Nasdaq is showing relentless leadership with another green day......
Nasdaq is giving clear indication that recession is coming to an end and we are in a bull market....techs are heading much much HIGHER.....
Gold is UP $1.40
Oil is UP .50 cents to $62.95
Canadian $ is UP again against US$ Up another 51 tick and challenging 90 cents US....
VIX @ 29.73 down 2.91%...going in the right direction...
In my portfolio :
Added 50% more MRVL (reports AH Thursday)....
Added 50% MORE MPEL City Of Dreams Opens June 1....
Both stocks are rated for breakout by www.stockconsultants.com
Portfolio remains MRVL,MPEL,PMCS,PALM.....
Mr Roubini after bashing US & World economy that world economy is in total collapse?? is now PREDICTING recession ending in US by end of the year...also predicting robust growth of 6% in China ......saying Asia will lead in growth..I guess we knew all that for a long time now...PHD's makes you a "slow learner".....us "street smart traders" sensed all that back in March......
@12.12 following stocks are strong:
PMCS,MPEL,MRVL,SNDK,STP,TSL,AAPL,RIMM,
AMZN,IBN,FXI,GOOG,BIDU,GS,MA,V,ICE,X,CSIQ.
BLOG does NOT give buy or sell.
Saleem
9 comments:
SALEEM et all
Here is a story on my Frontline Shipper:
Frontline sees reasonable Q1/Q2 day-rates
Wednesday, 06 May 2009
Tanker shipping group Frontline said freight rates looked "reasonable" in the first and second quarters of 2009 and will be reflected in quarterly earnings. "We have had a pretty reasonable first quarter, which we will report on at the end of May ," Frontline's Chief Executive Jens Martin Jensen told Reuters. "Rates in the second quarter look reasonable so far as well," he said.
Jensen added that he had not seen "much" of loss-making freight rates which have reportedly hit other shippers.
According to last Friday's weekly report from broker Bassoe, freight rates for tankers were stable around $21,000 a day for VLCCs (very large crude carriers) from the Gulf of Mexico to Korea last week, which would mean losses for most ship owners.
Shares in Frontline -- the world's biggest independent oil shipper -- rose 19.1 percent to 157.25 crowns by 1249 GMT.
"This has puzzled me as well, but this market rose in the U.S. on Friday, so I assume this is a natural follow-up from the share price development in the U.S we are seeing," he said about Frontline's rally on Monday.
Analysts said there were no changes in fundamental market factors that would explain the surging valuation, but that it played well into a broader "economic recovery" rally.
"Speculation that the economy has bottomed out is also triggering the rise," analyst Rikard Vabo at Fearnleys said.
Dry bulk inches higher
Freight rates in another shipping segment -- the dry bulk market -- plunged more than 90 percent during the second half of 2008, but have shown signs of life after hitting April lows.
The Baltic Dry index, which tracks shipping prices of key commodities, rose 1.1 percent to 1,806 points on Friday, rebounding from levels around 1,550 reached in mid-April, but still far below the life-high 11,793 points from May 2008.
Shares in dry bulk shipper Golden Ocean rose 13 percent to 5.75 crowns. The head of the company said it was comfortable with the current freight rate level.
"We can live fine with the market we have today, and (we) think the rates are completely acceptable," Golden Ocean Chief Executive Herman Billung told Reuters.
"I am not aware of any company specific (news) with the potential to affect the shares this much today," Billung said.
"It could be a combination of the improvement in the bulk market and that it looks a bit better on some raw materials."
Billung said he was hopeful about rates moving forward. "My view on the Baltic Dry index is quite positive right now."
Golden Ocean said in April it would raise $110 in new equity to save itself from running out of cash as well as delaying or cancelling some orders and alter the terms of a loan agreement.
Shares in smaller peer Jinhui Shipping rose 9.5 percent to 14.45 crowns
I like these guys and have anticpated a bigger run up by now.
NOT
Hi Madmax,
Thanks for your update on FRO....
Most shippers are UP today $$$$
Saleem
Hi All,
BDI +222 3164! Yahoo! Strong!
Best Regards
Hi Standards,
GNK has been the-best performer in that sector$$$$$
No wonder you are saying Yaahooo !!!
Saleem
Hi Saleem,
Look at charts for GNK on stockcharts
break out today. Looks like all indicators turning positive. Price target 31.
Best Regards
Hi Saleem,
There are 3 types of breakout groups on stockconsultant on the prescreen, which do you look at? thanks
My HDB bank is gone wild! 43 to 100!
target 147. Still in red for me. But things are looking up.
Best Regards
Hi Standards,
I go to stockconsultant and enter my stock ticker and press consult...
It gives a rating on top left and breakout flash on the top right...
Then you scroll down and you will see an explanation of breakout with breakout point & target....
Scroll further down ...all on the same page.....
It gives you details of resistance & support.....
That page all gives you 3 day chart plus a one year chart.....
Extremely detailed & comprehensive..
One ticker @ a time !!!!
Hope it helps !!!!
Saleem
Standards
Look at my FRO
Frontline is rocking again!! I am still in the red
My APPLE is zooming on the up grade they got.
iPhone and iPod are selling like hot cakes
Hurray
Hi Max,
APPLE is a keeper, until it hits 200!
Like your FRO, sweet dividends. BDI looking positive, should help all shippers. Even DRYS may come out of the dog house later this year. Prices are returning to DOW at 14k level, but we're at 8300? What will happen when this market finally decides to go up? $$$$$$$$$$$$$$$$$$$$$$$$$
Best Regards
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