DRYS just significantly lowered guidence and suspended their dividend. some of these shippers are up substantially from lows. look for sympathy plays; EXM,DSX, GNK(to an extent).GNK is a bit different and better positionmed in other markets but nevertheless,its still a shipper.
Why did anyone pay so much for this stock. Now they have to sell ships to pay the payroll. I see them at 0.01
Barrons is a bigger fade opportunity than Cramer To me this remains dangerous as a short. It is very crowded, and if a fund needs cash, great profits to take here, squeezing it up. Not a very liquid stock. But without a doubt, Barrons writers are without a clue.
It looks like they were inflated for no reason and are crashing down. The whole industry is in trouble.. I would stay away. BT :eek:
The industry may be in trouble but DRYS closed almost $2 higher than opening. I was thinking about buying it in the morning but read too much about how it's collapsing due to reality checks and passed. Now I regret it somewhat. Although Monday it may gap down a few dollars so I'm not too upset.
Barrons now saying buy XOM I will short the pop midday and hold for a week or two. Seriously this is too easy. I was going to short anyway, I became concerned at several talking heads on tv starting to talk up a short. This fixes that. I will get a nice price.