I got a bad fill @ hod of 38.76 on TBSI, but enough data has ticked on the charts that a bounce to 21dema minimum is likely @ 40.42. Possibly 50dema at 41.41. Could go beyond both of those MA’s, but those are first hits. Comparatively, DRYS, GNK, EXM, and the rest of the Dry Bulk Shipping stocks all look like they are going to bounce.

This is a long idea and I’ll have some short ideas over the weekend, but it looks like the market could put in a bounce sometime next week, but it will be a bounce that I want to short.

If you like this post, check these out too

• August 13, 2008 -- Dry Shippers Having A Major Turn Around
• July 23, 2008 -- Likely Going Short
• April 16, 2008 -- Morning Update
• January 29, 2008 -- Dry Bulk Shippers On Fire

Thanks for reading

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