GNK's chart looks good. I day traded them twice very profitably way back when in the nearly rebounding heydey of dry bulk (6/4 & 6/5). Where's our resident expert Cygnus Atratus
Wonder where dryships is going tomorrow, considering the outcome of today's investor conference in New York featuring none other than our very own Gorgeous George. hah glug glug glug. Just go up to $130 already
DRYS has been going down but its time to buy DRYS again. A close above 85 will get me excited. We may be getting ready for another run toward 100.
Closed my TBSI short (opened at USD$5*.**) when it printed USD$**.**. Capesize rates (real driver for overall dry bulk sector) are looking mixed. Donno what they are smoking but steelmakers are accepting iron ore prices 95% higher than last year :eek: , maybe they know something we don't ? Will look at these donkeys again after 3rd week August... P.S. I am by no means an expert, simply do my research before l start shooting and beheading The same stocks you trade are also traded by investment banks, hedge funds, robots, and industry insiders...
It seems that ET posters do not have enough brain cells to do fundamental analysis, but seemingly you people have enough brain cells to still press the buy/sell button. No wonder the quant hedge funds make money, but hey why don't you donate your money to me instead. Here is some fundamental analysis. DRYS stock is somewhat questionable because the one manager GE's (George Economou) ethics are somewhat questionable. Still if you are a relative, I suggest applying for a job. As long as dry bulk shipping rates stay high DRYS will have large earnings. Even more interesting, if any of you ET traders were smart enought to buy Olso exchange stocks, you could buy Golden Ocean dry bulk company run by the Norwegian "pirate"(?) John Fredricksen who actually shares profits with retail share holders by paying large divdends and planning ahead for ship buying opportunities and over-building problems. But hey the second derivative of the Elliot wave doesn't look good to you technical analysts so why bother.
If your so smart tell us what US listed shipper does John Fredricksen control over 30% of the float and often lends a large percentage of that out to short sellers?