JOE G IS BACK AND TALKS HIS POSITION - DSX TARGET $7 LONG
I'm long bulk shipping -
Fundamentally - dry bulk has broken out of 10+ year bear trends. Investments in shipping is very low. Prices based on commodity prices. Commodities are under-allocated and also in strong uptrend.
Technically - there are some interesting footprints since we have had the bull swing, I would be looking for a .382 FB support level for this next move, and then another leg up with a 1.618 target.
This is the third time we've seen this kind of pullback.... nothing to see here.... and inflation numbers very strong today.... industry looks strong for next two years.
DSX in their Q1 call talked about dividends likely.
Fundamentally - dry bulk has broken out of 10+ year bear trends. Investments in shipping is very low. Prices based on commodity prices. Commodities are under-allocated and also in strong uptrend.
Technically - there are some interesting footprints since we have had the bull swing, I would be looking for a .382 FB support level for this next move, and then another leg up with a 1.618 target.
This is the third time we've seen this kind of pullback.... nothing to see here.... and inflation numbers very strong today.... industry looks strong for next two years.
DSX in their Q1 call talked about dividends likely.