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Excel Maritime - EXM - close: 32.03 change: +3.31 stop: 27.45

Company Description:
Excel is an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, such as iron ore, coal and grains, as well as bauxite, fertilizers and steel products. (source: company press release or website)

Why We Like It:
We are seeing some relative strength in the dry-bulk shipping stocks. EXM really out performed today with a 11% gain and a breakout over short-term resistance near $30.00. We do not want to chase the stock here but are suggesting readers buy a dip. Our suggested entry point is a dip into the $30.60-30.00 zone. We'll list a stop loss at $27.45. Our target is the $35.00-37.00 zone. The Point & Figure chart is much more bullish with a $45 target. We do not want to hold over the late May earnings report.

Picked on March xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 05/22/08 (unconfirmed)
Average Daily Volume: 902 thousand
 

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