If you look at a chart for the US $ and a chart for Crude Oil, there is some relationship between the two. Some feel that the US $ has more room on the upside while others feel it is near its top. Crude oil, coal and other commodities have been beaten down quite badly since Mid Summer and some people are trying to get ahead of the next turn in the sector cycles -- rotations. Perhaps a bit early, but the low prices are very tempting for some.
Whee -- UYM took off just like I thought! I think commodities are going to fly a bit in the coming weeks, and I'm going along for the ride. I think I'll stick with UYM for a bit with a target around $20 (I can't recall where my target price is atm), but as soon as oil breaks the $55 barrier, I'm going long DXO, and some other commodity plays like AA and DRYS. I might start nibbling at solars again too .... volatility notwithstanding.
STP has already had a strong move from the recent lows of last week. DIG has had a powerful move since the bottom last week. Waiting for a pullback so I can reload.
I don't know that we will get much of a pull back beyond the levels we've seen in the past couple of days.... the sense I'm getting from many of the charts I've looked at is that bottom formations are mostly complete and the main direction is up. I'm not ruling it out but I'd say the chances of, seeing the Dow at say 8000 again in the near term are getting more and more remote. DRYS is so tantalizing. If it breaks $5 convincingly, there's nothing but air between it and $8.50, and then $12.25.
When's the last time there's been 4 green days in a row? Seems like we're due for some sort of pullback (not a monster 800 point drop or anything but something). Holiday tomorrow and a short trading day on Friday.
Anybody's guess is as good as yours. Seriously though, why do people ask questions like this when nobody knows the answer?
The power-hour (starting about now) is always very important, but my main interest now is closing prices. DRYS broke through resistance ... let's see if it closes above. If it does I think I'm diving in. I just got done speaking with a friend who was telling me he noticed a lot of bullish setups in the construction sector, and then it hit me ... of course. Obama's infrastructure upgrade plans.
DRYS Are you strictly a <i>Technical</i> person? I haven't heard much positive about the main person at DRYS. I already have FRO and DHT. If I was going to buy more in the Shipping Sector, then perhaps NAT or ATB or TNK. Granted those are more on the Tanker side versus Dry Bulk side of Shipping. A pullback would be helpful for me, but probably not for most people. Some remain suspicious of <i><b>V Shaped</b></i> bottoms that are showing on many charts.
This thread is about stocks and investing... Not predicting what the market is going to do in the next 30 minutes. It's a question that nobody can answer correctly on somewhat of a consistent basis.
"Americans are the dumbest investors around." - George Economou, CEO of Dryships, when he was taking his company public.
Purely technical. DRYS is a risky play with a lot of upside, and I think it works with a stop at $5.00. As for the bottoms ... there are actually a lot of double bottoms (the previous bottom being the one in October), which is partly why I suspect the formations are completing. What I saw on UYM earlier today was about a bullish a sign as I have seen in months -- following the first snap back rally, there was a bull flag that tested resistance followed by a perfect rounded reversal to break it, while preserving the uptrend. If I hadn't learned to be cautious over the past month I would have thrown a lot more money at it.
That is George E. I read somewhere that when investors complain about the way he does things with Dryships, he says for them to sell the stock. Also, I think there are allegations of favoritism in dealings with other companies that George Economou and/or his relatives control. DRYS is not a place I want to be. It still might work out as a great trade for some, but there are plenty of other opportunities out there to select from.
if i would have seen the question i could have told him that it would be pretty unlikely a big sell off at the close would happen. price action today was strong....we are setting up for a nice pullback to start december and then everything else depends on holiday sales.
