day trading gains
Day trading in Barclays preferreds yesterday did not work out because my offer prices were too low. The market still has confidence in BCS despite the downrating by Moody's which triggered my interest. So at the end of the day, I switched to putting $5000 into DryShips instead. Again I used a limit order and paid $4.95 per share. My logic was that the situation was dire but that there would be an out because the company does have assets. As I wrote yesterday, the banks really don't want to run a shipping fleet. We all own a half stake in DRYS.Q having sold half when the price topped $100.