While the Nasdaq was busy Selling off hard Friday, bleeding in earnest with high volume (See QQQ chart below) , and all the MOMO stocks like PCLN, AMZN,NFLX and other market darlings were being thrown overboard last week, something odd was also happening…
The Beaten down , almost hated “SHIPPERS” were actually setting sail! And do you know why?? well,
– SO Am I recommending them? Well, I DO recommend keeping an eye on them, because the volume that came into a few of them had that “REAL” look to it, despite some of them selling off a bit as the day went on. I love when hated sectors , or “feared” sectors begin to light up , so I will just post a couple of charts below to show that , the way I “SEA” them, they may be setting up for an upside move.
BALTIC TRADING (And this chart isnt ugly)
EAGLE BULK SHIPPING
GENCO SHIPPING (yes, it Sold off end of day, but still up 27% that day at the close !!)
While watching these SHIPPERS, to see if an opportunity to trade them arises (I will be Tweeting if I see something) , I also really like the set ups possibly forming in COAL (KOL, ACI, ANR BTU, WLT ) as mentioned in my last report. ALSO the ENERGY plays that I recommended in my “ENERGY” report did not feel the heat Friday either. I am still in many, as well as AKS, from a report 2 weeks ago, as I mentioned that I expect a cup & Handle to form, so far it is working out that way.
Since I am watching COAL stocks, a reader asked if I’d do ETF charts too
(request a specific ETF & I can take a look at it too) So here is …
KOL WEEKLY & DAILY – Coal Etf
This KOL daily was posted earlier in the week in another report
If you missed these reports, click the red ChartFreak at the top left corner of this site and you will return to the homepage. All reports can be found there.
Thank You for reading and as always , feel free to leave a comment in the comments below.