you people
LOOK AT THE BDI CHART. YOU ARE MAKING UP YOUR OWN FACTS.
I am looking. Every fall it rallies and then crashes after then. Are we still in the fall? I don’t know for sure but when does fall end?
fall ends dec 21st, yes its still the fall
You must have a problem with your eyesight.
And relax with your winter solstice. If you want to be technical like that then just admit it goes down usually in December.
This is an exercise in stupidity. Bdi is down 90% from the highs. Of course it has gone down.
The difference is fundamentals have changed. You will see.
fundamentals have changed? oh yeah i guess they have. no one wants coal anymore.
Not so much about coal.
Fleet growth is stymied at 4%, at a time when Chinese iron ore demand is moving towards 10%. You are basing your opinion on prior results. I am basing mine on a prediction for the future. May the best man win!
ahhhhhhhhhhhh!!!!
I’m getting smooshed!
antidisestablishmentarianism
supercalifragilisticexpialidocious
BALT is the single largest position i’ve ever held in my stock trading history. I’ve since pared it back to just large, with a side shot of option calls.
financing of the position made possible by After Hours with Option Addict. extra ibankcoin.
Why not just load up on the stock? The spread on low floats is quite significant and you pay less commission.
you and dennis gartman love shippers
after NSTG..i would just quietly follow along BALT and let it play out,obviously Fly is on to something here
what was the that stock you almost took to the grave at like 2 bucks with over a million shares then bounced all the way to 20?
FTK, in at $1
Right on!
52-week highs on Balt soon, thing’s gonna go simple jack today.
Been long huge size of DRYS since last November. Gonna retire on that puppy next year.
betting against Senor Fly? – unadvisable!!
“include favoring child labor, his disdain for the ability of the Japanese to speak English, a love of Ayn Rand, and his opinion that The Pill created a generation of divorce-shattered women now seeking empowerment through yoga.” HAHAHAHA
fundamentals have changed? oh yeah i guess they have. no one wants coal anymore. BDI will be back below 1500 soon.
No one wants coal any more? There’s over 1000 proposed coal fired plants worldwide. you are clearly completely ignorant.
I don’t need to see fat wimmen in Yoga pants.
Awesome. back in BALT… let the tide RISE
Looks like I was right about BALT. Down 3% now. The rise in BDI is unsustainable. It will fall down like it does every year after the fall is over.
Keep in mind that as long as this guy pumps BALT it will not go up. There are bigger forces at work that hate pumpers.
i think you’re gonna be (pumped) pimped to the Banned group in a sec.
(s)he sounds more and more like a retarded troll who doesn’t know when the fall ends. Bet against The Fly and get your torso pow’der-chested
Talk is cheap.Short it please and move on and stop talking. Or are you a scared little girl with your short position between your legs fearing a rip your face off rally?
Bet with your money not words and quit with your dogma about how something should go down just because it has before.
You remind me of the people that said, “this internet thing will never catch on, no one was on the net before the 1990s so it’s just a fad”
oops that was supposed to be sent to the man named Jenifer
The day’s an hour old you fucking idiot! Look at yesterday afternoon!
Wow, this is embarrassing: “Are we still in the fall? I don’t know for sure but when does fall end?” The seasons are thought in 1st grade or maybe per-school.
Let her talk. Women will be women .
LOL, here in the fall/winter
or spring/summer if you live in the southern equinox/hemisphere….
it is “that time of week/month/year again”
The BDI isn’t the only thing that “cycles”.
lol that’s pretty funny
The other thing you pumpers compare the BDI to is the highs at the 2007 peak. You do know that was the biggest bubble in the history of shipping right? Saying it was down 90% from then is like saying the Nasdaq was cheap in 2007 because it was down 50% from the highs.
Jennifer, chill out. I don’t ban women because it’s not the gentlemanly thing to do. However, I will chastise you, rather severely, if you keep it up. Thricely.
Just tone down the pumping and calling me stupid ok? No one likes either.
Ok, I take back my insults. You must understand I am accustomed to barbarian men who try to kill me on a daily basis. I will be civil with you, up until the point when BALT rips your lovely face, clean off your skull.
Again, I apologize for my unseemly behavior.
A pumper goes on radio+TV shows like Peter Schiff rather than remaining a recluse on his own blog getting trolled by people with short positions that are desperately trying to talk down the stock or whatever your agenda is.
You are providing one example of price fluctuation in all of history, it means nothing.
I can give anecdotal evidence too, how about the bitcoin when it was down 90% and I think the price around then was $20 or something then? How about in 1932 when stocks were 90% off their highs when dow made a low that will stand for over 100 years.Both of those could be said to have been after monster bubbles.
Jennifer, Please tell me/us you memorized all the names of the shippers back in 2007..
😉
(this thread is pretty d@mned funny, alright)