Out of the QASPer, and didn't change the bid or ask...
SIRIUS XM SATELLITE RADIO FORUM
Out of the QASPer, and didn't change the bid or ask...
OCNF 3rd Qtr results
OceanFreight Inc. Reports Financial Results for the Third Quarter 2009
Press Release
Source: OceanFreight Inc.
On 4:05 pm EST, Tuesday November 10, 2009
Companies:Oceanfreight, Inc.
ATHENS, GREECE--(Marketwire - 11/10/09) - OceanFreight Inc. (NASDAQ:OCNF - News), a global provider of marine transportation services, today announced its financial results for the quarter ended September 30, 2009.
Financial Highlights
For the three-month period ended September 30, 2009, the Company reported Net Loss of $13.3 million or basic and diluted loss per share of $0.15. Included in these results are:
�
-- A book loss of approximately $20.8 million associated with the sale of
the M/V Richmond which was delivered to the new owners on September 30,
2009.
-- A loss of $2 million associated with the change in fair value of
interest rate swaps.
Excluding the above items Net Income for the third quarter of 2009 would be $9.5 million or $0.11 per share.
Anthony Kandylidis, the Company's President and Chief Executive Officer, commented:
"Excluding the one off charges due to the sale of an older panamax vessel, our net income on an operating basis would have been about 11 cents per share, well above analyst expectations. OceanFreight is very privileged not to have any capital commitments at this time. With our proven access to capital and our track record of sourcing modern high quality tonnage with fixed employment we continue to renew our fleet and enhance the longevity of our cash flows. As of the day of this press release we have secured gross revenues of $115 million until the end of 2010 with 92% fleet charter coverage for the remainder of 2009 and 72% for 2010. We remain uniquely positioned among our competitors to use fresh capital to finance asset opportunities at historically low values, which we believe will be accretive to shareholder value over the long term."
OCNF
picked up another 2k shares this am at .994 Now 3k shares avg at .972
Bill
How long are you going to ride OCNF...let know when you plan to sell...so we can hold and ride the up wave! hahahaha
The Street/Real Money- has put out 7-8 articles in 2 days trashing SiriusXM! What a bunch of a-holes!
dr dave, NPWZ. yeah its got a strong support line here around $1. but im really terrified of the death cross approaching. as you are well aware if they cross, the 200 will be new resistance. the optimal play here if you want to do one is play a bounce of the 50 off the 200 if it does one. if it crosses , i would just stay away not worth the risk reward. this thing has got to resolve soon. i know you like to use tight stops, i guess if you feel like this one will break on the upside theres always a play there with the long term wedge as well but how long will it take for that one to play out and will it be a high reward trade?
I was thinking in at 0.95 and out at 0.85 - but wanted to see what some of the speculators thought - if they think this management team could go somewhere... the whole thing seems much more real than the other penny plays.Originally Posted by bassmaster
I think you are right about one thing for sure, the break - so far, all the breaks are in a downtrend 1/2 cup - those are dangerous. If it flattens, I think the breaks will form the other half. Thanks a bunch for bringing up those comments. Afterthought - the fact that it's hugging the low side of $1 says it's likely to head lower than higher.. so gotta watch it.
im looking at a chart on the wheel going back to april of last year. looks like a support level of around .83 and resistance around 1.33. so judging off that, i dont like your stop of .85 as i think that would be a buy point if it held. since the big run up it tested and rebounded off 1.33 support once. then tested it again and failed to hold. that 1.33 has now turned into resistance and has tried 3 times to break it and failed. now im not saying you cant make .30 profit on this if it tries to break that resistance line again, im saying if it breaks that line again and holds, the profit potential is a 6 or 7 bagger.
and oh yeah i know your looking for a more fundamental view, i just thought i might add short t/a opinion on it. hope you dont mind.
Last edited by bassmaster; 11-10-2009 at 09:13 PM.
LOL, I never mind - especially when you're bringing up my mistakes - ie. not going back far enough in time!! You're TA just keeps getting better and better!
Also - I value everyone's opinion here.
Last edited by Dr. Dave; 11-10-2009 at 09:19 PM.
Lol, I sold 10 mins from the close... at 0.0132, then I see it forms a quasi-hammer at 0.0139 to close perfectly on the line I drew. If it closes up tomorrow, I figure I lose, as that would be a nice reversal head fake. Good luck to everyone still in it!
Boy do we need it!
I am beginning to miss the days of SIRI turmoil by way of comparison ... This thing has given me some sort of Cybil complex, I don't know who I am anymore or even what I believe ...
For want of a PR ...
dr dave, reading the bulkowski. all i can say is WOWOWOWOW.
Reply With Quote