Quick Win by the Algorithm

DryShips Inc. (DRYS)

On November 7th, 2016, the I Know First algorithm had predicted a bullish forecast for DryShips Inc. (DRYS). DRYS had a signal of 51.34 and a predictability of 0.4. In accordance with the algorithm, the company reported long-position capital gains of 833.77%, experiencing a quick win by the algorithm.

DryShips Inc. is an owner of drybulk carriers and offshore support vessels that operate worldwide. DryShips owns a fleet of 16 Panamax drybulk carriers with a combined deadweight tonnage of approximately 1.2 million tons, and 6 offshore supply vessels, comprised of 2 platform supply and 4 oil spill recovery vessels. The company’s executive offices are located in Amaroussion, Greece.

The reason for the sudden and continuous jump in the market is that DRYS is selling off some of their carriers to try and get rid of their debt. Demand for shipping has also increased in recent years. This jump began after the United States Presidential election, where Donald Trump became president-elect. The idea is that with him, there will be more trade.

This bullish forecast on DRYS was sent to current I Know First subscribers on November 9th, 2016. 

Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. While the algorithm can be used for intra-day trading the predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.

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