Just to give you some quick info when a stock consolidates like drys is doing today in a tight range, they are setting up for a bounce to the higher side. in other words it should gap up monday morning. in other words kaching kaching $$$$$$$$
We have reversed our VBe candle pattern. RSI has turned Bu, yet until our 20 and 50 SMAs catch up, I expect $5.91 to be our current support. When TDD and Stoch. flips, I'll think it is time to say $5.91 will hold... probably happens early next week.
Just a little time to consolidate. What I like is that we worked off some of the overbought status, and we took off some of the heat on the averages... mo' beyond .51 can be a problem.
Well, the buyers are getting a fast growth deep rig operation at book, and a free shipper on the side... maybe we will get lucky, and G.E. will do what he originally planned by breaking apart the two. We get one share of NEWRIG for every 3 of DRYS... sure, DRYS will dive and we will sell it, but we will realize the true value of the rig company at the same time... an overall win, when you have a $3-$5 shipper stock, and a $6 rig stock with upside.