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Strategies & Market Trends : Befriend the Trend Trading -- Ignore unavailable to you. Want to Upgrade?

To: Dr. Stoxx who wrote (39497)	12/21/2007 12:28:26 AM
From: stormrider1	Read Replies (1) \| Respond to of 39683

Dr. Stoxx. I have been day trading DRYS for about 3 weeks now and have a pretty good grasp on the daily gyrations. While DRYS is entering a near oversold condition I know you must realize the chart you are showcasing is a descending triangle. Descending triangles are considered to be very bearish and typically break to the norm which is to the downside. I suspect the short term may be bullish, but longer term I wouldn't be surprised to see this stock seeing the 50's area.