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My Stock Value Strategy Starts Now (1 Viewer)
- Thread starter David Dodds
- Start date
In for 1000.Can't stand being in cash
KGB
Footballguy
I belive the date is for mnday. But with that being a holiday I don't know how that will work. Might as soon as afterhours today. They announced VNDA after hours. So I guess my answer is not sure.
David Dodds
Administrator
Bought 2,000 more PRGN at 5.46
I will keep purchasing 2,000 shares every ten cents it moves down. I have another coming at 5.36 if it wants to keep dropping.
I will keep purchasing 2,000 shares every ten cents it moves down. I have another coming at 5.36 if it wants to keep dropping.
FavreCo
Footballguy
Start sweating ladies because I am watching this one and may jump in and you all know what happens then.
David Dodds
Administrator
Quick analysis here, but you should get the point:
On Jan 28th , PRGN was at $5.84 with the BDI at 1,014
On Feb 9th, PRGN was $6.11 with the BDI at 1,815
Today, PRGN is at $5.43 with the BDI ay 2,786
For comparison:
EXM
Jan 28th - 7.83
Feb 9th - 8.74
Today - 10.50
SBLK
Jan 28th - 2.35
Feb 9th - 3.00
Today - 5.00
On Jan 28th , PRGN was at $5.84 with the BDI at 1,014
On Feb 9th, PRGN was $6.11 with the BDI at 1,815
Today, PRGN is at $5.43 with the BDI ay 2,786
For comparison:
EXM
Jan 28th - 7.83
Feb 9th - 8.74
Today - 10.50
SBLK
Jan 28th - 2.35
Feb 9th - 3.00
Today - 5.00
David Dodds
Administrator
I changed this at the last second and took 5,000 at 5.37. Daddy wants a moat.
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David Dodds
Administrator
Unless we panic sell, I think this is like printing money. Hold for a few more days and get the dividend of 5 cents too.In for 3000 shares of PRGN at 5.39
#@%&$!?
Footballguy
David > So what's your theory on why PRGN hasn't moved with in line with the rest of the sector?
David Dodds
Administrator
I think for the most part they are under the radar as they have a very small cap. They don't do these crazy moves either where they are getting financing and have grand schemes. They basically just kick ### and squeeze for max profits. When they cut their dividend they were crushed in the market. When EXM bled money, was upside down with all their loans, diluted their stock and eliminated their dividend, people bought more....I can't explain it all. This thing will be $10 this year I think though. I still believe it could be a take over target for DRYS or DSX too. It's falling back today because it went up 40+% in a day and a half. It's value right now though should be about 8.00. Track all these stocks from YTD until now and PRGN has lagged all year.
St. Louis Bob
Footballguy
I feel your pain. I'm like a mule with a spinnng wheel.BassNBrew said:Can't stand being in cash
bigfishboy
Footballguy
FREE and SBLK both report after hours next Wednesday. Has any dryshipper reported poor quarterly result this quarter or last quarter? And has any dryshipper's stock price not gone up due to earnings?
It seems like all the times I remember, buying a couple days before earnings on any of these has paid off. Does anyone have a reason why FREE and SBLK aren't good moves today in anticipation of good results next week?
It seems like all the times I remember, buying a couple days before earnings on any of these has paid off. Does anyone have a reason why FREE and SBLK aren't good moves today in anticipation of good results next week?
Just got back from lunch. Put in a limit order for 1,000 shares of PRGN @ $5.40 but the price has moved up from there for the moment. Hopefully I'll get a chance to add some shares.
Added 2,000 shares of the stock I mentioned earlier (GRO) @ $2.38 just before I left for lunch.
Added 2,000 shares of the stock I mentioned earlier (GRO) @ $2.38 just before I left for lunch.
I know a lot of times after a big gap up or a strong jump a stock will trade sideways for a few days/weeks before it's next move up. Technical Analysts call this a pennant because it looks like a flagpole (the big move up) with a flag trailing (the sideways action.) This is usually consider a bullish move where the stock is "consolidating" before the next move up.
