Does the BDI track route activity on a daily basis. In other words, if it drops another 400 points tomorrow, then the market is that much more worse tomorrow than today?
I mean, I know the BDI is not a traded stock, but it has fallen 2,000 points in a week! 25%. The index could care less if every vessel will be operating at full capacity in 2 weeks(or when ore negotiations are over). It only cares that they are sitting idle today, right?
Does this mean all Technical Analysis means nothing? It's all about the BDI?
Todays fixtures on Platou would suggest a rise in Supra rates as there were two at 70k daily. Some pretty crappy Pana fixtures were reported, and the few Capes were a little off as well. Probably see another red day, overall.
Come on man you can do better then that! Do you have to wait for them to dis this market before you jump on board and let people loose their last cent at the low? The rates are down 2500 on spot at the low end. Not much has changed from when the rates were at the low end about a year and a half ago when shippers were thought to be doomed for the next ten years. Shipping growth has been steady year over year in the single digits for all of time. I have tons of quotes from you from the ride down below 15 that have turned into jokes. My favorite is that there is a new ship hitting the water every day. Many of the long term chat sites have helped me keep a line on the sector but it is hard after all the companies joined to pump rates. To sum it all up the penny landed on heads this time. You will always be the auto-fool to me stating what the PR is. This does help me. You got to love the fool and this is the sentiment of those that sold around 80.
Well at this rate the BDI will be at zero in 12 days which means the shippers will provide their service for free!
Honestly, every day I wake up and feel the BDI can't fall much further. Not only does it fall, it plummets! These are 5-7% declines per day for pete's sake.
I have realized I know nothing about this sector. I am at the mercy of an index that I do not understand. I thought I did, but I don't. There is no logical explanation, in my mind, that an index that tracks a sector could fall at this rate.
I know NOTHING!!
what you're seeing here at the end are day traders taking profits.... there was some nice money made today if you came in short and then bought on the low. Tomorrow will likely be more of the same. Look at the 5 day this pattern repeats itself frequently... As far as the BDI goes, that's anyone's guess... there hasnt been a sign of stabilization yet... Watch bloomberg tv tomorrow morning, commodity ticker, for the earliest bdi report. they usually have it up by 9am