Dry Bulk Shippers Act a Little Better

Last Monday I did a post on how bad the dry bulk shippers had traded in the past few days. The action got a bit better later in the week.

Friday, most of the major stocks in the sector had a bullish reversal day (down early, close near the high of the day). Only DAC made a new low last week, the other stocks I watch in the sector are still a bit above their lows.

As far as I can tell, this is part of the sector's base building work, the work that comes after a major collapse such as these stocks have had. It seems a bit early to buy, but do keep your eyes open for opportunities in this area.

On another note: Barrons had some good things to say about the CME this wekend. This is good news for me as I have a fairly large position in the stock. Hopefully we will get a good bounce in the stock this week.