Shippers Finding Key Support?
A trend that has been out of favor for the last two weeks is shipping with leading stocks taking a breadth after some huge runs. Now coming off support are these stocks ready to roll once again?
I have the following stock charts here to show you: DryShips (DRYS), Genco Shipping (GNK), and Excel Maritime Shippers (EXM). All three of these stocks are up thus far today coming off closing around key support yesterday.
For those who are new to the blog, DRYS was a recent selection which we ran from just over $88 to well over $100 in less then three weeks.
More on this topic
(What's this?)
Bought DRYS Call Options to Avoid Wash Rule
(My Trader's Journal, 11/21/08)
Sold DRYS Naked put
(My Trader's Journal, 6/10/08)
Trade Watch: Further Confirmation of Slowdown in Container Shipments
(naked capitalism, 12/18/08)
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Posted by Blain Reinkensmeyer on May 28, 2008 at 10:01 am --
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[...] those who like the dry-bulk commodities shipping trend, then you will like taking a look at the stock I have listed here today. These stocks are heavy [...]