interesting of you to reawaken a 2 month old thread to use more penis analogies. I looked at my trades so far on DRYS, and as we stand now i've lost $32.13 on it. I'm still short $6 Jan puts, and I expect to hold them and will probably roll them out further. Also, I leveraged up in early september and basically did amazing in this past month going long. I closed out many positions and I'm now up 35% in my largest account. So i'm doing ok, no thanks to the penis talk. P.S. If I were you,i'd look to close that short, you've down quite well, and since we're beginning to see signs of $USD inflation and global recovery, DRYS may recover.
Nice trade. Even if I agree with your thesis, I can't trust that quick-handed CEO. Aren't there better shippers out there?
No pj, the Short is still on and stays on till approx. 7 bucks just as I said before I would do. I shall re-post the previous important post (for me only ) to show that my thought-ing has not changed. Remember I'm Short for years now from the first valley down from the Nov 2007 top. Even if I close out the Shorty at 7 bucks, which is a bit higher from current prices, my profit margin is still approx. 90%. So, I am still Short. And yes, its a pure Daily chart play. I am looking to add to Short at the first sign of weakness. I expected the weakness at the 200 m.a. but clearly she has crossed it. I'll wait and will post the result immediately.
reminder, this re-post of October 2 ... says it all and has my strategy therein. Now of course there could be a trend reversal going on now, in which case I'd be taking profits at around 7 bucks as stated. But the thing with trends is that they tend to continue and its best to stick with it till it bends. So to reiterate my thinking, after this rally is over, wherever it goes, I'm looking to add to short as I've done several times as seen in the quote. This time though, the leverage will be higher than before because if the short pans out it will be a wave C down. One other thing, if correct in the continuing shorty , as soon as the low is taken out, I shall close out the deal and cash out. DRYS will go into bankruptcy. just my 2 c. best of luck to all.