Ships Ahoy!, Part 2

A while back I wrote a post relating to what I was seeing in the shipping industry, Ships Ahoy! Thus far my analysis has yet to come to fruition, but I still believe this is a sector that could very well begin to make a sharp move sometime in the near future. Over the past few days shippers have continued to pop up on the largest percent gainers list and a number of them are at or near their 52-Week high, even in a weakening tape. It's obvious from looking at the monthly charts of a few shippers that they're at or near historical lows. When an industry gets this depressed and neglected, should there be a change of perception about its future potential and it it catches a bid and momentum kicks in there will be opportunity for out sized gains.

DRYS Monthly

DSX Monthly

PRGN Monthly

In part what is beginning to catch my attention again is the number of shipping related stocks that are near their 52-highs.  Of the 47 stocks in the Worden Shipping Sub-Industry, 27 are within 15% of their 52-Week high. 

Along with new highs, I'll be looking for confirmation on the Baltic Dry Index which is very close to breaking a year and a half long range.

$BDI

In anticipation I've added the following list to Finviz and will continue to watch stocks that are up 100% over a 6-month to year period to weed out the strongest in this sector along with scanning for those that are showing higher volume on the monthly time frame.