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Momentum Trading with RaginCajun

RaginCajun
Joined Jan 27, 2008
7,405 Blog Posts

DRYS: Breakdown

RaginCajun Mon Aug 4, 2008 11:25am EST 8 Comments

DryShips Inc. [[DRYS]] is on the cusp of a significant breakdown. The stock shows support @ 70, and that level was just breached. Keep an eye on it.

Note: The 50 MA and 200 MA formed a death cross

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8 comments

  1. Vince Lombardi
    Vince Lombardi
    August 4, 2008 at 11:29 am

    Watching it and jumped into FRO(same industry) earlier today.

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  2. yo
    yo
    August 4, 2008 at 11:29 am

    what u think on visn here?

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  3. RaginCajun
    RaginCajun
    August 4, 2008 at 11:35 am

    VSIN was a breakout play on Thurday, a retest play on Friday–that failed, and dead money now.

    The company announced a secondary, I would not touch it here.

    http://www.tradethenews.com/stock-news/Technology/Visionchina-Media-Inc/VISN/437914

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  4. Cajun
    Cajun
    August 4, 2008 at 12:21 pm

    lol @ DRYS

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  5. dilligaf
    dilligaf
    August 4, 2008 at 12:32 pm

    what’s your price target for drys?

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  6. Cajun
    Cajun
    August 4, 2008 at 12:34 pm

    Note: I like RIMM here

    I’m looking for $60 on DRYS

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  7. Gio
    Gio
    August 4, 2008 at 1:41 pm

    Hey RC, nice one!.. I feel the same thing about shippers. I’m short TBSI since last week.

    I posted this early in July… http://www.thehawaiitrader.com/2008/07/charts-coal-stocks-jrcc-pcx-ncoc-ico.html

    … yes, they are breaking down.

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  8. RaginCajun
    RaginCajun
    August 4, 2008 at 3:30 pm

    Gio,

    I love being short shippers at the moment.

    Wow, look @ DRYS!

    Great call last week.

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