DRYS pullback started.

In this post I noted that DRYS had broken out of its ending diagonal and that I expected a big upswing in price.  The share price at that time was $2.91.   Since that time I made a couple more posts about DRYS, all of them looking for higher prices because the wave model indicated it should happen.

In this post I suggested that trailing stops on DRYS were prudent.  Again, nothing to do with "fundamentals" and everything to do with the wave model. With the drop seen today those trailing stops should be getting taken out.  DRYS is up hundreds of percent in the past 6 weeks.  I now expect it to return to the level of the prior 4th wave in an a-b-c retracement. 

I will reassess the chart should it get back down to the range of $2.60 as my model indicates.  I would not short this but I would not be holding these shares either.  The tail winds of Elliott wave odds would no longer be at your back.  In fact, they have shifted 180 degrees to be in your face IMO.