EXM Bounce

Watch Dry Bulk Sector for Recovery

By Bryan Bottarelli
Monday, June 16, 2008 12:57 PM EDT
Mon, 16 Jun 2008 16:57:00 GMT

Dear Bottarelli Research Member,

As I mentioned this morning, I’m making a concerted effort to limit our trading ledger in the midst of this current up-tick in market volatility. But I would like to point out that we could have a bottom-feeding opportunity in the dry bulk shipping sector, especially when it comes to shares of Excel Maritime (EXM – NYSE).

EXM

As you can see from the chart the owner and operator of 47 vessels that ship iron ore, coal, grain, steel, fertilizers, cement, bauxite, and sugar has recently fallen from $60.00 down to $35.00. This is quite a substantial haircut. But then today, EXM shares are making a strong upward push — which is something that I consider noteworthy for traders like us. At this time, I am not issuing any new plays, but EXM is certainly one to watch for a possible play going forward. Until then…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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