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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (3828)4/28/2001 11:59:03 AM
From: Logain Ablar  Read Replies (1) of 33421
 
John:

The reason I sold NAT back in Jan was due to OPEC cutting production. I was thinking lease rates peaked with more supply of ships than demand of cargo. Of course OPEC has been cheating so my thinking of selling around $20 and buying back @ $15 area didn't work out. I was thinking the dividend would head to the 80 cents range.

Also Ugland had entered into a pattern of selling after the dividend and this supply was putting a cap on the price. Now with Ugland acquired I'm not sure if this continues.

Still waiting for the $15 area.

Also in shipping I would only own companies with oil tankers. I expect a lot of weakness with other shiping transportation over the next year.

Tim
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