Friday, November 6, 2009

Genco Shipping (GNK) Update

Genco Shipping (GNK) look bullish on the technicals, bouncing off not only its 200-ma...BUT the lower end of the triangle formation. That $19.50 low side target I suggested was spot on! see previous post

Diana Shipping reports earnings this coming Tuesday, with Warren Buffett's railroad investment (coal play) along with Joy Global just finishing an Industrial Conference and gave a optimistic outlook/trading near 52 week highs. This bodes well for the China/commodity play and for dry bulk shipping stocks in 2010.
*click chart to expand image

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