Market are behaving well in light of heavy profit taking......
Dow & S&P 500 are in green while NASDAQ is down 1.23%.....
Markets will build from here as news from US & around the globe is extremely positive for supporting banking structure.....
Once loan/credit picture improves...market will move HIGHER...
It is a very good time to build a strong diversified portfolio........
In my portfolio :
Bought UYG ..an ultra pro financial ETF..my cost $12.40
Bought NDN....a low end retailer for tough times..sells most things for 99 cents..my cost $10.74
PHM Down 37 cents
NDN Down 34 cents
SOL Down 43 cents
RIMM Down $1.66 cents
UYG UP $1.39
@ 11.49 AM following are green in my watch list :
HFU.TO,IPI,AAPL,KGC,C,TKC,IGT,NDAQ,
MA,SAY,AUY,ABX,GG,AEM,VLO,FSLR(upgraded),
SPWRA,ISRG,XLF,SNE,GS,IBN,FWLT.
BLOG does NOT give buy or sell.
Saleem
2 comments:
SALEEM and all
I Love my DSX pays me 16% read please:NEW YORK (AP) -- Drybulk shipping stocks accelerated Tuesday amid a shaky broader market, as a JPMorgan analyst suggested the stocks were oversold.
Analyst Jonathan B. Chappell said in a client note that he believes investors had sloughed off the shares in fear of the "complete collapse of the shipping markets" -- both in freight rates and because of the tight global credit market.
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"We do not believe this Armageddon scenario is likely to occur," he wrote.
Chappell suggests that many stocks appear "cheap" as they have been beaten down amid broader market turmoil and falling steel prices. Drybulk stocks tend to trade in tandem with steel and coal prices, as those are two of the major commodities carried by the vessels.
He noted Diana Shipping Inc. is the best value among drybulk stocks, with low debt and strong revenue potential because of planned ship constructions.
"We are confident that Diana has the financing in place to meet its current commitments, and we believe that its low leverage could provide an opportunity to further expand its fleet in a weakening asset price environment as banks may feel more comfortable with Diana's current financial position than those at many of its peers," he said.
In afternoon trading, Diana shares rose $1.02, or 6.6 percent, to $16.39. DryShips Inc. added 77 cents, or 3.4 percent, to $23.25. Eagle Bulk Shipping Inc. gained $1.31, or 14.7 percent, to $10.25.
Hi Madmax,
Thanks for your update on DSX & shipping rates...I am sure this is a very useful info for potential traders.
Saleem
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