David Dodds
Administrator
I am going to watch it. If people all start dumping, I am going to keep adding. If it goes to $5.60 though I will probably sell and hold on the sidelines in cash. This one was easy
None_More_Black
Footballguy
TBSI got hammered. It reported a good sized loss. Egle was down like 10% after earnings. SBLK should be ok. They are chartered for all of this year. They just announced 70+% of their ships are covered for 2010 but at reduced rates.May 21 (Reuters) - Shipping company Star Bulk Carriers Corp (SBLK.O) said it signed four new time-charter contracts, including one with agribusiness giant Cargill Inc [CARG.UL], enhancing the total contracted revenue in excess of $425 million.Star Bulk has now fixed 100 percent of its fleet operating days in long-term time charter contracts for 2009, which will help reduce the company's revenue volatility.The company said it signed a new one-year time charter agreement for the Star Theta at a gross daily rate of $11,300 with Cargill. It did not identify the other three charter counterparties in the press release.Star Bulk has also fixed 71 percent of its fleet operating days in time-charter contracts for 2010 and 42 percent for 2011, respectively."We have introduced profit-sharing structures in three of our new time charter agreements in order to benefit from future rate increases once these agreements come into effect," Chief Executive Akis Tsirigakis said in a statement.Tsirigakis also said he is confident that the newly established in-house vessel management will help to reduce management fees and cost structure.Shares of the company were trading down 4 percent at $4.57 in trading before the bell. (Reporting by Sakthi Prasad in Bangalore; Editing by Anil D'Silva )
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David Dodds
Administrator
Not sure why I wussed out with just the 5,000 share buy at $5.37. It was super obvious. I guess deep down I was hoping it could still move further down.
Remember the days when the NASDAQ and BDI were both up and the Dry Shippers would sky-rocket? Just another sign in my opinion that this thing is teetering close to a splashed out market for the time being. If the financial stocks start tumbling, watch out.
Remember the days when the NASDAQ and BDI were both up and the Dry Shippers would sky-rocket? Just another sign in my opinion that this thing is teetering close to a splashed out market for the time being. If the financial stocks start tumbling, watch out.
David Dodds
Administrator
I am heading out to get a Subway but don't want to miss any crazy nosedive or rapid acceleration....so I have set these things up:
Buy 10K PRGN at 5.40
Sell 9K PRGN at 5.60 (I am in at just under 5.44 now)
I don't really even want to sell at $5.60, but will bank the win and remain in cash if it gets to there.
Good luck all holding through the extended weekend.
Buy 10K PRGN at 5.40
Sell 9K PRGN at 5.60 (I am in at just under 5.44 now)
I don't really even want to sell at $5.60, but will bank the win and remain in cash if it gets to there.
Good luck all holding through the extended weekend.
David Dodds
Administrator
It went even lower....shocking. Upside down, but loving this purchase. Holding 19,000 PRGN at $5.42 Guess I am back in the market.
David Dodds
Administrator
afterhours:
PRGN: 5.57 +0.20 (3.76%) - May 22, 4:13PM EDT
PRGN: 5.57 +0.20 (3.76%) - May 22, 4:13PM EDT
David Dodds
Administrator
I think I am going to order some special Christmas cards and send to the executives of this company.I would like to personally thank all of you for helping me to purchase my castle and moat. Have a Merry Christmas.David
Otis
Footballguy
Otis
Footballguy
David Dodds
Administrator
I have 19,000 shares
2000 shares at 4.82. Bought 500 more today at 5.50
David Dodds
Administrator
I think my strategy with Paragon is going to be the following:
Manage between 5,000 and 30,000 shares of this until company until the next earnings report (I don't see how they won't have another good earnings report as they only plan on taking two ships off for 2 days and have established prices on all their ships). So even if somehow they were to under-perform via earnings, I am pretty certain the stock will shoot up pre-earnings based on their last two reports.
I will sell part of my position on great days and buy on the weak days with the overall strategy of trying to be close to 30,000 shares within a week of earnings.
I really do believe this company should be trading closer to $7.50-$8.00 right now.
Manage between 5,000 and 30,000 shares of this until company until the next earnings report (I don't see how they won't have another good earnings report as they only plan on taking two ships off for 2 days and have established prices on all their ships). So even if somehow they were to under-perform via earnings, I am pretty certain the stock will shoot up pre-earnings based on their last two reports.
I will sell part of my position on great days and buy on the weak days with the overall strategy of trying to be close to 30,000 shares within a week of earnings.
I really do believe this company should be trading closer to $7.50-$8.00 right now.
iowa clubbers
Footballguy
4000 shares at $5.50
James Daulton
Footballguy
500 shares @ $5.50
Otis
Footballguy
In for 3000 shares of PRGN at 5.39
djmich
Footballguy
Hopped on board today after missing the earlier run up. 3k shares.
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http://www.hellenicshippingnews.com/index....2&Itemid=79
In March we brought you Star Bulk Carriers at $1.82, the stock now trades upwards of $4.14 and is looking for more. Shipping rates were at an all time high in June of '08 and and subsequently fell to a six year low. The Baltic Dry Index (BDI), which represents the daily average of prices to ship raw materials, has been steadily moving off its lows. Many consider the BDI as the leading indicator of forthcoming global trade.
With prices now on the rebound the entire sector stands to benefit. In an industry where many have suspended dividends, one company, Paragon Shipping (PRGN) $4.74, continues to deliver, announcing a quarterly dividend of $0.05 per share, payable on June 9, 2009 to shareholders of record as of May 29, 2009.
In addition, the Company has a share repurchase program of up to an aggregate of $20 million of its Common Shares, through December 31, 2009.
