On the positive side the patterns are near the bottom, so time wise if that does happen, it probably will bottom out within about a week. I have also seen this pattern reverse and not occur, but more often continues down. Katz


Katz, don't think you're far off the mark. As I've stated, I thought the bottom would be between $4.40 and $4.50.
Lets say we are both right and the stock starts building from this floor. Being as volatile as it is, it won't be a quick rebound. O.K. so maybe it climbs to $5.50-$6.00, so what, you still have nothing unless you are a day trader and of course they will unload. With the heavy debt, new ships coming on line from prior contracts, many with no long term contracts, well now, is this the way to establish a profit train to reinstate dividends. Don't think so. 5,000 ships are idle now around the world. When these replacement ships go on line to be sold, they will bring pennies on the dollar there are so many of them. Where will they all go, not all will be sold for scrap. Bottom line here, this is not a profitable sector and credit for shipping companies are tightened up considerably....Its nice for posters to hope, but facts indicate dividend resumption is not in the close future, maybe not for even two years....Sayu