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View Jonathan Cho's Comments
Baltic Dry Index: Turning The Corner
There's more reason to believe the BDI will begin a major uptrend--I think commodities and precious metals as a whole are in a long-term bottoming process (they correlate with the BDI), and Asian equity indices, which have fair correlation with the BDI, are also bottoming before beginning a major multi-month move up. I wrote a technical report on this on my Instablog. I think European and US equity indices are going to sell-off while this happens, which some think is bearish for the BDI, but the BDI hasn't tracked them in recent years, as the BDI is driven primarily by Asian demand.
I know the BDI has been weak this month, but it's expected after the major run-up it's had, and it gives a good opportunity to get good entries on shipping stocks.
Jan 21, 2014. 11:01 PM
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