Friday, May 2, 2008


DRYS is forming an ascending triangle. Waiting for the breakout.

The triangle is pretty large, if it pulls back to the bottom thats a 20 point drop in a $85 stock! I had some before, but sold out. I am waiting for a pullback or a breakout to jump back in.

One reason I don't expect a significant pullback is the Baltic Dry Index, on the other hand the market is due for one.