The number of shares short have been reduced from 876K to 191K in the past month. The price to earnings ratio is ridiculously low at 1.85, the industry average, itself very low is around 5 and the Company is currently sporting a one year price target price of $11.01.
Paragon Shipping just reported net income of $19.2 million for the first quarter of 2009, earnings per share, basic and diluted for the first quarter of 2009 were $0.54. For the remainder of '09 Paragon Shipping says that it has booked 95% of its capacity. All things considered, Paragon Shipping appears to be a relatively safe play, if such a thing exists, in what is a volatile sector.
Profile
Paragon Shipping (PRGN) a global shipping transportation company specializing in drybulk cargoes.
Its vessels are able to trade worldwide in a multitude of trade routes carrying a wide range of cargoes covering a number of industries, including iron ore, coal, grain, bauxite, phosphate, and fertilizers.
The fleet carrying capacity totals 765,137 deadweight tons.
PRGN Investor Highlights
The Company reported net income of $19.2 million, or $0.71 per basic and diluted share for the first quarter of 2009.
Adjusted net income for the first quarter of 2009 was $14.7 million, or $0.54 per basic and diluted share.
The Company's Board of Directors declared a quarterly dividend of $0.05 per share with respect to the first quarter of 2009, payable on June 9, 2009 to shareholders of record as of May 29, 2009.
Time charter revenue for the first quarter of 2009 was $41.6 million, compared to $40.5 million for the first quarter of 2008.
The Company operated 12 vessels during the first quarter of 2009, earning an average time charter equivalent rate or TCE rate, of $37,179 per day, compared to an average of 11 vessels during the first quarter of 2008, earning an average time charter equivalent rate of $39,098 per day.
Has a one year target price of $11.01.
Trailing P/E of 1.85.
Shares short have been reduced from 876K to 191K in the past month.
The Company's board of directors has approved a plan for the repurchase of up to an aggregate of $20 million of its Common Shares, which may be repurchased by the Company from time to time until December 31, 2009.
In March we brought you Star Bulk Carriers at $1.82, the stock now trades upwards of $4.14 and is looking for more. Shipping rates were at an all time high in June of '08 and and subsequently fell to a six year low. The Baltic Dry Index (BDI), which represents the daily average of prices to ship raw materials, has been steadily moving off its lows. Many consider the BDI as the leading indicator of forthcoming global trade.
With prices now on the rebound the entire sector stands to benefit. In an industry where many have suspended dividends, one company, Paragon Shipping (PRGN) $4.74, continues to deliver, announcing a quarterly dividend of $0.05 per share, payable on June 9, 2009 to shareholders of record as of May 29, 2009.
In addition, the Company has a share repurchase program of up to an aggregate of $20 million of its Common Shares, through December 31, 2009.
The number of shares short have been reduced from 876K to 191K in the past month. The price to earnings ratio is ridiculously low at 1.85, the industry average, itself very low is around 5 and the Company is currently sporting a one year price target price of $11.01.
Paragon Shipping just reported net income of $19.2 million for the first quarter of 2009, earnings per share, basic and diluted for the first quarter of 2009 were $0.54. For the remainder of '09 Paragon Shipping says that it has booked 95% of its capacity. All things considered, Paragon Shipping appears to be a relatively safe play, if such a thing exists, in what is a volatile sector.
Profile
Paragon Shipping (PRGN) a global shipping transportation company specializing in drybulk cargoes.
Its vessels are able to trade worldwide in a multitude of trade routes carrying a wide range of cargoes covering a number of industries, including iron ore, coal, grain, bauxite, phosphate, and fertilizers.
The fleet carrying capacity totals 765,137 deadweight tons.
PRGN Investor Highlights
The Company reported net income of $19.2 million, or $0.71 per basic and diluted share for the first quarter of 2009.
Adjusted net income for the first quarter of 2009 was $14.7 million, or $0.54 per basic and diluted share.
The Company's Board of Directors declared a quarterly dividend of $0.05 per share with respect to the first quarter of 2009, payable on June 9, 2009 to shareholders of record as of May 29, 2009.
Time charter revenue for the first quarter of 2009 was $41.6 million, compared to $40.5 million for the first quarter of 2008.
The Company operated 12 vessels during the first quarter of 2009, earning an average time charter equivalent rate or TCE rate, of $37,179 per day, compared to an average of 11 vessels during the first quarter of 2008, earning an average time charter equivalent rate of $39,098 per day.
Has a one year target price of $11.01.
Trailing P/E of 1.85.
Shares short have been reduced from 876K to 191K in the past month.
The Company's board of directors has approved a plan for the repurchase of up to an aggregate of $20 million of its Common Shares, which may be repurchased by the Company from time to time until December 31, 2009.
None_More_Black
Footballguy
700 at 5.40. Could not stay away. Did not want to load up as I think the market could be due a major correction and I have other shipper positions.
