[DRYS] looking interesting again

I dabbled in DRYS for a very short time recently, got stopped out for a 3% loss and then let it continue falling since then.  I can't be certain that the mid 60 cent range was the bottom.  That was clearly 5 moves down following a clear 4th wave HT so it could have been the bottom but if it does not continue fleshing out 5 waves up per the green over the course of tomorrow and Monday then I think it could see 50 cents.  But whenever 5 waves down is down I think it is a strong buy because when it reverses the percentage gains should be very worthwhile. 

Not that I put too much value in "fundamentals" but DRYS has been sold off as if BK is imminent and I just don't see that happening soon.  Yes it has a shipload of debt so to speak but it also has $566 million cash.  Now look at PS of only .21!  And PB of .15?????  Even with a very conservative 50% haircut in asset prices in a breakup sale, this is worth 3 times its current market cap.  Either that or George E is cooking the books big time.  That PB number is probably the lowest I have ever seen in my life and that is saying quite a bit for someone who follows the stock market as closely as I do.  Price to book is perhaps the truest measure of real value of a company. The only question is, who did the appraisals...



In any case, I will be back into DRYS if we get 5 small waves up and then 3 tiny waves back as depicted by the green path.  And if we get the red path I will be following it down very closely waiting for the final EW motive sequence to finish.