The shipping theme continues to emerge with the $BDI breaking from a range that formed trough to peak from February 2012 through April 2012.
 |
| $BID |
Individual shippers and perhaps the ones worth paying attention to further down the road also have been breaking out with 5 on my list having moves of 4% or greater today. Many of these have been in deep neglect and at or near historical lows. One of the inherent problems with these types of stocks is the lack of linearity as price has a tendency to jostle haphazardly. Now that the $BDI has broken out and should the shipping theme play along, this type of price action should wane as persistent buyers step in. This will also show up with more consistent momentum rankings on a 3 to 6 month time frame.
 |
| DRYS |
 |
| EGLE |
 |
| NM |
 |
| PRGN |
 |
| PRGN |
No comments:
Post a Comment