Sino-Global Shipping America (SINO)

[value1008]

Looks like some big money and the momo crowd are trying to get shipping sector hot again like last Nov (2016). SINO saw huge volume today (over 1.3M shares traded today) on move from 2.70s to HOD at 3.28, and Stocktwits lit up with huge number of posts for SINO, DRYS, DCIX, TOPS and some others.

As typical for SINO, it sold off hard today after run-up, but i'm hoping this will see cont'd interest next week and a nice follow-through move back up to a much fairer valuation to at least upper $3s.

I got back in with a small 1k position at 2.90 (after recently playing a small swing trade from 2.78 to 2.92-- saw chart resistance after several days, so i sold out for small gain).

BDI is higher than any time since early 2014, so if the sector wants to get seasonally hot, there's a lot of basis to support such a move.

I don't think SINO can go parabolic like last year (briefly touching near $14), but who knows?
Maybe a move to $5 or $6.....