Indices are @ the highest level in almost 21 months......
S&P 500 crossed much feared 1200 mark with ease & closed above....
Volume was highest in a while...
Internals were solid...
New 52 wk highs expanded to highest level..587 in NYSE & 353 in Nasdaq...
RSI is @ highest.....Dow 75.41...S&P 500 78.29....Nasdaq 81.45.....
Few minutes ago Chinese GDP came in @ 11.9% above consensus of 11.5%.....so... get set for another strong day worldwide...
In my portfolio :
Sold RIMM
Bought SLW @ $17.36
Bought MU @ $ 11.31
Portfolio is MU,SLW,TER......
AH Futures Red...before Chinese GDP impact
AH Nikkei,Singapore & Hang Seng UP
AH Oil UP
AH Silver UP
AH Gold Down
BLOG does NOT give buy or sell.
Saleem
5 comments:
SALEEM
way to go on booking profit
We both sold MU and RIMM
WOW!! seldom do I get twofers
I got some AGU and looking at buy back on MU
I took some safety and got MCD and KMP!
The Dry shippers were pumped like heck last night on Cramers Clown circus DSX, GNK etc.
Perhaps pick up some GNK on any weakness today?
thoughts\\Good luck to all
News cars are all over the DC area but foreclosures is way up!
Hi Madmax,
This is a perfect market for traders.....dont know when the music will stop...
In the meantime keep booking profit.
GNK has been a major let down..got out last time with 10 cents loss..cannot buy until 17th when 30 day wait will be over....
I will buy something else on weakness.
Saleem
Hi All,
Yes, not sure why GNK has been lack luster. Maybe traders have lost interest in it. However, there seems to be a floor at around 19-20 where buyers are stepping in.
I've been having life issues that have kept me busy, but I do read the blog everyday.
Best Regards
From recent article on DRY Bulkers
The dry bulkers are buying ships. DSX just bought some. IPOs are being created with the express purpose to buy ships. GNK just put up $75 million along with investors $225 million to buy 2 Capes and 4 Supramaxes. They are not purchasing vessels for the fun of it: think inexpensive boats with a big upside.
This is a sector slaughtered by the "Great Recession".
I would suggest Genco (GNK) and its offspring (BALT). GNK has a diverse fleet with a good chunk of BALT and JIN.OL stock to boot. BALT is in the amazing position of getting 2 Capes and 4 Supramaxes at prices that would have been unheard of 2 years ago. This IPO starts out with no debt, something few other dry bulkers have.
Hi Standards,
Sorry to hear about your life challenges....we all face it from time to time..it generally brings the best in us.....I am sure you will deal with it & get the outcome you hope for.....
Thanks for your take on GNK & BALT...market is too strong to buy weak sectors.....
Saleem
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