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Cramer Likes the Dry Bulk Rally, Ag Stocks Room to Run
by Max Magee | November 18th | Filed in: Stock Sector News
Tickerspy’s Dry Bulk Shipping IndexDRY BULK SHIPPING INVESTING IDEAS
DRY BULK SHIPPING COVERAGEShippers with a focus on solid bulk cargo
DRY BULK SHIPPING CHART DRY BULK SHIPPING METRICS
Former hedge fund manager and rapid-fire stock picking guru Jim Cramer turned has bullish on shippers and agricultural stocks. In his daily blog post at BloggingStocks.com, Cramer had this to say to bulk shipping and agricultural stock investors: “You are now about to look like a genius again.” The sectors suffered during the recession, and despite some impressive rebounds from lows, components largely remain well below last year’s high water marks. On bulk shipping rates Cramer said, “When I saw them this weekend I thought it was a mistake.” Perhaps he should have listened more closely to China Ocean Shipping (COSCO) researcher Kong Fanhua, who called an 80% rally for the Baltic Dry Index back in September. The bulk shipping benchmark has now surged well past the 4,000 target Fanhua said it could reach by the end of the year. Meanwhile, the Dry Bulk Shipping Stocks Index has outperformed the S&P 500 by 12% in the last month. Cramer noted DryShips (DRYS), Diana Shipping (DSX), as well as Shipping Stocks Index components Nordic American Tanker (NAT) and Frontline (FRO) among plays on the sector. As for agricultural stocks, Cramer highlighted Agricultural Chemical and Fertilizer Stocks Index components Monsanto (MON) and Potash of Saskatchewan (POT), noting that the fertilizer sector is “at a bottom worth playing.” He called Deere (DE), which can be found in the Farming, Mining, and Construction Machine Stocks Index the most controversial ag stock in the bunch, but he thinks the stock has set itself up well to impress with next week’s earnings report. For more on these stocks, and more than 250 other sector-based equity Indexes, visit tickerspy.com.
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November 19th, 2009 at 3:15 am
I agree and added to preexisting allocation in these sectors today.
November 21st, 2009 at 9:19 pm
AG stocks are absolutely a good bet now. Be careful with drybulk as long as BDI and FFA are falling.
December 1st, 2009 at 7:34 pm
My friends all thought I was being silly when I told them I invest in POT!!!