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Short the Cramer's Pop in OCNF
Last night Cramer mentions Ocean Freight (OCNF) as a stock to buy, to capitalize on the strength in dry bulk shippers and soaring freight rates..
As a result, the stock is trading up about 5.5% this morning in pre-market trading
This is a very good entry on a speculative short sale, in my humble opinion.
Because the Company doesn't even own a fleet of ships yet. This company IPO'ed in 2006, and they used their money from going public to purchase a fleet of 7 ships..SHIPS THAT THEY HOPE TO RECEIVE BY AUGUST OF 2007!!!!!!
So this company doesn't even have a fleet yet, but the stock is charging higher, like a wild bull
This reminds me of the internet bubble and I've opened small short in OCNF at $23.95, in pre-market trading
Whom do you use as a broker that allows short sales in pm? Scottrade does not and it pisses me off to no end when you can see these big down openings coming like this am.
Thanks for the info...another question if you don't mind....do they ever let you short stocks under $5 or enter p/m orders before 8am?
That list of ships is pitiful...bunch of old fuel inefficient discards, good choice with ever increasing fuel costs:roll: Looks like a great short candidate, the market open should scare those new buyers out of that one pretty quick I would think.
You can short stocks under $5.00..
You can enter orders prior to 8 am as well
I highly recommend IB to frequent traders.. I've had wonderful success with them.. and its CHEAP!
