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Entering the Middle East
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lowpeckkiyau
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15-Aug-2006 08:14
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I finally disposed off at $0.83 and got back my capital. I was stuck with this for almost a year (bought at $0.99) and averaged at $0.82. IPO was at $0.90 but this stock was quite a disappointment. Not that bad after all. at least get my dividend of 4.5% better than bank rate. Hahahahaha My thanks to Master Nostradamus on advice and guidance to get out and used my money to buy other good stock. thanks again. |
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Nostradamus
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14-Aug-2006 17:17
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STX jumped to a 15-week high of $0.835 on optimism that further gains in the Baltic Dry Index (BDI) would improve freight margins. One analyst, who declined to be named, said STX was boosted by Friday's 14-month high in the Baltic Dry Index (BDI),which covers dry bulk shipping rates. "Going forward, the bulk shipping rates in the third and fourth quarter will also increase," said the analyst. Sector peer Courage Marine Shares in both firms have been climbing steadily with a surging BDI, which is up on rising demand for dry bulk shipping in China, according to the analyst. But, the analyst also warned of "an element of risk" in the dry bulk shipping industry, citing a possible weakening of demand for iron ore and coal -- industries that shipping firms depend on -- due to China's recent tightening policy. I still think it's still possible for STX to cover the gap at $0.845. |
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Nostradamus
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12-Aug-2006 22:50
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Hi lowpeckkiyau, If the BDI rises further, CSFB may upgrade it price target again. Then you may just return to the black. Resistance at $0.78-$0.79. These are the resistances on 27/4 and 2/5 and support on 22/11/05. The most optimistic scenario is a move up to cover the gap at $0.845 on 26/4 before it gapped down the next day. |
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lowpeckkiyau
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11-Aug-2006 14:38
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Dear Veteran gurus, Bought at 0.82 (average) - any chance of going further. Otherwise, will get back my capital. Loss so much on different stocks. How is the status on TA? Support and resistance. Will monitor based on your guidance. thanks again! |
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alto26
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11-Aug-2006 11:40
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its shd hover round this level, waiting for the boys to up till 80 cetns,this counter shd keep an eye on. |
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kennylow
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11-Aug-2006 10:27
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Time to take profit at this level... |
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Nostradamus
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11-Aug-2006 00:20
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1H06 volumes increased 18% yoy. Due to stronger volumes, CSFB raised its price target the 2nd time to $0.80. |
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alto26
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08-Aug-2006 15:51
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STX shd be able to post some good profits in teh coming quarters.Today it fell 10 cents on th eopening only to recover to around 68 late afternoon.those shortists in for a hot afternoon.the ship is not sinking after all. |
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Nostradamus
Supreme |
08-Aug-2006 09:41
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STX's quarterly profit fell 96% after its business was hit by lower bulk freight rates. It derives most of its profit from shipping bulk cargo such as coal, grains and ore. STX reported a 69% slump in quarterly profit in the first three months of 2006 as freight rates were hit by the oversupply of new vessels. But it said at the time that it remained optimistic for the full year. The company, South Korea's biggest dry bulk shipping company, is looking to reduce its dependence on dry bulk, its main money spinner, because the business is closely tied to China's appetite for raw materials, particularly ore used in steel production. The Baltic Dry Index, which tracks bulk shipping rates, has gained more than 50% since the start of the year to hit a 15-month high of 3,617 points last week. In May, STX had predicted the index would stay at around 2,500 points for the rest of 2006. The index fell sharply from a high of more than 6,200 in December 2004 to less than 1,800 in August 2005 as China's ore imports fell. |
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Nostradamus
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27-Jul-2006 20:48
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STX will benefit from the bounce in the Baltic Drybulk Index (BDI) and improving margins, as drybulk accounts for 90% of its total revenue. The recent surprising bounce (better than seasonality) BDI has been due to stronger China demand and, importantly, should continue for the rest of the year as global harvest demand season kicks in. Credit Suisse has a price target of $0.75. |
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singaporegal
Supreme |
21-Jun-2006 22:18
Yells: "Female TA nut" |
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with the venture into middle east also comes with a higher risk. the middle east is a generally more unstable region in a politcal sense. |
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Nostradamus
Supreme |
21-Jun-2006 18:39
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Looks like Courage Marine is not the only one making its foray into the Middle East. STX has formed a joint venture with ETA Star Holdings to establish Gulf Pacific Shipping. It will be prncipally enagaged in the cape size affreightment business in the Arabian Gulf and Indian Ocean region. Freight rates on the Middle East routes are generally 20% over those in Asia such as the Taiwan-China route. STX's price may rise on the news. |
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