Friday, February 6, 2009

Economy slumping ....but Market is UP !!!!!

Job picture is getting from bad to worse.....lost 598,000 jobs & unemployment is @ 7.6%.In Canada job loss today was 129,000 vs expected loss of 40,000 more than 3 times worse than expected...In Canada unemployment jumped to 7.2%.....so ...the entire North American economy is taking it on the chin....

But Market is UP.....

WHY.....

Because IMHO we are CLOSE to the bottom of this downward economic TSUNAMI.....so Market WANTS to look AHEAD to better NEWS in FUTURE......

In my portfolio :

GERN UP 24 cents

TOL UP $1.82

XLF UP 47 cents

Most stocks & sectors are UP today.....

GOLD Unchanged....

Oil Down $1.70.....

Nasdaq is well ABOVE 50 DMA...& higher than recent HIGH...a very STRONG technical picture !!!

Dow is lagging technically but S&P is almost READY to go ABOVE 50 DMA.......

BLOG does NOT give buy or sell.

Saleem

10 comments:

standardshigh said...

Hi Saleem,

BDI hit 22 year low of 663 in Dec 08. Chinese government stimulus plan giving big boost to BDI. Fresh coal and iron ore shipments to Asia from Australia driving rates higher.
Looks good.

Best Regards

Stocks100 said...

Hi Standards,

Thanks for your ongoing updates on BDI & rationale behind it.

Which Shipping stocks looks attractive NOW..give me @ least 1,2,3 best ideas !!!

Thanks

Saleem

standardshigh said...

Hi Saleem,

With rates rising, GNK,DSX,DRYS

DRYS got a sweet deal on their loan repayments, the banks want them to survive and thrive. Up coming spin off of their oil business. At $6 worth a play.

Best Regards

Stocks100 said...

Hi Standards,

Thanks for your 3 top picks....

I may look into buying @ least one of them @ the right price !!!

Saleem

madmax said...

HELLO to all

Here are the shippers that I follow

SSW DRYS DSX ESEA EXM EGLE FRO GNK HRZ NAT KEX KSP TNP GMR VLCCF

SSW is a goodie as is DSX I am unsure if DRYS is stable as they owe lots of money and may have to sell ships to stay afloat---PUN!
DSX suspended it DIVI so it has cash-which is king!

This is what IBD says:
Top 5 Companies in the Transportation-Ship Group Stocks Above $10 - Sorted By Best Overall Rating
Intl Shipholding Corp ISH

Diana Shipping Inc DSX

Teekay Tankers Ltd Cl A TNK

T B S International Ltd TBSI

Genco Shipping & Trading GNK
Good luck I got lots of DSX at $20 still holding

Stocks100 said...

Hi Madmax,

Thanks for your input based on IBD ranking.....

Based on tape..GNK is the strongest...do you know WHY GNK is behaving the-best????

Saleem

standardshigh said...

Hi Saleem,

Not sure why GNK strong on tape. I bought on low, now I'm black.
DRYS doing right thing by cutting back quickly. Billionaire owner has friends helping out in high places. Bottom somewhere around here. May dilute common soon. Owner buying warrants to buy shares at 20-30 range within 5 years. Why? Lots of maneuvering.

Best Regards

standardshigh said...

Hi Saleem,

BDI up +142 to 1640 from 1498 Thurs.

Best Regards

Stocks100 said...

Hi Standards,

Thanks foryour update on BDI & DRYS analysis.

Saleem

madmax said...

HELLO

IBD says GNKGenco Shipping & Trading (GNK) Ratings as of 2/7/2009 THIS IS AN AMAZING RATING--I believe that this is what is driving interest in GNK

Earnings Per Share (EPS) Rating Relative Price Strength (RS) Rating Industry Group Relative Strength (Grp RS) Rating Sales + Profit Margins + ROE (SMR) Rating Accumulation/ Distribution (Acc/Dis) Rating
98 35 D+ A A
Genco Shipping & Trading has outperformed 98% of all publicly-traded companies based on its short and long term earnings growth rates. Genco Shipping & Trading has outperformed 35% of all publicly-traded companies in terms of its stock price performance over the last 12 months. Genco Shipping & Trading belongs to an industry group that has performed in the bottom 40% of the 197 industry groups tracked by Investor's Business Daily, measured over the last six months. Genco Shipping & Trading rates in the top 20% of all publicly-traded companies based on four fundamental factors used by many analysts today: a company's sales growth rate over the last three quarters, before- and after-tax profit margins, and return on equity (ROE). Genco Shipping & Trading stock has been experiencing heavy buying, based on its daily price and volume changes over the last 13 weeks.