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RE: TIB: Today I Bought (and Sold) - An Investors Journal #277 - Oil Shipping, Fertilizer, US Telecom, Gaming, Korean Steel, US Interest Rates.
Seeing your oil shipping trade reminded me of a position I had in Dryships and a Company called OSG; probably the worst trades in my life... Lessons learned anout trading on emotion but love your setup.
Definitely agree your thought of earnings season saving the day. I don’t think Q3 will be the same as the cracks will start to be seen in a number of sectors.
I was on DRYS too. The lessons learned apply also to offshore oil drilling - a few horrors there too.
You will find in TIB48 and/or TIB60 I did have a look at financials for FRO and NM and STNG - these all have acceptable debt levels and solid enough revenues especially with a rising oil price.
A research panel I contribute to is pointing to Q3 being OK - consumer and business confidence and spending plans are still robust. The quarter after that may be a problem. I will be looking for cracks - hence a fair bit of profit taking and defensive work in my portfolios