Shipping Stocks (NYSE: SEA) Getting Ready to Move - Mike Swanson (03/08/2013)
One of the most interesting stock sectors right now are shipping stocks. They crashed in 2011 and spent 2012 forming a long stage-one base. Towards the end of last year they rallied up to the resistance area of that base and have been pausing there for the past few weeks.
Check out the shipping stock ETF SEA for example:
SEA has been consolidating for the past few weeks with resistance at around $17.50 and support at $16.60. If looks like it is getting ready to break resistance - once it does it will clear its stage one base and enter a new bull run.
The shipping stocks caught my eye the other week and I bought VLCCF. It has resistance at about $7.20 and pays a 10.50% dividend. That's a juicy income for just holding a stock. If it breaks out though I think it can double from here over a year.
Another one I'm watching is NM:
NM appears to be breaking out right now. It is paying a 6.30% dividend.
Oh and I also bought good old ESEA - Euroseas is a $45 million market cap Greek shipping company that pays a 6.00% dividend. For every share it has 74 cents in cash and has a book value over $4.00.
Shipping stocks tend to move with global markets and commodities. They crashed when both went into bear markets in 2011 and should do well the rest of this year. Its hard to beat owning a stock that pays a big dividend and rises in a bull market.
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