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Advance In DRYS: Halt Or Retreat

Wed, 29 Jul 2009 13:47:47 GMT

Yesterday I was going to write a short article about the "green bar of death" but didn’t find the time. Where is this green bar? It is on the daily chart of DRYS. Take a look at the chart, and look at the days with the largest green bars. Then look what happened the days after that to the market. I’m saying that an outsized advance in DRYS has generally either called a halt to a market advance or marked the beginning of a market retreat. Yesterday DRYS had such a bar. That is one of the reasons I sold out most of my positions this morning. The Green Bar of Death had struck again. Of course, this verges on superstition. Or does it? Consider how new money finds its way into DRYS stock. It is apparent that DRYS does not[More...]

Euroseas Target Price Chopped - Analyst Blog

Fri, 05 Dec 2008 16:48:00 GMT

Euroseas Ltd. (ESEA), incorporated in May 2005, was formed to consolidate the ship-owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 136 years. The company owns and operates drybulk carriers that transport major bulks, such as iron ore, coal, and grains, and minor bulks, such as bauxite, phosphate, and fertilizers. We are retaining our Hold on Euroseas Ltd., but cutting our target price to $4. In 2008's third quarter, ESEA posted diluted EPS before nonrecurring items of $0.46, up 10% from the $0.42 earned in the prior-year period. Total net revenues of $34.7 million increased 66%, as well as a 30% increase in the average time charter equivalent rate to $25,951 per day from $20,024 per day in the year-ago quarter. However, spot rates[More...]

Digging Into Shipping

Thu, 06 Nov 2008 15:36:00 GMT

Shipping rates could be the worst-performing commodity index in the market, but does that mean it's time to buy? The shipping company trading rangeHow to read a quarterly reportTop shippers compared[More...]

Credit Crunch: Baltic Dry

Wed, 15 Oct 2008 13:28:00 GMT

“Letters of credit and the credit lines for trade currently are frozen. Nothing is moving because the trader doesn't want to take the risk of putting cargo on the boat and finding that nobody can pay.” -Khalid Hashim, managing director of Precious Shipping, Thailand's second-largest shipping companyYesterday in Baltic Dry, Amazing Plunge, I marveled at the absolute collapse of the index and also thought that there was no way demand for dry commodities had dropped so significantly so quickly.[More...]

Stocks Look To Be Starting Another Trend Down

Mon, 07 Jul 2008 16:44:00 GMT

If this is the case, as you can see, I KNOW there is only one smart thing to do and that is to raise cash. That is what I have recently been doing.[More...]

What A Difference Four Days Makes

Thu, 12 Jun 2008 13:46:28 GMT

Well I am about as upset as the next guy about this rally turning into what it has now turned into–a reversal of a breakout to a breakdown. After speaking with a great trader tonight, who also has a stellar long-term record, I am now comfortable with the[More...]

Periodicals Wrap-Up for Monday, May 19th

Mon, 19 May 2008 13:40:08 GMT

Submitted By Optiondragon[More...]

Stock Ideas for Next Week

Sun, 18 May 2008 20:53:40 GMT

Last Saturday I posted some stocks I would be watching for Potential trend trades those stocks are in the table below. As much as I liked some of the setups, I did not expect the group to do as well as they did. The average stock on the list gained over 8[More...]

Euroseas (NASDAQ:ESEA): Target upped to $21 from $17 at Oppenheimer

Mon, 19 Nov 2007 14:39:30 GMT

Oppenheimer is out on Euroseas (NASDAQ:ESEA) raising their tgt to $21 from $17 as they believe the company is poised to realize meaningful fleet growth. Accordingly, ESEA has the potential to deliver solid YoY earnings growth in 2008, even if dry-bulk rates...[More...]

Dollar Pressure

Wed, 07 Nov 2007 14:23:57 GMT

Good morning. The market is under pressure this morning on news that China may shift its foreign currency stockpiles away from the U.S. dollar. As a result, gold and oil prices are soaring and the dollar is pressing lower. Add this news to some bad bank earnings in Europe, word of an SEC investigation regarding recent bank disclosures, more writedown risk, and disappointing earnings news from General Motors (GM) and the bulls are going to have a rough time. Premarket gainers: PSPT, DROOY,...[More...]

Euroseas Ltd. Reports Results for the Quarter Ended June 30, 2009

Tue, 11 Aug 2009 20:06:00 GMT

MAROUSSI, ATHENS, GREECE -- -- 08/11/09 -- Euroseas Ltd. , an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the three and six month periods ended June 30, 2009.[More...]

