tag:blogger.com,1999:blog-2335748440449035592.post1515801719184581836..comments2008-05-27T14:17:02.239-04:00TraderMarkhttp://www.blogger.com/profile/06241756200482130281noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2335748440449035592.post-89843396412414869432008-05-27T14:17:00.000-04:002008-05-27T14:17:00.000-04:00yea i had "twittered" earlier this morning that i was watching DRYS hoping it would hit the plain jane 50 day simple moving average around $80. (btw sidenote that twitter application is on the upper right corner of my site now mark so you can see what i was talking about, even though i know you don't have as much of a use for it)<BR/><BR/>anyways, DRYS run-up has been huge and had a nice pullback. the name has always been volatile so its expected. and, as you've shown: if you're patient, you get your opportunities. the baltic dry index has been at ridiculous highs and looked as if it wanted to head even higher. and, seeing as DRYS has a lot of their contracts (practically all) on the spot market and the spot prices were so high, their next earnings report should be great. obviously some of this is already priced in due to the run it had from 65 to 115. but, even last quarter they reported pretty solid numbers and the spot price wasn't ridiculously high then. i'm expecting a massive earnings report next go-round.<BR/><BR/>only thing that worries me on the pullback has been the volume. stronger volume on this pullback than normal, showing some distribution... just plays into the usual volatility with this name. what's good about this pullback though is the 50day ema here and then the little peak in march is around $85 as well and so that past resistance is now future support.<BR/><BR/>i bet your personal position will change pretty soon here haha, i'm right on the cusp myself.madhatterhttp://www.blogger.com/profile/09190401467783694097noreply@blogger.com