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Pre Looks like small gap up and NOBODY selling! Hmmmmmmm GEE that means higher doesn't it? Heehee
Bought the bounce 117 - 185 and still in. We are going higher, much higher! So says my little BIRDIE
Hope you are right glta!
Headed up from here IMO. With news BOOM!
I expect one more massive volatile whip to close gap at 1.25 area and fast rebound upward like we saw Friday... This time to confirm low and support and continue upward momentum as GNK's earnings good again and doing better overall...
Sky's the limit ! How many daytrader shorts were wiped out in minutes at open by whipsaw??? LOL
Talk about whipsawing effect- Looks like something you'd see in a futures contract for soybeans in a dry season ! LOL
Wonder how many STOPS were taken out by Funds doing this??
If what I think is going to happen happens my price target is 2.30 this upcoming week~ IF that is.
There was a little profit taking going on, but I think its about over.
Monday should pick up where we left off AH today and rise.
Remember, a little birdie told me Something big coming our way next week. Until then HOLD THEM SHARES!!! GOOD LUCK!
Back up to where!
All I can says is Wow!
Of course... The market has consistently manipulated in last 5 years...... Shorts and options create a false and deceptive trade pattern
Short Trap, Shorted on the way down to may 2013 low, and raised cash, then buy up from the lows, raise more cash, liquidtiy, attention, and money, or not
Mr. ShortRobber Please Talktamegoose
Interesting note all the retail share have been shorted against. Wow!
Time will tell? Unless you have inside info?
Yes.....stop losses can hurt
THE BOUNCE IS ON~!
GNK is kickin A$$. Anyone selling here is going to be sorry big time shortly. I bought in 2 hours prior to bounce from 1.17-1.80 and Im telling you now it was not a mistake. I have a crystal ball.
Hello Board. Good day to buy the dip. News was nicey nice. Hope to stay around a while.
Feel bad for those shook out.
Should have bought another 5 k..... Very good news paying their debt interest!
Wow, nice call on that bounce... And will go higher tomorrow. Gltu
Not all day for sure!
HEATING some SWEET NUMBERS HEADED OUR WAY!!!
Maybe not today.
Truly hope earnings are up..... Delayed reporting concerns me
Good luck I Man
Earnings due anytime. Beat last time. The short position is over 1/3rd of the float too and will propel this upward fast for Investors IMHO...
Anything is possible..... I think now it depends who holds their debt.....
JCB5 thank you very much. In that case do you think BK out of discussion now? I plan to hold through earnings. Let's see what happens.
Thanks again
Hi Thinksmart
I called Genco at their Park Avenue Headquarters in NYC last week. Although not many details were offered, I expressed my dissatisfaction of the price per share. My questions were answered that they were working on debt management or refinancing available. My conclusions are this is a very large shipping company with millions of assets in ships, property, contracts etc.....I assume someone will buy them or help them recapitalize. Unfortunately our global economy controls what is exported and imported. Hopefully after 2/19 we will know more.
SEC Filing SC 13G/A 02/10/2014
>5% ownership GNK common stock
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
GENCO SHIPPING & TRADING LTD
(Name of Issuer)
Common Stock
(Title of Class of Securities)
Y2685T107
(CUSIP Number)
Shares of voting power 2,788,346 **see Note 1**
Dimensional Fund Advisors LP, an investment adviser registered under Section 203 of the Investment Advisors Act of 1940, furnishes investment advice to four investment companies registered under the Investment Company Act of 1940, and serves as investment manager to certain other commingled group trusts and separate accounts (such investment companies, trusts and accounts, collectively referred to as the “Funds”).
JCB5, what's your thoughts on GNK in the short and long term? or anyone else can comment please? Thanks
I recommend other posters call GNK investor relations rep...... I called and asked the relevant questions on future...,..,
Genco Shipping & Trading Stock Rating Upgraded by Zacks (GNK)
http://tickerreport.com/banking-finance/119886/genco-shipping-trading-stock-rating-upgraded-by-zacks-gnk/
Great just loaded a sizable position
Movement going inot February earnings expected,a s last earnings BEAT all forecasts...
GNK reported 3rd quarter 2013 losses of $0.81 per share on November 6, 2013. This beat the $0.86 consensus loss of the 12 analysts covering the company.
