Michael Michaud's  Instablog

Michael Michaud
Send Message
Michael Michaud is the founder of Invest2Success.com (http://www.invest2success.com/) and the Invest2Success Blog (http://invest2success.blogspot.com/). He has been investing and trading in the financial markets since 1989. He founded Invest2Success.com to empower individual institutional... More
My company:
Invest2Success
My blog:
Invest2Success Blog
  • Import Export & Panamax Shipping 0 comments
    Jun 1, 2009 7:26 AM | about stocks: DRYSOQ, EGLE, EXM

    The Market Week Ahead

    This week starts off with GM getting ready to file bankruptcy, and then the US taxpayer will own a majority stake. Geithner is meeting with the Chinese reassuring them their $800 billion US treasury investment is safe. Commodity prices are expected to continue their recent upside price moves. People are leaving their subprime loan foreclosed houses so fast they are leaving valuable possessions behind. Nice combination for a volatile market and big price swings possibly . . . a trader’s paradise.

    My Stock Pick This Week

    My stock pick this week is an ocean shipper with the big Panamax ships. China’s stimulus plan and subsequent possible increased commodity imports has been helping in giving the shippers share prices a boost lately. Long term I love the shippers with a growing global economy the supply demand picture looks to be favoring the shippers. Short term, I’ve got a sell or wait for a pullback to buy in. If the stock price keeps moving north use the stop-loss and reverse into a buy position.

    Sell-Short Diana Shipping. Ticker DSX

    Sell Entry: 18.78 to 17.69

    Stop-Loss: 18.88 or Higher

    Take Profit Areas: 16.07 to 15.26, 14.19 to 13.68, 13.21 to 12.74

    Diana Shipping Company Profile

    Diana Shipping Inc., through its subsidiaries, provides shipping transportation services. The company focuses on the transportation of dry bulk cargoes, such as iron ore, coal, grain, and other materials along worldwide shipping routes. As of December 31, 2008, its shipping fleet consisted of 13 Panamax dry bulk carriers and 6 Capesize dry bulk carriers with a combined carrying capacity of approximately 2 million deadweight tonnage. Diana Shipping charters its vessels to various national, regional, and international chartering companies. The company was formerly known as Diana Shipping Investments Corp. and changed its name to Diana Shipping Inc. in February 2005. Diana Shipping was founded in 1999 and is based in Athens, Greece.

    Click here to review and trial the Trading Software I used in determining my short position on Diana Shipping.

    Stocks: DRYSOQ, EGLE, EXM
Back To Michael Michaud's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.