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 Shipping Your Way Triple or More ProfitsThe next multi-bagger, in my humble view, is DryShips (DRYS),one of the leading dry bulk shipping companies traded. This company was completely exposed to the spot market, where prices shift every day, and thus, was taken down when the Baltic Dry Bulk Index (BDI) broke down this past June. Prior to July, day rates for shipping iron ore, fertilizer, cement, grains and coal to China were up to $90,000 per day. Today, the spot market BDI day rate is about $7,000 per day. That's not a typo. Rates have crashed and the stocks within the industry have been taken to the woodshed. Shares of DRYS have cratered from $115 this past July to today's price of $4.50 per share. That's not a typo, either. The company owns and operates 38 vessels and has $1.6 billion in liquid cash and cash equivalents. They will make the turn and it's important that we make the turn with them as investors in the common stock. Who knows where this stock could trade back up to when China's market recovers.Recommendation: Buy Dry Ships (DRYS) at market. |
- Short of the Week: ZLC November 3, 2009
- Sidewinder: MCO, LIFE, ABX November 3, 2009
- What's Hot: HGSI, BEBE November 2, 2009
- Sidewinder: HGSI, ORCL, BEBE November 2, 2009
- Options News: SPY November 2, 2009
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Everyone likes to talk about their successes, but it's really the mistakes that teach us the most.
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