GNK - Genco Shipping & Trading Ltd. - Page 7

Looks like I got shook out, GNK is back up to $23 this morning.

just under 22 hope to see a jump this week. anyone still in this?

Not me. I spent my Genko money on Baidu last week. Already up almost $10, I'm going to see where it goes. I'll look at Genko again as soon as I get out of MPEL (which will hopefully be soon).

Unusual situation on the BDI with the Cape index lower than the Panamax and Supramax indexes. Rates for the smaller ships are rising while the biggest ships are not. Maybe the Cape rates are getting ready to shoot up? Would be good for shipping stock prices.

Refer to the numbers and chart here:
http://www.dryships.com/pages/report.asp

This is at least the third day that Cape rates have been lower than the smaller Panamax and Supramax rates. Scary situation IMO.

Shippers have been dropping all week, and today's BDI is -77 at 3021. GNK has been on a 3 week downtrend since about 3/8. Glad I took profits at $22, it's looking to drop below 19.50 today.

I'm keeping a tighter stop on all my long positions as long as there is such a disconnect between the BDI and the market direction. The market will correct at some point.

Something is up, GNK jumped over $2 per share in the last two days. The other shippers I watch are all up as well. Strange that they are climbing while the BDI is still dropping. I'm going to guess that the BDI will be up sharply in the next couple days.

Thanks for these updates Skwerl.

Thanks, I'm just trying to keep up on at least one sector. Shipping has been good to me over the last year and a half and I'm convinced that this sector will be a leading indicator for the entire economy. We're hearing all kinds of good news about increased economic activity, more sales and financial activity, but the BDI is below 3000 so I don't see the economy going anywhere in the next six months. Not until I see shipping of raw materials increasing. I have no idea why commodities such as copper and steel are doing so well, they aren't moving enough to justify the prices. There's a lot of deception in the market.

BDI took a big jump today. GNK was up over a dollar to 24.15 before pulling back with the declining market. I'm back in at 23 with room to average down if necessary. Amazing that it is in the green with the sea of red today.

BDI up another 126 today. Up over 300 points in 2 days. GNK is on a steady rise as well. Too bad I didn't jump in a week ago at 21. I have cash ready if it pulls back again, and will continue buying unless the BDI takes a nosedive.

After spending entirely too long at around the 3000 mark, the BDI has been climbing for the last week and is near 3900 now.

Hmm

looking at possibly may 24 calls .1x.15

Added some GNK at 19.48. I don't see it going much lower than this for now.

BDI still above 3900

Wow.

Broke below 18 today.

Bulkers are starting to look interesting again.

Just got in at 18.02, I think it will probably take a quick dip tomorrow but I don't want to risk it in case positive news comes out after market. Hopefully this one goes back to 20 in the next few days, I'm looking for a quick 10% profit.

Dad gum, Travis. I'm still holding from $21, wish I could average down some more but I'm caught in another situation right now with no available funds. The BDI is holding above 4000 as well and today had a big jump in the Cape rate.

Don't worry Skrewl. When GNK runs, it runs hard.

In today @ 18.00 with 1500 shares. I hope to add 1500 more in the mid 17s.

I'm also keeping an eye on the bulker devil, DRYS.

2nd tier purchased @ 17.50

Averaged in @ 17.75 with 3K shares.

I may put in a super low ball GTC order for another 2K, but we'll see...

Insane price action lately.

Stopped out @ 16.50.

-3800