DryShips Cruises On (DRYS)

Posted in pre-market 
October 8th, 2009

DryShips, Inc. (NASDAQ: DRYS) is seeing a surge in pre-market trading, although it may seem muted in comparison to the good old days when this would open up or down by more than 10% on what felt as though was almost every day.  This higher yesterday at $6.73 on the Baltic Dry index but then Alcoa is helping.  If metals fabrication is up, then hopefully mining is and therefore hopefully shipping is not very far behind.  At 8:49 AM EST we are seeing a 4.5% gain to $7.03 on over 500,000 shares.  DRYS trades 23 million shares a day and this oen is still way down from those old $100+ highs.   This appears to be the highest trading level since September 24 when it hit an intraday high of $7.08 and had seen highs of $7.30 and $7.28 in the two days before that.  -JON C. OGG

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