I am looking at the following shippers and tankers to benefit from any speculative froth which may be appearing in the market. All four charts below are reasonably solid technical setups. I have been watching DSX and STNG for a while now, in particular. Both seem ripe to attract hot money if the bears continue to fumble one underlying negative divergence after another.
________________________________
________________________________
________________________________
________________________________
If you enjoy the content at iBankCoin, please follow us on Twitter
Hi Chess, I had been looking at the shipper’s for a bit and they do like one of those sectors that just has to pop some day.
With a pull back in the S&P imminent and the Old “Sell in May” caveats that people spout which is likely a self fulfilling prophecy. Would that not overrule the technicals you see?
Ie…could shippers as a group do well in a bad market period ….or if you made a bet, just use the appropriate stops? Is now the time to make the bet?
Hi, Mark. I think price matters above all else. You could see a false breakout and reversal lower, which would be the sell in May bull trap.