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Mr. Wynn
16 Comments
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DryShips Deserves More Love
I've made great money with DRYS and Excel Maritime (EXM) by trading the stock over relatively short periods of time, and I am going to again. Economou said late last year that 2008 would be a year in which DRYS would be operating wholly in the spot market because he believed that there was greater opportunity there than in the time charter market. That high BETA is earned because spot prices are notoriously volatile. But if Economou is right - and I think he's a sly old devil who is not in business to lose money - then DRYS should return - perhaps by mid-year - to its previously lofty shareprice or 131 and change. These current prices are sensational for buying in, but if you do not have the stomach for risk, and if you are more used to writing on the Yahoo BBs, then stay away from DRYS and stay away from here.
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Ned