Comments on: DryShips (DRYS) Drying up? http://www.chrisperruna.com/2008/05/06/dryships-drys-drying-up/ A blog about trading, finances, success and life itself Fri, 30 Dec 2011 14:18:33 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: chrisperruna.com » Blog Archive » Smelling Trouble http://www.chrisperruna.com/2008/05/06/dryships-drys-drying-up/comment-page-1/#comment-18223 chrisperruna.com » Blog Archive » Smelling Trouble Fri, 23 May 2008 12:59:27 +0000 http://www.chrisperruna.com/?p=1400#comment-18223 [...] is what I had to say a few weeks ago in my post titled DryShips (DRYS) Drying up? All in all – I am not a buyer of the stock at this level. It may be a solid short term buy for [...] [...] is what I had to say a few weeks ago in my post titled DryShips (DRYS) Drying up? All in all – I am not a buyer of the stock at this level. It may be a solid short term buy for [...]

]]> By: Pradeep Bonde http://www.chrisperruna.com/2008/05/06/dryships-drys-drying-up/comment-page-1/#comment-18075 Pradeep Bonde Sat, 10 May 2008 20:20:41 +0000 http://www.chrisperruna.com/?p=1400#comment-18075 What does IBD use to calculate 100 companies rank: Earnings Relative to other stocks Relative Strength Sector Relative strength Composite ratings All these are relative values. So any change in relative value of other stock can change the rankings. So if other stocks earnings rating change relative to DRYS it can move up. This often happens in earnings season as new earnings changes earnings rank. Price relative strength can change if stock moves up or other stock goes down. Sector relative strength can increase or decrease. The reason DRYS debuted so high in the list is very simple. In shipping sector case in one week it has moved from 111 to 41 in ranking as a result of broad based rally in sector. That is the reason DRYS has moved up in ranking dramatically. At the end of the day IBD100 is computer generated list, there are no agendas behind it, contrary to what most people believe. It just adds up some numbers and ranks stocks to arrive at top 100. What does IBD use to calculate 100 companies rank:
Earnings Relative to other stocks
Relative Strength
Sector Relative strength
Composite ratings
All these are relative values. So any change in relative value of other stock can change the rankings.
So if other stocks earnings rating change relative to DRYS it can move up. This often happens in earnings season as new earnings changes earnings rank.
Price relative strength can change if stock moves up or other stock goes down.
Sector relative strength can increase or decrease. The reason DRYS debuted so high in the list is very simple. In shipping sector case in one week it has moved from 111 to 41 in ranking as a result of broad based rally in sector. That is the reason DRYS has moved up in ranking dramatically.
At the end of the day IBD100 is computer generated list, there are no agendas behind it, contrary to what most people believe. It just adds up some numbers and ranks stocks to arrive at top 100.

]]> By: chrisperruna.com » Blog Archive » Market Distribution http://www.chrisperruna.com/2008/05/06/dryships-drys-drying-up/comment-page-1/#comment-18055 chrisperruna.com » Blog Archive » Market Distribution Thu, 08 May 2008 13:03:44 +0000 http://www.chrisperruna.com/?p=1400#comment-18055 [...] DryShips (DRYS) Drying up? (By the way, DRYS was down 2.87% on above average volume – distribution) [...] [...] DryShips (DRYS) Drying up? (By the way, DRYS was down 2.87% on above average volume – distribution) [...]

]]> By: bill http://www.chrisperruna.com/2008/05/06/dryships-drys-drying-up/comment-page-1/#comment-18034 bill Wed, 07 May 2008 13:00:20 +0000 http://www.chrisperruna.com/?p=1400#comment-18034 Looks like a nice 'W' forming. Looks like a nice ‘W’ forming.

]]> By: Chris http://www.chrisperruna.com/2008/05/06/dryships-drys-drying-up/comment-page-1/#comment-18033 Chris Wed, 07 May 2008 12:47:19 +0000 http://www.chrisperruna.com/?p=1400#comment-18033 Born2Code, I see everything you are saying and I may be wrong. But remember this - you now have a slight human bias since you own shares. Born2Code,
I see everything you are saying and I may be wrong. But remember this – you now have a slight human bias since you own shares.

