Ultrapetrol Bahamas Ltd. (ULTRF)

[doglover1]

Got in at .375 and HOPE to get out tomorrow at .35, or lower if I have to. Bought a ton, so the loss of just a few cents a share is going to add up. Better to get out now than be out .10 or more just a little ways down the road.

Should have checked this one out a little better. Got in because of the $2.02 book value, but the more I look at this I think it's a cooked number. Their debt is all short term and note and bondholders aren't going to let them off the hook month after month as they've been doing forever. This looks like it has one foot in bankruptcy and the other foot on a banana peeling.

And don't want to spend another $20 with Scottrade for a reverse split 'reorganization fee' or whatever they call it. I know it's not much money, but I just HATE that charge. They push a couple keys on a keypad and charge you $20.

There's actually a few profitable shippers in this industry. Will put the money in one of them. One actually pays a dividend. OSB, I believe.