Company Description: DryShips, Inc. engages in the ownership and operation of drybulk carriers worldwide. The company's fleet carries various drybulk commodities, including coal, iron ore, grains, bauxite, phosphate, fertilizers, and steel products. As of March 14, 2008, it owned and operated a fleet of 46 drybulk carriers comprising 5 Capesize, 31 Panamax, 2 Supramax, and 8 newbuilding drybulk vessels with a combined deadweight tonnage of approximately 4 million tons. The company was founded in 2004 and is headquartered in Athens, Greece..

Our Analysis: The shares of DryShips, Inc. 'DRYS' closed below a recently established support level on heavier than normal trading volume on Friday. This is a bearish trading signal. The shares of 'DRYS' should continue to move lower and test $11.99/share, the point from which they gapped higher on the open of trading on August 25th, 2006. If the shares of 'DRYS' close below that level, then they should continue to move lower and test $11.35/share, the point from which they gapped higher on the open of trading on August 2nd, 2006. If the shares of 'DRYS' close below that level, as I feel there is a reasonable chance they will, then the shares of 'DRYS' should continue to move lower and test $8.58/share, a point of support established in late May of 2006. I see support on the shares of 'DRYS' @ 14.05/share, and have set my supports accordingly at $14.43/share.