LONG PXS (oversold, strong trend, 4 down days)I always like trades where 2 different systems both say "buy". My usual system is the reason I'm taking the trade, and per usual, I'll keep buying lots as long as it is oversold and sell when they become overbought and profitable.That said, there are 2 other reasons I like this trade.
First, PXS is in a strong uptrend that began last September. "The trend is your friend" is the most ironclad piece of chart analysis advice that's ever been given, in my opinion. Trading is a percentages and probabilities game and trading with a trend (unless a stock is MASSIVELY overbought) always improves your odds. Trading stocks above their 200d MA is a simple way to determine this, but frankly the eyeball test works best for me. A trend has to be very strong to be immediately visible glancing at a chart, and those offer the best opportunities for the mean reversion trading I do.
Secondly, I am a big fan of Larry Connors and much of what I do has its roots in his ideas. A variation of one of his strategies is a very simple one, that yields solid and consistent results. 4 out of 5 days down is a strategy that overlaps what I do, but also gives a stronger signal when it coincides with what my personal analysis says. Basically, if a stock is down 4 out of the last 5 trading days, and is below its 5d SMA, buy. Sell signals can be one of two - sell when the close is above the 5d SMA or when the stock hits a 5 day high. Now that isn't Connors' original plan (you can look it up if you want to get the original) but I've found both exit strategies to work well, especially when they both signal at once.
So here with PXS we have ✅oversold based on my algorithm, ✅ strong uptrend, and ✅ 4/5 down all saying "green light" for this trade. I'll enter on Monday, as long as the open is around the Friday close price. I prefer to look for these near the close and buy then, but I've been busy lately and the weekend was the first chance I've had to look for some new ideas.
As always, this is just a log of my trading ideas and isn't investment advice. I wish you luck if you choose to trade it yourself, but do your own due diligence!
PXS trade ideas
$PXSThis crazy shipping crisis, explained
As we head closer to the second anniversary (if that’s the right word for it) of the pandemic, it’s clear we’ve made some great progress fighting COVID-19.
We have testing and vaccines that work. We know masks and social distancing are effective. Despite the nagging disruptions that mark much of what we do — and even worse the horror of continued sickness and death — in some ways, we can hope that the worst is behind us.
But not all of it. An under-recognized characteristic of any pandemic is its nonlinear course, which delivers, in true viral fashion, shocking, unanticipated consequences. That brings us — 20 or so months into the COVID-19 pandemic — to a vast oceanic parking lot dotted with scores of giant container ships off the ports of Long Beach and Los Angeles.
No doubt you’ve heard how the world’s supply chain is being stressed like never before, resulting in shortages and delays in everything from semiconductors, to cars, sneakers, exercise equipment, and Rolexes. Initially this was because factories in Asia (for example) had to close for weeks or even months because workers were sick with the coronavirus. That was true and still is the case in Vietnam, for instance.
Now the pain point has shifted to ships. What we are witnessing is a massive, unprecedented traffic jam of humankind's largest sea vessels that is at the very core of the conundrum.
“I don't think anyone's ever seen anything like this in their careers, anyone who's alive,” says a board member of a large shipping company whose family has been in the business for decades. "Containergeddon,” is what Steve Ferreira of shipping consultancy Ocean Audit calls it, according to Reuters.
How bad is this? How did it happen? What does this mean going forward? How will this impact the U.S. economy? And how and when does it get resolved?
Let’s start at the very beginning, (as Maria von Trapp might say). First understand that 90% of the world's global trade is shipped by sea, with 70% in containers. Over the past two decades, a number of trends have shaped the business.
First, when it comes to the United States, we have been increasing our outsourcing and reliance on imported goods. Example: In January 1985 (as far back as data went), we imported $293 million of goods from China (and had a positive trade balance). Flash forward to today, in August of this year, our imports from China totaled nearly $43 billion. That’s up 146-fold in 36 years. Our imports from Asia across the board are up. China is the No. 1 exporting nation to the U.S., but Japan, South Korea, and Vietnam are also on the top 10 list.
Second, companies and consumers increasingly count on just-in-time inventory systems to order goods. That makes for lower inventories, which reduces costs for U.S. companies and allows consumers unprecedented immediate gratification from a global cornucopia of goods. Example: If Pottery Barn needs 50 couches from China, the company orders it, and two weeks later or three weeks later, the couches are on the West Coast of the United States.
Third, the shipping business over the past decade has not been very profitable — ”a fricking nightmare” my source called it — until now (see below), which meant there was little investment in new ships. Meanwhile in the U.S., railroads have been cutting costs and reducing headcount. This on that last point from an AP story:
“More than 22% of the jobs at railroads Union Pacific, CSX and Norfolk Southern have been eliminated since 2017, when CSX implemented a cost-cutting system called Precision Scheduled Railroading that most other U.S. railroads later copied. BNSF, the largest U.S. railroad and the only one that hasn’t expressly adopted that model, has still made staff cuts to improve efficiency and remain competitive.”
Pyxis Tankers Inc. operates as a maritime transportation company with a focus on the tanker sector in the United States. Its fleet transports refined petroleum products, such as naphtha, gasoline, jet fuel, kerosene, diesel, and fuel oil, as well as other liquid bulk items, including vegetable oils and organic chemicals. As of April 12, 2021, the company operated a fleet of five tankers. Pyxis Tankers Inc. was incorporated in 2015 and is based in Maroussi, Greece.
