|Day Low/High||6.77 / 6.95|
|52 Wk Low/High||3.86 / 12.09|
Great traders will bide their time in this environment and then move big and fast when the conditions are right.
The refusal to gap down at the open was probably a short-term negative.
Look for beaten-down stocks that are trading at discounts to the value of their assets.
It will be interesting to see today if afternoon strength occurs once again.
We need downside to create more opportunities.
For all its volatility, shipping stocks are actually a safe place to be.
Their underlying pricing has improved dramatically in recent months.
The Baltic Dry Index is falling, so some stocks are attractive.
I have, and European names have particularly struck my fancy.
It's certainly been a useful stock-picking strategy for me.
Howard Marks' Oaktree Capital has a track record of finding great underperformers.
Focus on earnings and cash-flow growth, which are what create dividends.