Seaspan Corporation operates as an independent charter owner and manager of containerships in Hong Kong. The company charters its containerships pursuant to long-term, fixed-rate time charters to various container liner companies. As of May 27, 2016, its fleet consisted of 89 vessels. The company was founded in 2005 and is based in Majuro, Marshall Islands.
Took a 1000 share position at 6.65 a couple days ago, still holding but this is why I hate to invest in stuff. Totally got the trend wrong. Long term it has tons of potential but it's tying up cash and losing value.
This is my only long position that I have cash tied up in. W the div cut it still pays around 8%. I plan on holding long term, just missed the bottom big time.
Dumped these to at 6.56, kept the free shares built up from trading it in the past. Still like it but only when I don't have cash tied up in it.
And we are off to the races, nice little sell at open and it never looked back. Added some more freebies for the stash. Cha-Ching
In 6.65 a whole bunch of shares, lol. Tempted to hold it long and let it ride, div is .125 x date is tomorrow. Decisions,decisions..
It been going sideways for a while, at least the sellers are easing off, now we just need a good volume day to push it above $7!
I think maybe the damage is done, cutting the div by 67% and the Hanjin b.k. Might even beat earnings. Undecided if I hold or not though, it will drop .13 at open due to x date. Notice how they run it back up at closing, could be wrong but I see accumulation here. It's shorted all day long as the bears still have the upper hand shaking the tree to flush the weak hands. I held my new position and will collect the dividend.
Bought some more near lod, long term hold for me. Can't trade much anymore at work, we are SLAMMED. I now hold 2 positions long.
Rode the storm out and it looks to have paid off. I hold a very large position in this, at least to me. Will receive the dividend and plan on holding this long term, my guy says this is a jewel in the rough and to hold. Possible choppy waters ahead but it currently pays around 8% in dividends plus capital appreciation.
Took a lot of trading, averaging down, still took a decent hit but I'm out. Learned that I'm a lousy investor but a lot better at trading. Dumped all hold positions today.