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GNK - Genco Shipping & Trading Ltd. - Page 6

post #101 of 438
2/5/10 at 3:09pm
Stopped out this morning @ 18.70. I put the stop when I bought earlier in the day and decided that the market is, indeed, heading lower.

I'll wait until it's safe for me to come out and play.

-1200
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post #102 of 438
2/9/10 at 6:19pm
Im stilling hanging in there.
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post #103 of 438
2/16/10 at 3:41pm
Up over 8% on heavy volume.
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post #104 of 438
2/16/10 at 5:21pm
Oh ya, looking good too, specially that macd.


Going back to 25+, SPECAILLY if they report profit on the 25th aint no telling how high its going.
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post #105 of 438
2/23/10 at 7:48pm
GNK reports tomorrow after the market closes with a conference call to follow Thursday morning...

I expect even meeting expectations will result in a sell off. Bad earnings will really hurt but great earnings will have little impact.

More BORSON.
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post #106 of 438
2/25/10 at 1:14am
After market up 3.30% Looking good.
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post #107 of 438
2/25/10 at 12:38pm
Just got this off my news wire-

Quote:
Genco-Created Baltic Trading Details Estimated IPO Terms
Last update: 2/25/2010 7:05:40 AM
DOW JONES NEWSWIRES
Shipping company Baltic Trading Ltd. released estimated terms for its planned initial public offering, targeted at least 16.3 million shares at a price of $15 each.
The IPO market got off to a rough start in 2010, which started with a slump in equities. Many companies either delayed planned offerings or abandoned them altogether as stock demand petered.
Baltic, a newly formed company focused on the drybulk industry spot market, said in October it hoped to raise up to an estimated $230 million to buy an initial fleet of six drybulk vessels for transporting iron ore, coal, grain and steel products, among others. It was formed by Genco Shipping & Trading Ltd. (GNK), which will serve as its manager.
Baltic intends to apply for listing on the New York Stock Exchange under the symbol BDI.
In general, drybulk-shipping companies have been looking to recover from slumping charter rates. Though demand has improved somewhat, new vessel deliveries will result in excess supply, likely keeping a lid on rates.
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post #108 of 438
2/25/10 at 2:02pm
Listening in on the conference and slide show now.


Better the expected earnings, Im feeling confident now
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post #109 of 438
2/25/10 at 2:46pm
Took advantage of the dip this morning to average down on my 21.10 cost basis. Got my avg cost down to 20.39 now.
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post #110 of 438
2/25/10 at 3:44pm
Nice play, Skwerl.

I would have bought the dip today around 19.80, but have my funds tied up in a short term bounce play that hasn't bounced yet.

I'm keeping my eye on DRYS for a similiar type play tomorrow (considering they are reporting after market today, as far as I gather).
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post #111 of 438
2/25/10 at 4:19pm
That crazy drys is up over 20 cennts when the market is down almost 170.They do report after the close today,so,maybe someone knows something.

I am surprised you may play it Wrighttravis.If you do,what price would you consider buying it?
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post #112 of 438
2/25/10 at 4:23pm
Quote:
Originally Posted by trade2getrich View Post
That crazy drys is up over 20 cennts when the market is down almost 170.They do report after the close today,so,maybe someone knows something.

I am surprised you may play it Wrighttravis.If you do,what price would you consider buying it?
Honestly, it'll be a momentum play so I'm not sure of price yet. I just take today's action as people betting on great earnings and I see them being scared out of their position when BORSON happens. That's where I'd be tempted to pick up some shares.
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post #113 of 438
2/25/10 at 5:08pm
This may be a stupid question,but,what is BORSON???
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post #114 of 438
2/25/10 at 5:24pm
Quote:
Originally Posted by trade2getrich View Post
This may be a stupid question,but,what is BORSON???
Buy On Rumor, Sell On News
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post #115 of 438
2/25/10 at 5:57pm
Oh,ok,thanks,it sounded like something much more important.
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post #116 of 438
2/25/10 at 8:34pm
I done good on my quick buy this morning, we're over $21 now.
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post #117 of 438
2/26/10 at 1:12pm
Revenue down, income up-

Quote:
Genco Shipping & Trading has reported revenues of $96.23m for the fourth quarter ended December 31, 2009, a decrease of 5.3 percent, compared to $101.57m for the same period in 2008.

The company has posted a net income of $35.49m for the fourth quarter 2009, or $1.13 per diluted share, compared to net loss of $111.3m, or $3.56 per diluted share, for the comparable period in 2008. Operating income was $51.86m, compared to $7.66m for the comparable period in 2008.

For the full year ended December 31, 2009, the company has posted a net income of $148.62m, or $4.73 per diluted share, compared to $86.58m, or $2.84 per diluted share, for the year ago period. Revenues of $379.53m for the 12 months, compared to $405.37m for the year ago period. Operating income was $210.49m, compared to $234.37m for the year ago period.

Robert Buchanan, president of the company, said: “Our strong results for the fourth quarter and full year 2009 reflect the ongoing success management has achieved in expanding Genco's time charter coverage with high-quality customers during a challenging drybulk market.

“With approximately 57 percent of our fleet's available days currently secured on time charters for the remainder of 2010, we remain well positioned to obtain sizeable contracted revenue streams as we continue to deliver first-rate service to world-class charterers.”
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post #118 of 438
3/1/10 at 3:09pm
I think were gonna see green for consecutive days for a while.
Just my gut feeling.
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post #119 of 438
3/4/10 at 4:16pm
And the uptrenddd connntinuesssssss
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post #120 of 438
3/9/10 at 3:36pm
My stop hit at $22 this morning. For once I got out with a profit, will buy back in once it finishes dropping (hopefully).
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