The trading today goes in the books as a winner for the bulkers in our coverage. The split comes in with 19 gainers and 5 losers. The best performers were EGLE @ 3.44 (+9.90%) and SHIP @ 1.56 (+7.62%). That’s a pair of winners for sure. From the loser board we show the worst hit being GNK @ 1.70 (-3.95%) and lastly we have NEWL. Yep… yesterdays top dog up over 15% and today it gets drug out behind the woodshed and whooped @ 0.24 (-37.53%).
Dry FFA: We hear from Martin at FIS the paper markets mostly firmed led by the Panasisters however the Soups lost some mojo and gave back a bit before all was said and done but they still curve to the left. Left is good, right is south of happy.
Q3-14: Capes $23,500 (-250)
Pmax $11,800 (+125)
Soups $12,150 (+250)
Remarks: It would seem plausible to suggest there is a bunch of folks throwing money at bulker names without ever having heard of TMT. What would motivate somebody to buy into a surge like the one Eagle saw today on the news they released yesterday? We are still perplexed by the liquidity in NEWL shares. The yahoo numbers show 17,009,315 in volume today. Who has that many shares of NEWL for real? Nobody… chimes the data miner Boomer James. Those shares are turning from inside out and back again. Someone’s gonna get in trouble!