across the board, DRYS, GNK, DSX, TBSI, EXM, NM, QMAR, etc...
What is that, nobody is shipping anything anymore, or does Cramer just love the sector too much?
Shipping Stocks
Started by
diogenes227
, Oct 30 2007 02:51 PM
23 replies to this topic
#1
diogenes227
-
- TT Patron+
- 5,120 posts
Member
Posted 30 October 2007 - 02:51 PM
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#2
relax
-
- Traders-Talk User
- 2,224 posts
Member
Posted 30 October 2007 - 02:57 PM
this again proves that cramer is stupid money big time
shipping stocks are down because of ffa's, big player chose to take profits sending futures market quite a bit down
but looking at physical fixtures and fundamentals, this sector has more to go
not enough ships, longer transport distance and port congestion are the main factors
#3
SandStorm
-
- Traders-Talk User
- 457 posts
Member
Posted 30 October 2007 - 03:04 PM
Briefing.com ran this
Live In Play
30-Oct-07
15:50 TALKX Floor Talk: Afternoon sell-off
The sell-off in the final hour of the session can best be described as a domino effect: The biggest momentum group in the market, the drybulk shippers (DRYS, EXM, DSX, GNK), sold off hard on heavy volume after a "bearish" dayrate report was released. There were a lot of weak longs in this group, and once they got taken down, other momentum groups got sold (look at the Ag Chemical stocks, for example). In turn, this led to profit-taking in the broad mkt, which has taken down the major averages to session lows heading into the close.
#4
diogenes227
-
- TT Patron+
- 5,120 posts
Member
Posted 30 October 2007 - 03:05 PM
CNBC is discussing them the selloff now. A cut in dry-goods rates. But as usual, CNBC is confused...
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#5
denleo
-
- Chartist
- 3,097 posts
Member
Posted 30 October 2007 - 03:08 PM
Who cares about shipping when we got Google. Searching is more important for the economy than shipping. It is the new economy, remember?
Denleo
#6
nicolasillo
-
- Traders-Talk User
- 1,441 posts
Member
Posted 30 October 2007 - 03:13 PM
DRYS, I have warned about this stock previously!
This company defaulted back in 1998 in their high yield bond .......
Company lost lots of money in FFAs recently as well.
No more comments on this company because of its owner...he doesn t have a good reputation in the shipping cycles!
there are enough ships and more to come! just the producing companies create this conjestion at the ports, benefiting in that way both themsleves and the shipping companies....... all this DRY BULK mania in the shipping sector was driven by FFAs and as you said a big player decided to take some profits!
This company defaulted back in 1998 in their high yield bond .......
Company lost lots of money in FFAs recently as well.
No more comments on this company because of its owner...he doesn t have a good reputation in the shipping cycles!
this again proves that cramer is stupid money big time
shipping stocks are down because of ffa's, big player chose to take profits sending futures market quite a bit down
but looking at physical fixtures and fundamentals, this sector has more to go
not enough ships, longer transport distance and port congestion are the main factors
there are enough ships and more to come! just the producing companies create this conjestion at the ports, benefiting in that way both themsleves and the shipping companies....... all this DRY BULK mania in the shipping sector was driven by FFAs and as you said a big player decided to take some profits!
Edited by nicolasillo, 30 October 2007 - 03:11 PM.
#7
ogm
-
- Traders-Talk User
- 13,780 posts
Member
Posted 30 October 2007 - 03:14 PM
Who cares about shipping when we got Google. Searching is more important for the economy than shipping. It is the new economy, remember?
Denleo
The one who seeks always finds
In this case the cause for the sell off.
Edited by ogm, 30 October 2007 - 03:15 PM.
#8
nicolasillo
-
- Traders-Talk User
- 1,441 posts
Member
Posted 30 October 2007 - 03:14 PM
Who cares about shipping when we got Google. Searching is more important for the economy than shipping. It is the new economy, remember?
Denleo
Denleo......is google going to be transporting the goods via internet as well? It was always the seaborne trade and it will always be. Unless, Google have something in mind to do it over the internet
#9
greenie
-
- Traders-Talk ~
- 3,184 posts
Member
Posted 30 October 2007 - 03:16 PM
Who cares about shipping when we got Google. Searching is more important for the economy than shipping. It is the new economy, remember?
Denleo
Despite our previous disagreements on other topics, I agree with you completely here. Shipping, manufacturing and even working hard are for old-fashioned people...you know the less sophisticated ones
. The new economy is based on searching, surfing, checking stock quotes on a mobile phone, which also happens to download music. If you are not good enough for that, borrow subprime and go foreclosed - as simple as that.
GOOG AAPL
working
It is not the doing that is difficult, but the knowing
It's the illiquidity, stupid !
It's the illiquidity, stupid !
#10
denleo
-
- Chartist
- 3,097 posts
Member
Posted 30 October 2007 - 03:17 PM
Who cares about shipping when we got Google. Searching is more important for the economy than shipping. It is the new economy, remember?
Denleo
Denleo......is google going to be transporting the goods via internet as well? It was always the seaborne trade and it will always be. Unless, Google have something in mind to do it over the internet
GOOG can do everything. At 700 the market is pricing in not only transporting goods via internet, but cancer cure and world piece, all brought to you by GOOGLE, as well.
Denleo