Euroseas Ltd. Sets Date for the Release of Second Quarter 2009 Results, Conference Call and Webcast

Wed, 05 Aug 2009 20:01:00 GMT

MAROUSSI, ATHENS, GREECE -- -- 08/05/09 -- Euroseas Ltd. , owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today that it will release its second quarter and six month results for the period ended June 30, 2009, on Tuesday, August 11, 2009, after the market closes in New York.[More...]

Euroseas Ltd. Declares Quarterly Dividend

Tue, 04 Aug 2009 13:52:00 GMT

Euroseas Ltd. (NASDAQ: ESEA), owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today that its Board of Directors has declared a dividend of $0.10 per common share for the second quarter of 2009.
Aristides Pittas, Chairman and CEO of Euroseas commented: "We are pleased to declare our 16th consecutive dividend.
Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 136 years.

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Euroseas Ltd. Announces Delivery of Its 17th Vessel

Thu, 23 Jul 2009 20:00:00 GMT

MAROUSSI, ATHENS, GREECE -- -- 07/23/09 -- Euroseas Ltd. , owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today, that it has taken delivery of the M/V Four Coal to be renamed M/V Pantelis, a Panamax drybulk carrier of 74,020 dwt, built in 2000 in Japan. As previously disclosed, the vessel was acquired for approximately $27.5 million and comes with a time charter back to the seller until December 2009 at a gross daily rate of $25,200 per day. The vessel will be partly financed with a bank loan of approximately $13 million.[More...]

Capital Link Launches a Series of Stockmarket Maritime Indices

Mon, 29 Jun 2009 11:56:00 GMT

NEW YORK, NY -- -- 06/29/09 -- Capital Link, Inc., a New York based Investor Relations and Advisory firm with a strategic focus on shipping, announced the launching of a series of stockmarket Maritime Indices.[More...]

Euroseas Ltd. Announces Signing of Memorandum of Agreement to Purchase Panamax Drybulk Carrier Expanding Its Fleet to 17 Vessels

Thu, 11 Jun 2009 12:55:00 GMT

MAROUSSI, ATHENS, GREECE -- -- 06/11/09 -- Euroseas Ltd. , owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today that it signed a memorandum of agreement to purchase a Panamax drybulk carrier of 74,020 dwt, built in 2000 in Japan, for approximately $27.5 million. The vessel comes with a time charter back to the seller until January 2010 at a gross daily rate of $25,200 per day and is expected to be delivered to the Company between July 1, 2009 and August 5, 2009.[More...]

Euroseas Ltd. to Present at the Morgan Stanley Commodities & Shipping Conference in New York City

Fri, 05 Jun 2009 12:55:00 GMT

MAROUSSI, ATHENS, GREECE -- -- 06/05/09 -- Euroseas Ltd. , an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today that the Company Chief Financial Officer, Dr. Tasos Aslidis, will present at the Morgan Stanley Commodities & Shipping Conference in New York City on Tuesday, June 9, 2009 at 3:30 P.M. EDT.[More...]

Euroseas Ltd. Announces Availability of 2008 Annual Report on Form 20-F

Fri, 29 May 2009 12:59:00 GMT

MAROUSSI, ATHENS, GREECE -- -- 05/29/09 -- Euroseas Ltd. , an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today that its Annual Report on Form 20-F for the fiscal year ended December 31, 2008 has been filed with the Securities and Exchange Commission and may be accessed through the company website www.euroseas.gr at the investor relations section under Annual Reports.[More...]

Euroseas Ltd. Reports Results for the Quarter Ended March 31, 2009

Thu, 21 May 2009 20:48:00 GMT

First Quarter 2009 Highlights:
Net income of $3.9 million or $0.13 per share basic and diluted on total net revenues of $15.3 million.
Tasos Aslidis, Chief Financial Officer of Euroseas, commented: "The results of the first quarter of 2009 reflect the lower level of the charter markets.

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Euroseas Ltd. Sets Date for the Release of First Quarter 2009 Results, Conference Call and Webcast

Fri, 15 May 2009 12:25:00 GMT

MAROUSSI, ATHENS, GREECE -- -- 05/15/09 -- Euroseas Ltd. , an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerized cargoes, announced today that it will release its financial results for the first quarter ended March 31, 2009, on Thursday, May 21, 2009, after the market closes in New York. The following day, Friday, May 22, 2009, at 11:00 am EDT, the Company's management will host a conference call and webcast to discuss the results.[More...]