tag:blogger.com,1999:blog-2335748440449035592.post2424606844416059616..comments2009-02-09T01:08:21.862-05:00TraderMarkhttp://www.blogger.com/profile/06241756200482130281noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-2335748440449035592.post-86706545552255252772009-02-09T01:08:00.000-05:002009-02-09T01:08:00.000-05:00re: SHIP - holy lack of volume Batman!TraderMarkhttp://www.blogger.com/profile/06241756200482130281noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-7075157474632550862009-02-07T14:33:00.000-05:002009-02-07T14:33:00.000-05:00Just Googled covenant and shipping and look what came up: <BR/><BR/>----------------------------------------------------------<BR/>Seanergy Maritime Holdings Corp. (the "Company") (NASDAQ: SHIP) (NASDAQ: SHIPW) announced today that it has received a waiver on its market-value-to loan covenant. As part of the waiver, the Bank has put a temporary restriction on the Company's payment of dividends. <BR/><BR/>--------------------------------------------------<BR/>Not much on this shipper.. Was trading at $10 last year, dropped to a low of about $3.70 in November and is now up to about $5.00 (Recent trading range is about $4.50 to $5.00). Only one post on the Yahoo message board, no blogs or associated articles and this news was just posted yesterday. The Yahoo finance page is pretty much empty.. Lots of N/A's .. The only post on the message board is asking when the company will report earnings... Not a good sign. Dividend was 4.10 percent.... <BR/><BR/>Probably not a good short candidate..Not followed well, dividend isn't extremely high, so the impact may not be a big issue. Anyone left in this stock after last years drop probably won't bail at this time. Shortsqueeze.com has no short of float info... So it doesn't seem that that would be a help either.... <BR/><BR/>One thing that bugs me about Yahoo finance appears here again. It says:<BR/><BR/>% Held by Insiders1: 118.81%<BR/>% Held by Institutions1: 0.50%<BR/><BR/>There is no way you can have a greater than 100% stock holding. When asked, Yahoo referred me to the info suppliers, who have ignored my requests... <BR/><BR/>jeganjeganhttp://www.blogger.com/profile/05850061548373752817noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-84354753001638017252009-02-07T14:14:00.000-05:002009-02-07T14:14:00.000-05:00Keep shippers in mind, even though they had a big run up lately. I read an interview with the CEO of a lender that specialized in shipping... He said that they really didn't want to foreclose on any shipping companies, and that they would re-write their loans if they came due, but they would insist on terminating or at the very least markedly reducing the dividends. You only have to have watched the action on DRYS the day or two after their dividend drop to realize what a nice short opportunity that would be. (Then of course, you go long to catch the rebound.. Go figure!!!)<BR/><BR/>jeganjeganhttp://www.blogger.com/profile/05850061548373752817noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-21149580421609168192009-02-06T15:33:00.000-05:002009-02-06T15:33:00.000-05:00I took a bit off but still hold most. $66 is the big line in the sand, it's been hanging out there most of the day.<BR/><BR/>The market is moving so rapidly and technical analysis becomes useless when we get such huge moves in indexes. NASDAQ is outperforming to a huge degree here so its getting dangerous. Weird how NFLX is stalling but AMZN is loved... I just assume its one of the hedge fund names to run into on rallies along with the other 'horsemen'<BR/><BR/>Still suffering with about 80% of the position.TraderMarkhttp://www.blogger.com/profile/06241756200482130281noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-38847519273960038652009-02-06T15:26:00.000-05:002009-02-06T15:26:00.000-05:00speaking of shorts, did you get stopped out of AMZN?Roberthttp://www.blogger.com/profile/01035642807854601012noreply@blogger.com