Short the Cramer's Pop in OCNF

[AfinaExcib]

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.

[agvamihuuzo]

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

[aitzjida84]

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.

[AidanLomi]

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.

[admin]

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!