Saw DRYS (Dry Ships) cross the screen today, on heavy downside volume. This IBD 100 super duper stock extraordinaire, was down over 12% today. I punched in the symbol and viewed a weekly chart..and was quite surprised to see the enormous move in one year or so. See above. I suppose the rumor mill of the day was economic related, folks probably questioning whether or not a recession is ahead, and then the scenario where day shipping rates plunge if the global economy teeters. I am only guessing here, for it could be profit taking after a substantial move. Momentum works both ways folks, AND, the market can remain irrational longer than you can remain solvent. Good luck.
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