Trade Update: Shipping And Specialty Retail Picks

A few weeks back, we talked about shipping stocks as the unsung heroes of the transport space.

Here's what Eric Bolling said on April 24^th:

“DRY-S. The dry shippers; (they) ship things like grains, coal, and those rates are going up…(There’s a) huge demand for their cars, huge demand for their shipping channels.”

Well this morning, one such shipper, Tsakos Energy Navigation (TNP), jumped 8% on earnings and Bolling's pick, Dryships Inc (DRYS), is up 23% since the call.

Today Eric reiterates his recommendation. He says TNP is ripping and adds “continue to own it.” Eric also likes Overseas Shipholding Group (OSG).

Also due for a trade update; sportswear retailer Zumiez (ZUMZ) They came out with earnings this afternoon.

Here's what Jeff Macke said about Zumiez on March 14th.

"Zumiez! They crushed earnings after the bell. That's my retail name."

Today Jeff says earnings were in-line with estimates and there was nothing wrong with the quarter but specialty retail has to “beat to keep” and the stock slipped 5%. He likes Zumiez now that it’s cheaper.

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Trader disclosure: On May 23, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders:
Najarian Owns (JPM), (BIIB), (FITB), (OVTI); Bolling Owns (DIS) Gold, Silver, Coffee, Sugar; Bolling Is Short (FXI); CNBC Is A Service Of NBC Universal And Dow Jones