Friday, October 23, 2009

Im gonna tout a position

the stock market has recovered 60%+ from the lows - this is based upon some sort of economic recovery. In an economic recovery (of which im totally unconvinced) you would think that shipping companies would do well. I am long warrants (or call options) to buy shares in a stock whose symbol is SHIP, the warrants are SHIPW. The warrants allow you to buy the stock at $6.5 until september of 2011. All you have to pay for that right is 22 cents. if the stock stays here unitl 2011 you lose 22 cents, but if its above $6.5 - paydirt.... its an insanely cheap play, one that I own a bunch of. Its something you can buy and forget about , 22 cents.....


JB

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