Isn't it possible to do pair trading with them? Buy the oversold, sell the oberbought. In stockcharts.com chart the symbol FRORYS you would want to short FRO and go long DRYS as an example. You could also find som intraday trades. Good luck
Yes and you should have a grip on all those macro economic forces, in any case we all know how to trade parabolic price moves, do we ? Actual its more useful to know weekly average fixtures rates for Capesizes more than anything else. PARABOLIC UP PARABOLIC DOWN 2009 FFA's went into a severe downtrend long before the shippers followed suit. Any way no point for further discussion, l milked my cups, errr actually buckets out of TBSI, GAME OVER till June 2010 P.S. Would you guys trade CHK,BP or other energy majors without a single piece of Data from Nymex, The Ice, Dubai Mercantile Exchange, Safex, BM&F, Opec and IEA ? Do your homework and do not make an easy game hard....
DRYS down to 5.26 at low. Earnings estimate for 2009 is $6.50, guess that number will be revised downward.
i went long DRYS today at 5.87 but i am just trading it based on my opinion its oversold at this price at this time.
$6.50 IS the downward revision, based on Baltic Dry being in the 800's. I would say oversold is good description at this point.
DRYS ships iron ore,coal,and grain. all 3 are down in pricing tremendously which means so are shipping rates., don/t get sucked into a stock that was once hot. does'nt mean it will be hot again.
It's not my opinion. Analysts revised DRYS 2009 earnings from 9.35 to 6.50 just recently based on the Baltic Dry Index @ 829. Considering over 50% of their fleet was locked in at May's rates through 2009-2010, they just reported 3.50/share earnings for the past quarter, and Baltic Dry Index is finally crawling back up, I would still describe this one as "oversold". However, I've come to the conclusion that the word "oversold" has no real meaning in a bear market :eek: When your clients yell "sell" everything's gotta go!
Your opinion that the market differs with was the "I would say oversold is good description at this point." not the "$6.50 IS the downward revision, based on Baltic Dry being in the 800's." And yes, you are correct in "the word "oversold" has no real meaning in a bear market". Low can keep going even lower.