Raging Bull podcast: Jason Bond shorts DryShips in swing trade

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Jason Bond of JasonBondTraining.com says that the carnage at DryShips Inc. — a stock so bad that it has lost more than 99 percent of its value thus far this year — prompted another round of financing which artificially raised the price, which won’t save the company from a collapse but which did pop the price enough to create a short opportunity. He’s shorting 10,000 shares of DRYS, expecting it to fall to $2.20 over the next few trading days, and described what he’s doing with the stock and why in “On Jason Bond’s Watch,” his regular weekly interview with RagingBull.com editor Chuck Jaffe.
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Jason Bond runs JasonBondTraining.com and is a swing trader of small-cap stocks. He had a short position of 10,000 shares in DRYS when he recorded this interview on Thursday and, as he discussed,  was planning to cover under $2.25, with a stop at $3.5. The Raging Bull podcast features experts from the site talking with Raging Bull editor Chuck Jaffe on his show, “Money Life with Chuck Jaffe.” You can learn more about Chuck’s daily hour of market and personal-finance chat at MoneyLifeShow.com; you can subscribe to the Raging Bull podcast via iTunes and other podcast providers.

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