Then there's Maude, er, the marine shipping index (SHX).
Check this chart - a resistance break (actually a big base breakout) and only a day away from a golden cross of the 50-day expo average above the 200-day expo. Keep an eye out here if the market survives earnings season.
2 comments:
IMHO, this is a head fake. The punters are chasing yield right at the top. You see similar spikes in junk bonds, financial preferreds, and oil & gas MLP's.
A double dip would kill the shipping stocks.
Paul O'Cuana
Not arguing but short-term there is a little bull flag going on here.
But with each passing day I get a feeling that the whole bull market run-up is going to end very badly.
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