LONG: Dryships (DRYS) – Ideal triangle/continuation pattern. I’d buy on the breakout of $3.56, and keep the stop-loss somwhere below $3.30 if you can.
SHORT: Newcastle INvestment (NCT) – Big Island reversal pattern that has a perfect short side setup. Get in at today’s current price and see if you can ride it down to the $5.50’s. Stop at $6.32.
LONG: Overseas Shipholding (OSG) – Steve in our chat room spotted OSG and I like the breakout setup in this shipper. Ideal entry is at $13.27, which a stop-loss no lower than $12.50.
SHORT: Peabody Energy (BTU) – This stock continues to keep getting hammered and would look to get short as close to $31 as I can.
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