]]> By: chrisperruna.com » Blog Archive » The Big Decline http://www.chrisperruna.com/2008/05/06/dryships-drys-drying-up/comment-page-1/#comment-18032 chrisperruna.com » Blog Archive » The Big Decline Wed, 07 May 2008 12:46:03 +0000 http://www.chrisperruna.com/?p=1400#comment-18032 [...] I am a positive person by nature and I prefer to buy stocks going up but I am starting to see several leading stocks struggle to hold new highs or fail to challenge recent highs. These patterns are familiar and they are suggesting that the recent bounce is the final stage before a possible market decline. A perfect example can be the charts posted of DRYS yesterday. [...] [...] I am a positive person by nature and I prefer to buy stocks going up but I am starting to see several leading stocks struggle to hold new highs or fail to challenge recent highs. These patterns are familiar and they are suggesting that the recent bounce is the final stage before a possible market decline. A perfect example can be the charts posted of DRYS yesterday. [...]

]]> By: Born2Code http://www.chrisperruna.com/2008/05/06/dryships-drys-drying-up/comment-page-1/#comment-18026 Born2Code Wed, 07 May 2008 04:28:07 +0000 http://www.chrisperruna.com/?p=1400#comment-18026 I entered DRYS on the 25th, blogged about it at the time and currently track it in my real-time portfolio. The reason I entered it is the group's action. Look at EXM, EGLE, GNK and SFL. GNK already recovered from the swoon and is about to go into an all time high. EGLE is following faithfully. EXM and DRYS are right behind them. These stocks move as a group and clearly the same momentum money is going into all of them. DRYS also marked a higher low and a higher high (today) and the 200 day MA is not in danger of turning lower. The breakout on the 22nd happened of high volume. It is also pretty easy to detect if this breakout failed and thus set a reasonable stop. Either below the lows from 3/17 or below the breakout candle from 4/22 depending on your tolerance. I entered DRYS on the 25th, blogged about it at the time and currently track it in my real-time portfolio.
The reason I entered it is the group’s action. Look at EXM, EGLE, GNK and SFL.
GNK already recovered from the swoon and is about to go into an all time high. EGLE is following faithfully.
EXM and DRYS are right behind them.
These stocks move as a group and clearly the same momentum money is going into all of them.
DRYS also marked a higher low and a higher high (today) and the 200 day MA is not in danger of turning lower.
The breakout on the 22nd happened of high volume.
It is also pretty easy to detect if this breakout failed and thus set a reasonable stop. Either below the lows from 3/17 or below the breakout candle from 4/22 depending on your tolerance.

]]> By: madhatter http://www.chrisperruna.com/2008/05/06/dryships-drys-drying-up/comment-page-1/#comment-18016 madhatter Tue, 06 May 2008 23:59:06 +0000 http://www.chrisperruna.com/?p=1400#comment-18016 DRYS volume so far was great on the first day of the breakout, but its dwindled off the past 2 days... not so encouraging. don't get me wrong its still larger than normal, but ideally volume should *increase* with the move seems like this setup is on a lot of people's blogs and Chris you're the first person who doesn't seem to like it. Volume right now agrees with you, as its failing to really explode higher. DRYS volume so far was great on the first day of the breakout, but its dwindled off the past 2 days… not so encouraging. don’t get me wrong its still larger than normal, but ideally volume should *increase* with the move

seems like this setup is on a lot of people’s blogs and Chris you’re the first person who doesn’t seem to like it. Volume right now agrees with you, as its failing to really explode higher.

]]> By: Ragin Cajun http://www.chrisperruna.com/2008/05/06/dryships-drys-drying-up/comment-page-1/#comment-18013 Ragin Cajun Tue, 06 May 2008 20:57:03 +0000 http://www.chrisperruna.com/?p=1400#comment-18013 Thanks for the link Chris. I took home profits in TBSI today. Thanks for the link Chris.

I took home profits in TBSI today.

]]> By: Chris http://www.chrisperruna.com/2008/05/06/dryships-drys-drying-up/comment-page-1/#comment-18011 Chris Tue, 06 May 2008 16:22:27 +0000 http://www.chrisperruna.com/?p=1400#comment-18011 Trojan, I understand it’s not a recommendation. Many, if not all of my stocks researched are covered here long before they ever make it to the IBD 100. EDU, JASO, MR, BIDU – just to name a few in 2007. I can name at least a dozen from 2006. The IBD 100 lags. It contains great stocks but at the wrong times – that was my point. Trojan,
I understand it’s not a recommendation. Many, if not all of my stocks researched are covered here long before they ever make it to the IBD 100. EDU, JASO, MR, BIDU – just to name a few in 2007. I can name at least a dozen from 2006. The IBD 100 lags. It contains great stocks but at the wrong times – that was my point.

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