""The Baltic Dry Index, which covers drybulk shipping rates and is managed by the Baltic Exchange in London, fell 9 points Monday to 10,853. The index measures rates on 40 shipping routes on a time charter and voyage basis.
Jefferies & Co. analyst Douglas J. Mavrinac said while it's likely the volatility in the Chinese iron ore market will continue over the next few weeks, drybulk shipping rates should rise after the negotiations are complete.
Mavrinac said he continues to believe the market will remain bullish through 2008.""
A little cooperation from the market will help but if DRYS earnings are great which they should like EXM we will go up up!! Cisco earnings will help the market too! ENGL reports Thurs as well.
it would be nice to through these negotiations before earnings but either way it will take a week to a month but she will go back up! Target is still $92!!
Strong report from DRYS should drive entire sector higher. I own drys and exm and still feel there is manipulation from institutions to bring down price. Good report and strong guidance should rally these stocks to new highs...