PXSPyxis Tankers Inc (NASDAQ:PXS) is one for the bottom pickers. Upside volume is picking up and a rounding bottom is taking shape. I have been following and accumulating this stock for a few days now. The trend should resume back up in the very near future. I could be wrong, but I did not find a reason for the drop in shares as it did. It was likely a consequence of the negative market environment in the small cap index. Consider shares to be at a bit of a discount if my speculation is correct. And honestly I have a lot of confidence regarding this.
PXSPyxis Tankers Inc (NASDAQ:PXS) has witnessed an excellent uptick overall during the past few sessions and it has been correlated with increasing volume. The stock closed 8.74% higher to 1.12 on Thursday after consolidating over 1 week within a narrow range. Considering the recent increase in volume, accumulation and money flow, I believe PXS could make a solid move higher given both its fundamental and technical factors. Momentum picking up with MACD climbing and RSI rising. In the past, PXS has experienced surges in valuation of over 50% in just days. MACD History on the chart above repeats for itself. Keep a close eye on PXS next week because it could be a strong play.
$PXS tight Bollinger Bands, Low Float, Has Spiked Up Before* Tanker Shipping Rates are Extremely High, Highest Ever in Q4
* Analyst Consensus Price Target is $2.25 ~ A Double
* In Q4 Renegotiated Rates Higher by 25% On 2 MR Tankers & One went to Spot, Which is Even Higher
* 2 Handy Size Tankers On Spot Rates, have seen incredible Spot rate Spike in Q4
* Sold 1 MR Tanker at a profit in Q4 $13.5M dollars Strait to the Bottom Line, giving Delivery to new owner Jan. 1
* PXS Will be Profitable In Q4, for the 1st time in a long time
* PXS has Spiked Double, Triple, & Quadruple in Previous Novembers back to 2016,
On Loosing Money Quarters.
* PXS Float is 3.88M, If 1 fund buys a Measurable amount.
Watch Out Above !
$PXS WedgeEarnings Beat
Tanker Rates Spiked Up In Q4 to the Highest In 15 Years
Iran Sanctions that Caused Q4 Spike Go back into affect December 20th
IMO 2020 Fuel Regulations are Expected to Increase Tanker Rates Substancially, & Many Many Tankers Will Go Off Line for 6 Weeks Each
to Have Scrubbers Installed to Clean The Ships Exhaust to Meet CO2 Reggulations.
PXS - Bullish Momentum Still RunningPyxis Tankers, Inc. is an international maritime transportation holding company, which engages in the maritime transportation business with a focus on the tanker sector. It acquires, owns, and operates tanker vessels that are capable of transporting refined petroleum products such as naphtha, gasoline, jet fuel, kerosene, diesel, and fuel oil. The company was founded by Valentios Valentis on March 23, 2015 and is headquartered in Athens, Greece.
SHORT INTEREST
187.12K 09/13/19
P/E Current
-4.07
P/E Ratio (with extraordinary items)
-2.93
Average Recommendation: BUY Average Target Price: 2.00
PXS - Bullish Momentum Gaining StrengthPyxis Tankers, Inc. is an international maritime transportation holding company, which engages in the maritime transportation business with a focus on the tanker sector. It acquires, owns, and operates tanker vessels that are capable of transporting refined petroleum products such as naphtha, gasoline, jet fuel, kerosene, diesel, and fuel oil. The company was founded by Valentios Valentis on March 23, 2015 and is headquartered in Athens, Greece.
P/E Current
-3.72
P/E Ratio (with extraordinary items)
-2.68
Average Recommendation: BUY
Average Target Price: 2.00
PXS - Recover ON The Horizon...RISKY MOVEPyxis Tankers, Inc. is an international maritime transportation holding company, which engages in the maritime transportation business with a focus on the tanker sector. It acquires, owns, and operates tanker vessels that are capable of transporting refined petroleum products such as naphtha, gasoline, jet fuel, kerosene, diesel, and fuel oil. The company was founded by Valentios Valentis on March 23, 2015 and is headquartered in Athens, Greece.
SHORT INTEREST
204.45K 08/15/19
P/E Current
-3.03
P/E Ratio (with extraordinary items)
-2.18
Average Recommendation: BUY
Average Target Price: 2.00
$PXS PXS Pyxis Tankers: Double Bottom, Bullish HammerPXS had a Double Bottom at the Bottom Bollinger Band With a Bullish Hammer.
Analysts have a 10 Rating on the Stock, Both Clean & Dirty Product Tanker Rates are at a 3 1/2 Year High
Which recently Happened In the 4th Quarter.
The Float of the Stock is a Meager 3 million shares with
the Other 82% Owned by Insiders
The Chart & Fundamentals Look Like Today It Hit an Absolute Bottom with the Ships they Own Valued at Scrap Steel Value
I Think There Is Room to Run.
Analysts Price Target is $2.50
PXS waiting, waiting, breakout!This is a lesson in PAYtience!! Looking for a retest gap, opening at $1.35/$1.37 with a small run upwards, then down to retest $1.32/$1.30. This is perfectly in line with trending support action, and if volume reacts, this could pave a new bull motion outside of the $1.18 - $1.35 channel. I hope the double bottom gets confirmed with bull movement. MACD is parallel, waiting, waiting...RSI is quietly waiting, waiting...
However, the one kink in all of this is Earnings, right around the corner!! I hate playing towards approaching Earnings! Please let there be only good news, minimizing bad news impact.
*Let's see what happens!*
*Disclaimer- I am not a financial advisor. These are merely my opinions. Do your own research and formulate your own opinions regarding any moves you make. Seek professional assistance.