Ship It!

Shippers like DRYS and EGLE are screaming higher again today. Much like the solars, though, it is tough to trust rallies in the shippers given their propensity to sell-off often much more viciously than their ephemeral rallies. 

Nonetheless, it is worth keeping tabs on some plays ancillary to the shipping industry. 

Golar LNG, for example, is one of the world’s largest independent owners and operators of midstream liquefied natural gas carriers. When shippers and oils rally, GLNG can often flourish. 

On the daily chart, below, you can see GLNG attempting to clear well-defined resistance in unison with the rally in shippers and even crude as it bounces back today.