Monday, 11 August 2014

DRYS - clawing higher

With the main market higher for a second day, Dry Ships (DRYS) managed a gain of 3.3% @ $2.95. There remains strong resistance in the low $3.00s. A break >3.20 would be pretty decisive, and offer the $4 threshold in September.

DRYS, daily


Suffice to say, most transport stocks did particularly well today, and not surprisingly.. DRYS did pretty well.

Just another 4-5% higher, and DRYS will be on the edge of a breakout.

If we see the $3.20s... there will be a very big surge in media/trader attention on the stock... at which point we could see some rather significant multi-week gains.

*I've no position, and I've little interest in DRYS, unless sp'1700/1600 within the next 3-6 months. At that point, I'd consider picking up a long term block... but without question, it'd be purely speculative.