I mentioned yesterday
that I
thought the dry shippers were done doing down as they exhibited great relative strength. Today DRYS,
EXM and even my favorite short
GNK are trading much higher. The lesson learned here is that so many names are ridiculously oversold and when we do get a bounce that sticks, it should be vicious to the upside.
SIGM is up about 5 and
SKF which is the ultra short for real
estate was up about 11
pts. at one point and i caught it for a few.I have no faith that we can hold gains into the close so I will be light on my feet.
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what are your thoughts?