Shippers Look Good

Mon Aug 18, 2008 1:08pm EST 2

In the group, I like Genco Shipping & Trading Limited Genco Shipping & Trading Limited [[GNK]] & DryShips Inc. [[DRYS]]

If DRYS gets over 79.45, I like it for a trade.

No Man’s Land

Mon Aug 18, 2008 12:31pm EST 1

Looking at the [[SPY]] , which measures the S&P 500, we can see that we are still in this upward channel, However, should the trendline be broken, the market will buckle.

The question is, will we bounce? or breakdown?

If i had to put money on it, I would say we breakdown.

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Morning Strength

Mon Aug 18, 2008 10:09am EST 1

This morning strength can be found in a select group of stocks. Ag is one group that looks strong with Merrill out positive on Monsanto Company [[MON]] .

You can also find strength in the shippers, as Gio has been dead right on the turn of the group.

Solar stocks were ripping in premarket on the backs of Trina Solar Limited (ADR) [[TSL]] and could run all week depending on a few reports. According to iBC’s new software the top plays in solar are:

SunPower Corporation [[SPWR]]
ReneSola Ltd. (ADR) [[SOL]]
LDK Solar Co., Ltd. [[LDK]]

Energy names are also bouncing, but for how long? Many traders are waiting for a bounce in the group and have yet to really see one, will we finally get a bounce? Check out this chart by Stewie.

We are in the dog days of summer, trade well.

Note: Watch Synaptics, Incorporated [[SYNA]]

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