Dryships approaching support.

Posted on January 14, 2014 by Stock Trade Journal

Dryships (DRYS) is approaching an area of demand around $3.60 – $3.50 where I would like to buy some shares. After the parabolic move at the end of December, it was only natural to have a correction. It has given back all of those gains, but it appears to be settling around $3.60. This is one of my favorites stocks on my radar to trade this year as it delivers spectacular moves and it has lots of volume. I am using a Weekly ATR based trailing stop to keep me out of trouble.

About Stock Trade Journal

The information in this blog is not investment advice. Please consult a financial advisor before investing. I have been trading stock since the 1990's and survived the .com crash. I am developing software applications to help me trade better and now I am making them available to help other traders. This blog is also a way to share my experiences and observations in the market.
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