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Category Archives: GNK

Baltic Trading and the Baltic Dry Index

September 5, 2010 – 8:46 am

New shipper company Baltic Trading (BALT) completed its initial public offering on March 15th. The new company immediately took its 228 million and began buying ships – a selection of cheap ships of varying sizes. Was this really a good time to do a shipper IPO, with shipper stocks suffering the disdain of the market? [...]

By HappyTrading | Comments (1)

Shipping Rally Boosts EGLE, GNK, DSX, & Others

November 11, 2009 – 7:44 pm

We had a big day for shipping firms today in the stock market, with SEA (Claymore-Delta Global Shipping ETF) moving up over 3%, and some shipping companies posting gigantic advances: EGLE up 16%, OCNF up 15%, GNK up 15%. So what is the real reason for the sudden optimism in this beaten-down, depressed and desolate [...]

By HappyTrading | Also posted in DSX, EGLE | Comments (0)

Four Shippers Emerging From the Mire

October 21, 2009 – 1:05 pm

After a thrilling two-week rally in the stock market during early September, shippers began to fall.  They had been enjoying a nice rally on the general premise of economic recovery, market stabilization, and rising materials prices.  But suddenly on September 17th, the shipper sector broke, and leading names fell – plummeted, actually, at a much [...]

By HappyTrading | Also posted in EGLE, ESEA, PRGN, TBSI | Comments (0)

GNK Earnings Tonight

July 30, 2009 – 3:41 am

All shippers are down today. Unfortunately we are in for a slide, it would appear. I keep a personal spread-sheet style shippers index which shows a decline today of 2.8%, which is a big decline for this normally placid group. I unloaded a lot of my shipper positions yesterday, to attempt better timing. With the [...]

By HappyTrading | Comments (0)

Shipping Surges on Little News

July 15, 2009 – 5:02 pm

I was in shock at the turnaround.  My shipping index was up 4.4%. (At 98.6) EXM was up over 20%!  GNK, TBSI, EGLE, all up big. But the S&P was only up half a percent or so. So what is going on? My first thought – ok, so the S&P head and shoulders formation is [...]

By HappyTrading | Also posted in CSX, EGLE, EXM, TBSI | Comments (0)

Fed Holds Rates Unchanged, Market Gains: SPX, Nasdaq, BIDU, AAPL, RIMM, ORCL, DRYS, GNK, EXM, ATW

June 25, 2008 – 6:43 pm

Well, the Fed held the interest rates steady, as expected by most. The techs led the market up. Just before the Fed announcement came out, I said on the member board: HappyTrading Posted June 25, 2008 at 11:06 am | Permalink (Edit) market what I do see is that VIX is near 21; if it [...]

By HappyTrading | Also posted in AAPL, ATW, BIDU, DRYS, EXM, Nasdaq, ORCL, RIMM, SPX | Comments (0)