I am still holding on a core position in DRYS which I took partial profits on March 27. On Friday it popped big time up +29% in one day. GNK also in the shipping business up +16%. DRYS is on it’s way up to $17 with little resistance with the huge sign on strength on Friday.

SPY has shown great strength during this short covering rally. I suspect we should pull back this week to around $82-83 where you can buy more if the volume is light. Then SPY will head up to $92.