Friday, May 23, 2008

Shipping: How'd we do with "Shipping: Will the Run End Today?" (DRYS; DSX; EXM)

On Monday our first shipping post of the day was
"Shipping: Will the Run End Today? (DRYS; DSX; EXM)"

With Excel having reported this morning and Dryships reporting after the close I'm thinking the easy money is behind us.

Premarket EXM was up 3.07%, DSX 1.92%, DRYS 1.69%.
I'm wondering if DSX is setting up one of Mr O'Neill's cup-and-handle formations, which would mean we can go elsewhere for the next few weeks.
From Monday's open* to Fridays close Dryships went from $112.70 to $90.05, down 20.09%.
Here's the picture from BigCharts:

Excel Maritime opened the week at $59.75 and closing at $47.86, down 19.9%.
From BigCharts:

DSX was the best performer of the group at down 15.31% and is the one I like best for a rebound.

*We put the post up at 9:38 EDT, two hashmarks on the charts above. If you should see this post after the open on Tuesday the 27th the charts will have changed, they're dynamic.

Our second shipping post on May 19 was:
Shipping: Well that was Quick (DRYS; DSX; EXM)