DryShips ( DRYS ) - Baltic Shipping Index Turns Higher

For the first time in awhile, the Baltic Shipping Index has turned higher. This is making stocks like DryShips ( DRYS ), Excel Marinetime ( EXM ), TBSI International ( TBSI ), and Diana Shipping ( DSX ) to all move higher.

Out of all of these, I really like DryShips ( DRYS ). Now that the bottom has been established around $65 last week, I think it is set to move higher to test the $85 level. Drys hasn't closed over this level in awhile! I believe a close over $85 would start a nice uptrend and break out.

Trading Drys - While DRYS is $74 right now, I will be buying any dips under the $70 level. I think the trend is changing as we speak from downtrend to uptrend. Keep an eye on Drys and keep an eye on the baltic shipping index!