Shipping stocks were some of the most unloved companies in 2011 but so far in 2012, they have shown some incredible strength. Diana Shipping (DSX) is currently sitting above its 200-dma for the first time in over two years. The stock closed up 7.30% to $9.53 today. It rallied off of DryShips’ (DRYS) earnings that were announced in pre-market today. DRYS has been on an absolute tear lately and has been up 7 days in a row. It closed up 11.33% today to $3.34. The stock is up over 55% so far this year. It appears that $135.60 is a tough level for the SPY to break through and has shown resistance here on 2/9 and today.
