quantuon I'm wondering is this latest move has legs. I'm not seeing a compelling factor, i.e., afra rates not very good, suez doing ok but not great.
There has been much talk of a 2014 recovery, and in my view - which of course is as amateurish as it gets - the market looks out 6 months. Is this latest move a validation of a recovery or yet another bear trap. Who knows.
i don't see any catalyst in the near term but all the dark corners of the market seem to be catching up. Maybe its the last leg of a bull market or we're just flat out of crises for the moment. I think the value guys are in nibbling - Wilbur Ross comments don't help. Once people figure out the TNK liquidity story, i think it should revert to the 3-4 range....jm2c