DRYS was a straight Featured play, bounce and breakout off the 50 DMA. For those of you that think BOP wasn’t that nice when it broke out, you are right. But remember I use Featured and a form of momentum trading the HOT HOT HOT beautiful max green BOP filled charts. Sometimes you get both or sometimes you get a little of both. But this time is was straight Featured on a stock with an EPS I believe was 99 and a RS rating I believe was 99. If they were not 99, they were 98’s. The bottom line is I can not ever pass on a breakout in a Featured stock that is breaking out and bouncing off the 50 DMA. If you look at the trend of the market you can see the downtrend ended in August. We soon had a VERY WEAK Follow-Through Day (which hinted that the rally was close to dead) BUT there were a few Featured stocks breaking out and a beauty setting up for what was our last perfect PAST BIG WINNER (APPY). That is why it was good to go long that FTD; because there were stocks still breaking out and setting up in sound patterns. Now after that November to January selloff and wild and chopping churning since January, there are barely any charts that look right with heavy accumulation and little to none distribution. This market is much uglier than what it was before the top. DRYS in two months and one week produced a strong 102% return in a very low VIX environment in a market that was on its last legs. Quite impressive.
the buy:
the top:
