% | $
Quotes you view appear here for quick access.

DryShips, Inc. Message Board

  • yabadabadoo360 yabadabadoo360 Oct 25, 2013 10:29 AM Flag

    Buying on this technical rebound is very risky as shipping rates continue to fall!

    A big breakdown yesterday in DRYS share price down thru $2.80, all the way down intra-day to $2.70, it is not surprising at all that there would be a technical rebound. That's the trap! Unless shipping rates stabilize around where they are right now, and rise a tad in order to get back to breakeven for industry costs, the current share price will not hold and the decline will resume. And don't expect any sustained upside in share price until shipping rates start rising again and continue to do so. This continues to be both a technically and fundamentally high risk time for DRYS right now. GLTA

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • In fact, had I not already sold the remainder of my DRYS position back up around the $3.50 level, I would be selling into today's strong technical rebound!

      I follow this industry group religiously, and appreciate the volatility of its swings, and it's potential when clear secular trends take place. I do not like that this big drop in shipping rates off their rally highs has occurred in the middle of the Oct/Nov time frame, historically the strongest part of the fall shipping rate season; and I have no interest in trying to catch a falling knife. At this point, today seems to be a gift to those looking for a chance to sell at a slightly higher price. The stock is trying hard to find support at the $2.80 level, but buy at your own risk.

    • early candidate for moron post of the day

0.5926+0.0225(+3.95%)Jul 2 4:00 PMEDT