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Wednesday, June 24, 2009

Bookkeeping: Adding to Excel Maritime (EXM)

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Now that reflation is back on as the trade of the day, I am going to add to Excel Maritime (EXM) as its severely oversold! It's almost lost half its value in a month. Hot money in, hot money out. I am adding in the $6.90s and taking a 1% position up to 3%. This could be short lived, but there are acres of room ahead before any headwinds attack, at least on the chart. Try to sell around $8. Once it gets to mid $8s it will actually be a nice short.

Long Excel Maritime in fund and personal account


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