Aloha PBK - hope you played 108 in the lottery today! 108 years and then it was 8 runs in 10 innings. The symmetry is just too appealing.
I am waiting for the next round of dilution of DRYS. My guess, and it is just that, GE will likely sell 30 million shares @ a 80% discount. That would take care of a large amount of debt and allow him to go on a shopping spree. Very bad for current holders - again.
As for the larger picture, I believe there will be significant scrapping efforts over the next 6+ months. The primary factor will be driven by the new maritime law requiring a very expensive sea strainer system to be installed. The tab could be $5 million. Considering the excessive tonnage today as it relates to available freight, the cost of the upgrade,and lack of credit, any ship built prior to 2000 is a candidate for scrap. Once those ships are removed from the system, I believe the shipping sector will become very profitable.
DRYS remains on my watch list, but I need to see a few more GE cards before I lay down any bets with him.
News 
Market Data 
Discover 
