Sold Seaspan at USD 9.57 yesterday. The stock was still falling in a rising market. The market is now valuing the common shares as though the dividend will be cut, possible eliminated. Loss of USD 5311.62 (incl. dividend).
The shipping sector is still interesting, and I'll look at Maersk or Seaspan again later for a cyclical recovery. But its a long way off.
When I'm so far underwater on a position, better to sell and realise the loss first. It helps me to clear my head when thinking about whether I would buy the stock at the current price.
10 Sunday Reads
3 hours ago