[Opening Position in US Shipping Partners LP (USS)]
Dear Member:
US Shipping Partners LP (USS) is a master limited partnership engaged in long-haul marine transportation principally of refined petroleum products. It has been in an uptrend beginning in early March and is just up off that trend line. At current prices, the company has been paying quarterly dividends equally an annual yield of about 16.4%. It has a first target of $12.50 and initial exit if the play goes the wrong way would be below the trend line at around $10.50. With an entry at $10.98, that would give a potential reward to risk of better than 3:1.
I am placing an order to buy shares of USS at a limit of $10.98.
DISCLOSURE: At the time of publication, I have no position in USS.
Sincerely,
Bill Kraft
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