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DryShips, Inc. Message Board

  • lookoutgrady lookoutgrady Dec 5, 2007 4:19 PM Flag

    Any idea what's wrong?

    DOW +196, NASDQ +46, S&P +22, DRYS -.47 - She usually traded with the market trend, therefore some must be wrong. Could anybody with access to BDI look up latest quotes? What else could it be?

    I have a rather large position in SEED, which was up 22% to together with CHNR, and didn't follow DRYS very much, but would appreciate serious answers

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    • I see 75-80 before a turn around!

    • look at the chart the stock is damaged There is 19.5m shares in the float, on Oct 30th one day after the all time high of 131.34 it sold off down 24 points on 11.5m shares, as I said there is only 19.5 in the float, thats more than half the entire float! On Oct 30 the institutions (pros with the big money) took their 300% profits and left the stock behind. Now there is huge overhead resistance around $100. Once the stock finds a base, it will most likely trade in a range, no stock goes up forever.

      • 1 Reply to haramicross
      • Seems we agree with regards to market manipulation by big institutional investors. It appears to me that precisely for this reason this stock will not be left at this level forever. The stock was up to 131, and buyers will buy on the hope that this will happen again. Consider it proof of concept. The way I see it, the last action we have seen during the past week is the last institutional shake-up of investors playing long. It must be nervebreaking for many people to see the market going UP big time, while their stock goes down big time.

        Could this strange action in DRYS, EXM and DSX caused by institutional investors positioning themselves for the Fed cut rate a possible end-of-year rally? After the split the three stocks will be in the 30-40something range, so at that point they would look equally "cheap" to the uninformed investor that simply looks at stock price to make a decision. If a fund has accumulated a certain shipper, I think it would be in their best interest to try to manipulate the stock down (to be able to load more stock), and at that lower price they would become more attractive to buyers. I have seen many stocks act weird, but this type of action just seems too weird to me. Fundies trying to outsmart each other?

    • That new cago ship they're buying is expensive.
      They're going to be taking on alot more debt.

    • the entire fleet (sector) has been selling off. Something smells a bit fishy here. I'm selling @ the opening bell. I think new shorts may drive it up a point or 2 but the trend is definitely down.

    • Anyway, at some point DRYS will catch up with the market. Let's see tomorrow. Although it is very early, Dow futures are pointing sharply up. Some Asian markets just opened and are up (on average Korea indices up 2%, and Japan indices about 1.5%). Tomorrow should be a very good day.

    • Fundie market manipulation. Playing the past 3 days downtrend to get a better deal and stay well positioned for the next week Fed cut rate.

      Deer in the lights syndrome? Probably a bunch of people are still holding shares they got at >$100 and not moving either way. That might be adding a lot of inertia to the stock. If a stock in moving consistently high like DRYS was, you get a contant influx of new buyers and existing buyers get more stock, and that adds to the momentum. Now I don't think too many people are eager to jump into this ship, and those in the ship don't seem to be too eager to buy more stock; thus, we don't move up.

      The inertia this stock had has simply reversed. Before, no matter what happened, good new or bad news, the stock kept climbing. Shorts were flabbergasted because the stock would not respond in a logical way and many people lost their shirts. The stock was moving irrationally up. Now it's doing the same the other way, and it is moving irrationally down.

      The split might help by bringing "new customers."

      If that doesn't work, the best we could ask for would be a complete capitulation of the stock and go down 20% or 30%. This stock needs a good shake up so people that are not moving either way (just holding) get a good incentive to do something.

    • The market appears to be sticking near the 9pe times 07 earnings of 9 bucks. No one seems to have the answer as to why the 2008 hard eps estimates of 20+ BUCKS is not being figured into the current price..Ask from now until 3/08 and you'll get no definitive answer.

    • MM took all wind out of this stock from -->80 to 130 to 80.
      Momentum is gone.
      fundamentals will prevail. Oversold is oversold which is where this stock is right now. Have a longer view of even a few months.

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