With the main market weak, and the BDI falling, the shippers are continuing to suffer, with Dry Ships (DRYS) falling another significant -2.1% @ $3.19. A failure to hold the 200 day MA of $3.06 seems likely, and that will open up the low $2s this summer.
*first, an update on the BDI, which slipped -1.6% today...
The brief foray into the $5s now seems a very long way up. Indeed, DRYS is lower by around -40% since late December.
If the main market does indeed roll over this spring/summer, down to the low sp'1600s, DRYS looks set for the low $2s, which is a further 30% to the downside.
I would be looking to pick up DRYS in the summer..somewhere in the $1.75/2.25 zone..and hold into late 2015.