I added to my position in this pullback. Fluctuations day to day are due primarily to mutual funds and instutional behaviors. They are pretty volatile at times. This is a winner fundamentally and mabye technically. I don't really know. Still plenty of upside from this position, plus, dividend is still good at this yield. Let's take a poll, where did you buy, and where do you think we are headed?
Bought at 10, and added more at $13.59 after listening to the conference call.
With this rate environment I think that DRYS could easily make over $4 per share next year. The question how high of a P/E will drys achieve? With their leverage, probably not as good some of the other shipping companies, however they might get close. Even with an ultra conservative P/E of 5, DRYS hits $20, a more realistic P/E of 8 I think we're looking high $20's, low $30's. Just my opinion, and of course this depends on rates, but I think it's looking good right now.
I bought at 12, added at 10.50, and added again at 15.96. What do you think my opinion is. I expect drys soars in near term. I guess some guys in here has sold their shares lately. They gonna regret very soon. It's very simple, drys has good fundimental and the future is even better.