Tuesday, June 17, 2008

DRYS


I was reading this thread on EliteTrader about this guy that was long and bullish on DRYS a few weeks ago. He let it go from his buy point at 94, down to a recent low of 71.

"05-28-08 09:39 PM
The trend had a solid reversal today and skyrocketed back to 95, and it looks like an easy shot back up to 115 and longer term 150 and above.

I bought 100 shares of DRYS at 94.26 by accident on Friday and watched it slump to a low of 85 yesterday. Today I broke even and then some and am looking to book a handsome profit over the coming weeks. The stock has a low P/E ratio of 6 or so and the fundamentals are absolutely sound and the technicals are also there with the elusive "golden cross" formation looming.
"

Looking to Logic for reasons why the stock should be going up-

"Ok, increased demand for coal.
Dry ships transport coal.
Increased demand for iron ore?
Dry ships transport iron ore.
Increased demand for grain?
Dry ships transport grain."


Turning Bearish on DRYS, BUT STILL LONG-
" 06-10-08 11:15 AM

DRYS is a fucking piece of shit stock, strong sell. It's sickening to watch if you're long. Probably a real delight for shorts. SHORT AT WILL, it's going down to 60.

TIMBERRRRRRRR

(disclosure: long 100 shares at 94.26)
"



The Baltic Dry Index-

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