The next earnings announcement from GNK is expected the week of February 17, 2014.
and GNK's last earnings even beat all estimates out there too... Go figure.
Agree... They have certainly hurt Genco
Seeking Alpha needs to be shut down once and for all.
They right now are part of an investigation and halt of LLEN stock and found to have been working in coohoots with GeoInvesting, a website like I-Hub, that was/is being sued for doing illegal naked shortselling of said stock and other stocks abusing their website and analysis reports altogether !!
A couple years back to, SA and Geo were part of another which NY State Atty. General went after them as well for illegal naked shortselling attacks on a stock crippling another company's stock.
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http://www.gencoshipping.com/index.html
Genco Shipping & Trading Limited engages in the ocean transportation of drybulk cargoes worldwide through the ownership and operation of drybulk carrier vessels. It transports iron ore, coal, grain, steel products, and other drybulk cargoes. The company principally charters its vessels to trading houses, including commodities traders; producers; and government-owned entities. As of December 31, 2007, Genco Shipping owned a fleet of 28 drybulk carriers consisting of 5 Capesize, 6 Panamax, 3 Supramax, 6 Handymax, and 8 Handysize drybulk carriers, with an aggregate carrying capacity of approximately 2,020,000 deadweight tons. The company was founded in 2004 and is based in New York, New York.
At Genco Shipping & Trading Limited our Chairman and board of directors have substantial experience in the shipping industry.
Our management team is based in New York City and includes several executives with extensive experience in the shipping industry who have demonstrated substantial ability in managing the commercial, technical and financial aspects of our business.
We believe that we possess a number of strengths that provide us with a competitive advantage in the drybulk shipping industry.
We own a modern, high-quality fleet of drybulk carriers. We have a modern fleet consisting of vessels with an average age of 6.42 years as of June 30, 2008 as compared to the average age of approximately 15 years for the world fleet. We believe that owning a modern, high-quality fleet: reduces operating costs and fuel consumption; allows us to secure favorable financing terms by enabling lenders to feel secure with their collateral; makes our fleet more reliable by reducing the likelihood of breakdowns and off-hire; provides us with a competitive advantage in securing favorable time charters from charterers who prefer vessels that have greater fuel efficiency than older vessels and can serve with fewer interruptions due to breakdowns.
Our fleet includes six groups of sister ships. Sister ships can use similar spare parts, and their crews are interchangeable. We believe that maintaining a fleet that includes sister ships increases our revenue generating potential by improving our operational and scheduling flexibility and reduces costs by creating economies of scale in the maintenance, supply and crewing of our vessels. We also believe that having sister ships makes our fleet more attractive to time charterers because they can interchange cargoes among the sister ships.
We benefit from strong relationships with members of the shipping and financial industries. We have developed strong relationships with major international charterers, shipbuilders and financial institutions that we believe are the direct result of the quality and experience of our management team. In addition, we have developed a strong relationship with Wallem, an international vessel management company with over 35 years of experience that currently manages 211 vessels with a carrying capacity totaling in excess of 16 million dwt while meeting strict quality control standards. We currently contract with Wallem for the technical management of the vessels in our fleet. We believe that these relationships will lead to greater charter opportunities for our vessels.
We maintain commercial management of our fleet in-house, thereby benefiting from the substantial experience of our management team in the shipping industry while avoiding brokerage commissions to related parties. It also serves to prevent conflicts of interest because, unlike transactions involving brokers, our employees do not have a personal financial interest in the charter contracts.
Our Business Strategy
Our strategy is to manage and expand our fleet in a manner that enables us to pay dividends to our shareholders. To accomplish this objective, we intend to maintain a modern, high-quality fleet that meets or exceeds stringent industry standards and complies with charterer requirements that are required before a vessel owner can secure employment for its vessels. In addition, we intend to maintain the high quality of our existing fleet and subsequent acquisitions by maintaining, through our technical manager, a rigorous and comprehensive maintenance program, including supervision of our independent third party technical manager by our own staff. Additionally, our technical managers maintain the quality of our vessels by carrying out regular inspections, both while in port and at sea. We believe that this ongoing maintenance program can ultimately reduce periods of off-hire and increase revenues.
Pursue an appropriate balance of time and spot charters.
Maintain low-cost, highly efficient operations.
Capitalize on our management team's reputation for high standards of performance, reliability and safety.
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