I'm going to start by pointing out the failure in my last pick SOLF. Technical picks don't always work out since all you have to go with is an indicator and not much else. Today's unfortunate news of a downgrade by some analyst is always unpredictable. Sometimes analysts will downgrade a stock just so they can get it cheap for themselves or a client. I have seen this myself at least once before. When that happens usually the stock will recover soon after the downgrade. We will see in the coming days. Solar fun hasn't reported earnings yet so with this failure it may as well be an avoid until earnings have been posted.
Tonight's pick is DRYS. The whole dry bulk shipping group has posted very good earnings and DRYS is no exception. The stock is consolidating nicely and may break out of this box I highlighted. Buy point is above $88.60 or now if you have the guts. The markets are a bit overbought so keep that in consideration because we may be getting close to some kind of sell off.
No comments:
Post a Comment