The thing about DRYS is when it runs it runs, when it drops man it drops. It appears that Market Makers have it set to make a run which will cause shorts to cover and the pps to Run Run Run UP
ATHENS, GREECE--(Marketwired - Oct 31, 2013) - DryShips Inc. (NASDAQ: DRYS) (the "Company" or "DryShips"), a global provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc., of off-shore deepwater drilling services, announced today the results of its 2013 Annual General Meeting of Shareholders (the "Meeting").
The following proposals were approved and adopted at the Meeting:
1. The election of Ms. Chryssoula Kandylidis and Mr. George Demathas as Class C Directors to serve until the 2016 Annual General Meeting of Shareholders; and
2. the ratification of the appointment of Ernst & Young (Hellas) Certified Auditors Accountants S.A., as the Company's independent auditors for the fiscal year ending December 31,
Freakin Morons, non of you have a clue what is going to happen here. Just of bunch of bald fat lazy do nothings trolling this and other boards, the only girl any of you have ever been with is plastic, pathetic idiots.
If your short which it would appear you will be a donkey for more than just today. Cover go long and be patient $5 can happen with but 1 news release, shorts are toast.
I think your sitting short and squirming, should have stayed long old man looks like shorts are gonna lose and lose a bunch going forward to many positives going on here.
Dry shipping stocks have been on a tear, led by the quickly rising rates as measured by the Baltic Dry Index. The largest vessel, called the Capesize, has risen the most in the last few weeks and has been most responsible for raising the entire index. Skeptics have been quick to point out that while Capesize rates rising to levels that make them quite profitable to operate, the smaller ships in the fleets haven't participated in the rate rally. That is, until last week. Capesize rates hit a peak of $42,211 on Wednesday then toppled nearly $4,000 in just two short days. This dive spooked investors that caused a two day plunge in some of the most popular names such as DryShips (DRYS) down 7.4%, Genco Shipping & Trading Limited (GNK) down 12.8%, Star Bulk Carriers (SBLK) down 4.6%, Eagle Bulk Shipping (EGLE) down 3.4%, and Diana Shipping (DSX) down 2.9%.
In the midst of this Capesize rate pullback panic, it appears investors overlooked the screaming rally the smaller ships experienced over the same week. Panamax rates rose 29.4% and Supramax rates rose 11.0%. Overall the Baltic Dry Index racked up another 7.5%.
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But what is the Baltic Dry Index anyway? The BDI is simpler than most people realize. Each of the four common ship types is given equal weight to the index of 25% each: Capesize, Panamax, Supramax, and Handysize. The makeup of an individual company's fleet will in part determine how closely correlated the index is to its own fleet.
Since Panamax was the star rate climber last week, the two day negative reaction for DryShips seems unjustified, even though I criticized DryShips as not as pure play. Two-thirds of DryShips fleet is Panamax. The pullback in Capesize is more than made up for by the Panamax. Meanwhile Star Bulk Carriers only has 2 Capesize ships of its 28 so it should benefit handsomely from the shift away from
Motley Fool and Seeking Alpha on board and promoting, CNBC, Fast Money and of all people Cramer on board and promoting. Looks like with shipping rates continuing to trend up DRYS is set to rise BIG TIME.